Golden State Wealth Management LLC Makes New $50,000 Investment in Watsco, Inc. (NYSE:WSO)

Golden State Wealth Management LLC purchased a new stake in shares of Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 106 shares of the construction company’s stock, valued at approximately $50,000.

Several other hedge funds and other institutional investors also recently modified their holdings of WSO. Sumitomo Mitsui Trust Group Inc. grew its stake in Watsco by 6.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 68,637 shares of the construction company’s stock worth $32,526,000 after buying an additional 3,879 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Watsco in the fourth quarter worth $11,337,000. Buck Wealth Strategies LLC increased its stake in Watsco by 29.5% in the fourth quarter. Buck Wealth Strategies LLC now owns 17,450 shares of the construction company’s stock valued at $8,269,000 after acquiring an additional 3,973 shares during the last quarter. Bleakley Financial Group LLC raised its position in Watsco by 8.5% during the fourth quarter. Bleakley Financial Group LLC now owns 674 shares of the construction company’s stock valued at $319,000 after purchasing an additional 53 shares in the last quarter. Finally, Centennial Wealth Advisory LLC lifted its stake in Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after purchasing an additional 22 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which can be accessed through this hyperlink. 12.86% of the stock is owned by insiders.

Watsco Price Performance

Shares of WSO stock opened at $468.16 on Tuesday. The business has a 50-day moving average of $489.99 and a 200 day moving average of $491.64. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The stock has a market capitalization of $18.91 billion, a PE ratio of 36.18 and a beta of 0.95.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.31%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio is 83.46%.

Analyst Ratings Changes

Several brokerages have recently commented on WSO. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Robert W. Baird lowered 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 investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Watsco currently has an average rating of “Hold” and a consensus target price of $488.33.

Watsco 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.