Welch & Forbes LLC acquired a new position in Watsco Inc (NYSE:WSO) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 16,518 shares of the construction company’s stock, valued at approximately $2,299,000.
Several other institutional investors have also bought and sold shares of WSO. Taylor Hoffman Wealth Management bought a new position in Watsco during the fourth quarter valued at about $66,000. Capital Investment Advisory Services LLC bought a new position in Watsco during the fourth quarter valued at about $70,000. Ipswich Investment Management Co. Inc. bought a new position in Watsco during the fourth quarter valued at about $87,000. Quantamental Technologies LLC bought a new position in Watsco during the fourth quarter valued at about $111,000. Finally, First Hawaiian Bank increased its stake in Watsco by 16.8% during the fourth quarter. First Hawaiian Bank now owns 885 shares of the construction company’s stock valued at $123,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 85.75% of the company’s stock.
NYSE WSO traded up $2.09 during trading on Tuesday, reaching $150.55. 4,775 shares of the company traded hands, compared to its average volume of 237,957. The company has a market capitalization of $5.43 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.66 and a beta of 0.96. Watsco Inc has a 1-year low of $131.88 and a 1-year high of $192.94.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 31st. Shareholders of record on Wednesday, January 16th were issued a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a yield of 4.25%. This is an increase from Watsco’s previous quarterly dividend of $1.45. The ex-dividend date was Tuesday, January 15th. Watsco’s payout ratio is presently 116.79%.
Several equities analysts recently issued reports on WSO shares. Morgan Stanley started coverage on Watsco in a research note on Tuesday, December 18th. They set an “equal weight” rating and a $144.00 price target on the stock. Buckingham Research lowered their price target on Watsco from $187.00 to $167.00 and set a “neutral” rating on the stock in a research note on Friday, October 26th. Finally, Zacks Investment Research upgraded Watsco from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $176.00.
In other Watsco news, SVP Barry S. Logan sold 2,500 shares of Watsco stock in a transaction that occurred on Thursday, December 20th. The stock was sold at an average price of $141.27, for a total transaction of $353,175.00. Following the sale, the senior vice president now directly owns 13,300 shares of the company’s stock, valued at $1,878,891. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.45% of the stock is currently owned by insiders.
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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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