913 Shares in Watsco, Inc. (NYSE:WSO) Purchased by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. acquired a new position in shares of Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 913 shares of the construction company’s stock, valued at approximately $433,000.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its position 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 purchasing an additional 346,470 shares during the period. International Assets Investment Management LLC grew its stake in Watsco by 48,984.7% in the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock valued at $114,924,000 after buying an additional 233,167 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in Watsco by 2,128.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after acquiring an additional 102,640 shares during the period. State Street Corp lifted its position in shares of Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after acquiring an additional 65,846 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Watsco by 9.9% in the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after acquiring an additional 63,254 shares during the period. Institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

WSO has been the subject of a number of recent analyst reports. Northcoast Research initiated coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Finally, Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $488.33.

Insider Transactions at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.86% of the company’s stock.

Watsco Trading Up 1.8 %

WSO stock opened at $485.21 on Friday. The stock has a market capitalization of $19.59 billion, a price-to-earnings ratio of 37.50 and a beta of 0.95. The firm’s 50-day moving average price is $485.44 and its two-hundred day moving average price is $490.99. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.23%. Watsco’s dividend payout ratio is 83.46%.

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.