Watsco, Inc. (NYSE:WSO) Shares Sold by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC trimmed its position in Watsco, Inc. (NYSE:WSO) by 24.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,060 shares of the construction company’s stock after selling 352 shares during the period. Flagship Harbor Advisors LLC’s holdings in Watsco were worth $502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after buying an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Watsco by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock valued at $616,357,000 after acquiring an additional 62,041 shares during the last quarter. State Street Corp boosted its position in shares of Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after purchasing an additional 65,846 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Watsco by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after purchasing an additional 63,254 shares during the last quarter. Finally, Markel Group Inc. raised its holdings in shares of Watsco by 2.0% in the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after purchasing an additional 11,250 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through this link. 12.86% of the stock is currently owned by insiders.

Watsco Stock Performance

Shares of NYSE:WSO opened at $486.89 on Wednesday. The firm has a 50 day simple moving average of $503.62 and a 200 day simple moving average of $493.12. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The company has a market cap of $19.66 billion, a PE ratio of 37.63 and a beta of 0.95.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $2.70 dividend. The ex-dividend date is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.22%. Watsco’s payout ratio is currently 83.46%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WSO shares. Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Northcoast Research assumed coverage on Watsco in a research note 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.