Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in Watsco, Inc. (NYSE:WSO)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 68,637 shares of the construction company's stock after buying an additional 3,879 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.17% of Watsco worth $32,526,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Watsco during the 3rd quarter worth about $43,000. Quarry LP raised its stake in shares of Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after purchasing an additional 33 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Watsco during the 3rd quarter worth approximately $48,000. MCF Advisors LLC increased its holdings in shares of Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock worth $57,000 after acquiring an additional 25 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Watsco during the 4th quarter worth approximately $90,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

Shares of NYSE WSO traded up $8.71 during trading on Friday, reaching $485.21. 429,674 shares of the stock traded hands, compared to its average volume of 186,186. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The company has a 50-day moving average of $485.44 and a 200-day moving average of $491.05. The stock has a market capitalization of $19.59 billion, a P/E ratio of 37.50 and a beta of 0.95.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.23%. Watsco's dividend payout ratio (DPR) is presently 83.46%.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.86% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on WSO shares. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. Northcoast Research started coverage on Watsco in a research report on Friday, November 22nd. They set a "neutral" rating for the company. Finally, Robert W. Baird dropped their target price on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $488.33.

Watsco Company 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.