Benchmark Financial Wealth Advisors LLC Makes New $909,000 Investment in Watsco, Inc. (NYSE:WSO)

Benchmark Financial Wealth Advisors LLC purchased a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,919 shares of the construction company's stock, valued at approximately $909,000.

Several other hedge funds have also recently bought and sold shares of WSO. Toronto Dominion Bank boosted its holdings in Watsco by 32.2% in 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 period. 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 in the last quarter. Larson Financial Group LLC grew its position in Watsco by 3,571.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company's stock worth $560,000 after acquiring an additional 1,107 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Watsco by 1.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company's stock valued at $31,853,000 after buying an additional 1,074 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Watsco by 5.6% in the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company's stock worth $25,645,000 after acquiring an additional 2,738 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Trading Down 1.8 %

Shares of NYSE WSO traded down $8.41 during mid-day trading on Friday, hitting $464.98. The company had a trading volume of 167,653 shares, compared to its average volume of 186,186. The company has a market capitalization of $18.78 billion, a PE ratio of 35.93 and a beta of 0.95. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The firm has a 50-day simple moving average of $491.50 and a two-hundred day simple moving average of $491.72.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.32%. Watsco's payout ratio is 83.46%.

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.86% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird cut their price target on Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Northcoast Research initiated coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating for the company. Finally, Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They set a "market perform" rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.