First Citizens Bank & Trust Co. Buys 54 Shares of Watsco, Inc. (NYSE:WSO)

First Citizens Bank & Trust Co. increased its stake in shares of Watsco, Inc. (NYSE:WSO) by 8.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 674 shares of the construction company’s stock after purchasing an additional 54 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Watsco were worth $319,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Watsco during the second quarter valued at approximately $26,000. Ashton Thomas Securities LLC purchased a new stake in Watsco during the 3rd quarter valued at $43,000. Massmutual Trust Co. FSB ADV grew its holdings in Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of Watsco in the third quarter valued at about $48,000. Finally, MCF Advisors LLC raised its stake in shares of Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after acquiring an additional 25 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Down 0.5 %

NYSE:WSO opened at $486.89 on Wednesday. The stock has a market cap of $19.66 billion, a price-to-earnings ratio of 37.63 and a beta of 0.95. The company’s 50 day moving average price is $503.62 and its 200-day moving average price is $493.12. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $2.70 per share. The ex-dividend date is Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.22%. Watsco’s dividend payout ratio is 83.46%.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 12.86% of the company’s stock.

Analyst Upgrades and Downgrades

WSO has been the topic of several recent analyst reports. Northcoast Research began coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Raymond James began coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Finally, Robert W. Baird dropped their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Watsco has a consensus rating of “Hold” and a consensus target price of $488.33.

Watsco Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.