Entropy Technologies LP Purchases Shares of 1,357 Watsco, Inc. (NYSE:WSO)

Entropy Technologies LP bought a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,357 shares of the construction company's stock, valued at approximately $643,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. SG Americas Securities LLC bought a new stake in Watsco in the third quarter valued at about $282,000. CWM LLC increased its holdings in Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company's stock valued at $468,000 after buying an additional 24 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Watsco by 256.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 356 shares of the construction company's stock valued at $175,000 after buying an additional 256 shares during the last quarter. Koshinski Asset Management Inc. bought a new stake in Watsco in the third quarter valued at about $202,000. Finally, Creative Planning increased its holdings in Watsco by 7.7% in the third quarter. Creative Planning now owns 5,212 shares of the construction company's stock valued at $2,564,000 after buying an additional 371 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Up 1.8 %

WSO stock traded up $8.71 during midday trading on Friday, reaching $485.21. The company had a trading volume of 429,674 shares, compared to its average volume of 186,186. The stock has a 50 day moving average price of $485.44 and a 200 day moving average price of $491.05. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The firm has a market capitalization of $19.59 billion, a PE ratio of 37.50 and a beta of 0.95.

Watsco Announces Dividend

The firm also recently disclosed 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 of this dividend 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%.

Analyst Upgrades and Downgrades

WSO has been the subject of several research analyst reports. Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Northcoast Research initiated coverage on Watsco in a report on Friday, November 22nd. They issued a "neutral" rating for the company. Finally, Robert W. Baird lowered 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 company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $488.33.

Insider Transactions at Watsco

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 transaction of $5,589,293.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 12.86% of the company's stock.

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.