Zurcher Kantonalbank Zurich Cantonalbank Has $6.35 Million Stake in Watsco, Inc. (NYSE:WSO)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 15.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,904 shares of the construction company's stock after selling 2,311 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Watsco were worth $6,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. J. W. Coons Advisors LLC increased its holdings in Watsco by 0.7% in the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company's stock worth $1,475,000 after purchasing an additional 20 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its holdings in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company's stock worth $46,000 after purchasing an additional 22 shares during the last quarter. CWM LLC increased its stake in shares of Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company's stock valued at $468,000 after buying an additional 24 shares during the period. MCF Advisors LLC boosted its position in 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 buying an additional 25 shares during the period. Finally, Equitable Trust Co. boosted its position in Watsco by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company's stock worth $574,000 after buying an additional 25 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WSO shares. Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They set a "neutral" rating for the company. Robert W. Baird cut their target price on Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Watsco presently has an average rating of "Moderate Buy" and a consensus price target of $491.25.

Watsco Price Performance

Shares of Watsco stock traded down $8.06 on Monday, hitting $543.54. 216,063 shares of the company's stock traded hands, compared to its average volume of 280,977. The company has a fifty day moving average of $506.47 and a two-hundred day moving average of $487.96. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The company has a market capitalization of $21.95 billion, a price-to-earnings ratio of 42.66 and a beta of 0.92.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company posted $4.35 earnings per share. Watsco's quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 1.99%. Watsco's dividend payout ratio is currently 83.46%.

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.