Entropy Technologies LP Buys Shares of 1,357 Watsco, Inc. (NYSE:WSO)

Entropy Technologies LP purchased a new position in shares of Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,357 shares of the construction company’s stock, valued at approximately $643,000.

Several other institutional investors have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Watsco during the third quarter worth $43,000. Quarry LP grew its holdings 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 during the period. Brooklyn Investment Group acquired a new stake in shares of Watsco during the 3rd quarter worth about $48,000. Golden State Wealth Management LLC acquired a new stake in shares of Watsco during the 4th quarter worth about $50,000. Finally, MCF Advisors LLC raised its holdings in Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after buying an additional 25 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 12.86% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WSO. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, 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 research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $488.33.

Watsco Price Performance

Shares of NYSE:WSO opened at $471.99 on Wednesday. The firm has a market capitalization of $19.06 billion, a PE ratio of 36.48 and a beta of 0.95. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The firm’s 50-day moving average is $488.57 and its two-hundred day moving average is $491.37.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s 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.