Kestra Private Wealth Services LLC Boosts Stake in Watsco, Inc. (NYSE:WSO)

Kestra Private Wealth Services LLC lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 37.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,337 shares of the construction company’s stock after buying an additional 364 shares during the period. Kestra Private Wealth Services LLC’s holdings in Watsco were worth $634,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank grew its stake in Watsco by 32.2% during the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock valued at $2,094,000 after purchasing an additional 1,038 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in Watsco by 40.6% in the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after buying an additional 929 shares during the last quarter. Larson Financial Group LLC increased its holdings in Watsco by 3,571.0% in the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock worth $560,000 after buying an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its holdings in Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after buying an additional 1,074 shares during the period. Finally, Franklin Resources Inc. raised its position in Watsco by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after buying an additional 2,738 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.86% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Robert W. Baird decreased their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $488.33.

Watsco Stock Performance

WSO stock opened at $485.21 on Friday. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The firm’s fifty day moving average is $485.44 and its 200 day moving average is $490.99. The firm has a market cap of $19.59 billion, a PE ratio of 37.50 and a beta of 0.95.

Watsco Announces Dividend

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