Lee Financial Co Trims Holdings in Watsco, Inc. (NYSE:WSO)

Lee Financial Co lowered its position in Watsco, Inc. (NYSE:WSO) by 1.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,223 shares of the construction company’s stock after selling 68 shares during the period. Lee Financial Co’s holdings in Watsco were worth $2,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Wingate Wealth Advisors Inc. acquired a new stake in Watsco during the 4th quarter valued at approximately $36,000. Ashton Thomas Securities LLC acquired a new position in Watsco during the third quarter valued at $43,000. Quarry LP boosted its holdings in Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Watsco during the 3rd quarter worth about $48,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Watsco during the 4th quarter valued at about $50,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Insider Activity at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction 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 filing with the SEC, which can be accessed through this hyperlink. 12.86% of the stock is owned by corporate insiders.

Watsco Trading Up 1.8 %

Shares of WSO stock opened at $485.21 on Friday. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41. The business’s 50 day moving average is $485.44 and its two-hundred day moving average is $491.05. The company has a market capitalization of $19.59 billion, a P/E ratio of 37.50 and a beta of 0.95.

Watsco Announces Dividend

The firm also recently announced 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 2.23%. Watsco’s dividend payout ratio (DPR) is 83.46%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WSO. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Robert W. Baird dropped their price objective 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. Finally, Raymond James initiated coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $488.33.

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.