C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1 Million in Watsco, Inc. (NYSE:WSO)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in Watsco, Inc. (NYSE:WSO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,117 shares of the construction company's stock, valued at approximately $1,003,000.

A number of other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Watsco during the third quarter valued at approximately $282,000. CWM LLC grew its holdings in shares of Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company's stock worth $468,000 after acquiring an additional 24 shares during the period. Koshinski Asset Management Inc. purchased a new stake in Watsco during the third quarter valued at $202,000. Creative Planning increased its position in Watsco by 7.7% during the third quarter. Creative Planning now owns 5,212 shares of the construction company's stock valued at $2,564,000 after acquiring an additional 371 shares during the last quarter. Finally, Carderock Capital Management Inc. lifted its holdings in Watsco by 16.5% in the third quarter. Carderock Capital Management Inc. now owns 12,987 shares of the construction company's stock valued at $6,388,000 after acquiring an additional 1,840 shares during the period. Institutional investors own 89.71% of the company's stock.

Wall Street Analysts Forecast Growth

WSO has been the subject of several research reports. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a "market perform" rating for the company. Robert W. Baird decreased their price target on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Finally, Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They set a "neutral" rating for the company. 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, Watsco presently has a consensus rating of "Hold" and an average target price of $488.33.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company'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 transaction of $5,589,293.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.86% of the company's stock.

Watsco Stock Performance

Shares of Watsco stock traded up $8.71 on Monday, hitting $485.21. 429,674 shares of the company traded hands, compared to its average volume of 186,186. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The business has a 50-day simple moving average of $484.70 and a 200 day simple moving average of $491.17. The stock 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 company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend was Friday, January 17th. Watsco's dividend payout ratio is presently 83.46%.

Watsco 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.