Stratos Wealth Partners LTD. lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,883 shares of the construction company’s stock after selling 1,142 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Watsco were worth $4,402,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Schonfeld Strategic Advisors LLC purchased a new position in Watsco in the 3rd quarter worth $711,000. Brinker Capital Investments LLC acquired a new stake in shares of Watsco during the 3rd quarter valued at about $2,396,000. Strs Ohio acquired a new stake in shares of Watsco during the 3rd quarter valued at about $1,532,000. HM Payson & Co. grew its position in shares of Watsco by 170.0% during the 3rd quarter. HM Payson & Co. now owns 405 shares of the construction company’s stock valued at $94,000 after acquiring an additional 255 shares during the period. Finally, Bath Savings Trust Co boosted its holdings in Watsco by 1.2% in the 4th quarter. Bath Savings Trust Co now owns 26,942 shares of the construction company’s stock worth $6,104,000 after buying an additional 322 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.
NYSE:WSO opened at $295.46 on Tuesday. The company has a fifty day simple moving average of $272.65 and a two-hundred day simple moving average of $245.05. The company has a market cap of $11.41 billion, a price-to-earnings ratio of 48.44 and a beta of 0.79. The company has a quick ratio of 1.22, a current ratio of 2.55 and a debt-to-equity ratio of 0.02. Watsco, Inc. has a 52 week low of $150.09 and a 52 week high of $298.19.
The firm also recently declared a quarterly dividend, which was paid on Friday, April 30th. Shareholders of record on Thursday, April 15th were paid a $1.95 dividend. This is an increase from Watsco’s previous quarterly dividend of $1.78. The ex-dividend date was Wednesday, April 14th. This represents a $7.80 annualized dividend and a dividend yield of 2.64%. Watsco’s payout ratio is 120.00%.
WSO has been the topic of several research analyst reports. William Blair reiterated an “outperform” rating on shares of Watsco in a report on Wednesday, January 20th. JPMorgan Chase & Co. upgraded Watsco from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $185.00 to $218.00 in a report on Monday, March 1st. Jefferies Financial Group boosted their target price on Watsco from $230.00 to $250.00 and gave the stock a “hold” rating in a report on Friday, January 15th. Morgan Stanley lifted their price target on shares of Watsco from $244.00 to $266.00 and gave the company an “equal weight” rating in a research report on Monday, April 26th. Finally, Vertical Research raised Watsco from a “sell” rating to a “hold” rating in a research report on Monday, January 4th. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Watsco has an average rating of “Hold” and an average target price of $248.50.
In other Watsco news, EVP Barry S. Logan sold 5,500 shares of the business’s stock in a transaction on Wednesday, April 28th. The shares were sold at an average price of $294.14, for a total value of $1,617,770.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.61% of the company’s stock.
Watsco Company Profile
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, including gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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