Confluence Wealth Services Inc. Purchases 456 Shares of Watsco, Inc. (NYSE:WSO)

Confluence Wealth Services Inc. boosted its position in Watsco, Inc. (NYSE:WSO) by 19.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,745 shares of the construction company’s stock after acquiring an additional 456 shares during the period. Confluence Wealth Services Inc.’s holdings in Watsco were worth $1,367,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Watsco in the 2nd quarter valued at about $26,000. Ashton Thomas Securities LLC bought a new position in Watsco in the third quarter valued at approximately $43,000. Brooklyn Investment Group acquired a new stake in Watsco during the 3rd quarter worth $48,000. MCF Advisors LLC raised its position in shares of Watsco by 27.8% during the 3rd 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. Finally, R Squared Ltd acquired a new position in shares of Watsco in the 4th quarter valued at $90,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction 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 document filed with the SEC, which is accessible through this link. Company insiders own 12.86% of the company’s stock.

Watsco Trading Down 0.6 %

WSO opened at $474.55 on Wednesday. The firm’s fifty day simple moving average is $496.47 and its 200 day simple moving average is $492.30. The stock has a market capitalization of $19.16 billion, a P/E ratio of 36.67 and a beta of 0.95. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41.

Watsco Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is presently 83.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird decreased 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. Finally, Northcoast Research began coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.