Tyche Wealth Partners LLC Takes $617,000 Position in Watsco, Inc. (NYSE:WSO)

Tyche Wealth Partners LLC acquired a new position in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,301 shares of the construction company’s stock, valued at approximately $617,000.

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.86% of the stock is currently owned by insiders.

Watsco Price Performance

Shares of WSO stock opened at $473.37 on Thursday. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The firm has a market capitalization of $19.11 billion, a PE ratio of 36.58 and a beta of 0.95. The business’s fifty day moving average price is $494.85 and its 200 day moving average price is $492.17.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.28%. Watsco’s payout ratio is 83.46%.

Watsco Company 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.