Cibc World Market Inc. Has $2.34 Million Stock Holdings in Watsco, Inc. $WSO

Cibc World Market Inc. lowered its stake in Watsco, Inc. (NYSE:WSO) by 25.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,786 shares of the construction company’s stock after selling 2,005 shares during the quarter. Cibc World Market Inc.’s holdings in Watsco were worth $2,339,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new position in shares of Watsco during the 2nd quarter worth approximately $84,826,000. Corient Private Wealth LLC increased its holdings in Watsco by 106.4% during the second quarter. Corient Private Wealth LLC now owns 296,170 shares of the construction company’s stock worth $130,801,000 after buying an additional 152,662 shares during the last quarter. Vantage Investment Partners LLC raised its position in Watsco by 257.5% during the third quarter. Vantage Investment Partners LLC now owns 97,730 shares of the construction company’s stock worth $39,512,000 after acquiring an additional 70,394 shares in the last quarter. Jane Street Group LLC lifted its stake in Watsco by 154.2% in the second quarter. Jane Street Group LLC now owns 89,115 shares of the construction company’s stock valued at $39,355,000 after acquiring an additional 54,053 shares during the last quarter. Finally, Schwartz Investment Counsel Inc. grew its position in shares of Watsco by 81.8% in the 2nd quarter. Schwartz Investment Counsel Inc. now owns 120,000 shares of the construction company’s stock valued at $52,994,000 after acquiring an additional 54,000 shares during the period. Institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Watsco from $360.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, January 16th. UBS Group assumed coverage on Watsco in a research report on Monday, January 5th. They issued a “neutral” rating and a $370.00 price objective for the company. Mizuho decreased their target price on Watsco from $400.00 to $370.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. Zacks Research downgraded Watsco from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. Finally, Morgan Stanley decreased their price objective on shares of Watsco from $460.00 to $370.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus price target of $404.14.

Watsco Price Performance

Shares of NYSE WSO opened at $419.33 on Tuesday. The firm has a market cap of $17.01 billion, a price-to-earnings ratio of 32.76 and a beta of 1.04. The stock’s fifty day moving average price is $372.99 and its two-hundred day moving average price is $378.49. Watsco, Inc. has a one year low of $323.05 and a one year high of $535.40.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 16th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Friday, January 16th. Watsco’s dividend payout ratio is presently 93.75%.

About Watsco

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.