Watsco, Inc. (NYSE:WSO) is Grace & White Inc. NY’s 6th Largest Position

Grace & White Inc. NY cut its stake in shares of Watsco, Inc. (NYSE:WSO) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 39,200 shares of the construction company’s stock after selling 750 shares during the period. Watsco comprises about 3.5% of Grace & White Inc. NY’s investment portfolio, making the stock its 6th biggest position. Grace & White Inc. NY owned approximately 0.10% of Watsco worth $18,576,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco in the fourth quarter worth approximately $36,000. Ashton Thomas Securities LLC purchased a new position in shares of Watsco during the 3rd quarter valued at $43,000. Quarry LP boosted 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 buying an additional 33 shares during the period. Brooklyn Investment Group purchased a new stake in Watsco in the 3rd quarter worth $48,000. Finally, Golden State Wealth Management LLC bought a new stake in Watsco during the fourth quarter valued at about $50,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 12.86% of the stock is currently owned by company insiders.

Watsco Stock Down 0.2 %

WSO opened at $470.84 on Thursday. The company has a market capitalization of $19.01 billion, a PE ratio of 36.39 and a beta of 0.95. The firm has a 50-day simple moving average of $487.24 and a two-hundred day simple moving average of $491.22. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41.

Watsco Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is presently 83.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WSO. Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Robert W. Baird cut their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock 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.