OLD National Bancorp IN Trims Holdings in Watsco, Inc. (NYSE:WSO)

OLD National Bancorp IN trimmed its position in Watsco, Inc. (NYSE:WSO) by 7.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,097 shares of the construction company’s stock after selling 424 shares during the period. OLD National Bancorp IN’s holdings in Watsco were worth $2,415,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC lifted 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 valued at $1,475,000 after purchasing an additional 20 shares in the last quarter. My Legacy Advisors LLC lifted its holdings in shares of Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after acquiring an additional 21 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Watsco by 30.6% during 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 period. CWM LLC lifted its holdings in shares of Watsco by 2.6% during the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after acquiring an additional 24 shares during the period. Finally, MCF Advisors LLC lifted 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 period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Performance

WSO opened at $483.62 on Friday. The firm has a 50 day moving average price of $501.33 and a 200 day moving average price of $492.98. The company has a market cap of $19.53 billion, a PE ratio of 37.37 and a beta of 0.95. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 12.86% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.