Connor Clark & Lunn Investment Management Ltd. Has $8.57 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in Watsco, Inc. (NYSE:WSO) by 20.4% in the 4th quarter, Holdings Channel reports. The firm owned 18,075 shares of the construction company’s stock after selling 4,624 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Watsco were worth $8,566,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Rialto Wealth Management LLC acquired a new stake in shares of Watsco in the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco in the 4th quarter valued at approximately $36,000. Quarry LP lifted its holdings in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group bought a new stake in Watsco during the third quarter worth approximately $48,000. Finally, Golden State Wealth Management LLC acquired a new position in Watsco during the fourth quarter valued at approximately $50,000. 89.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the company’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 document filed with the SEC, which can be accessed through this link. Corporate insiders own 12.86% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on WSO shares. Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Loop Capital upped their price target on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th. Robert W. Baird lifted their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 19th. Finally, Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $486.25.

Watsco Stock Up 3.4 %

WSO stock opened at $508.47 on Friday. The business’s 50-day simple moving average is $489.58 and its 200 day simple moving average is $495.15. Watsco, Inc. has a twelve month low of $396.82 and a twelve month high of $571.42. The company has a market cap of $20.54 billion, a PE ratio of 38.38 and a beta of 0.92.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. On average, equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.12%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

About Watsco

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.