Watsco, Inc. (NYSE:WSO) Holdings Cut by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc decreased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,527 shares of the construction company's stock after selling 641 shares during the period. Marks Group Wealth Management Inc's holdings in Watsco were worth $8,306,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC boosted its holdings in shares of Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock valued at $567,000 after acquiring an additional 21 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Watsco by 1.0% in the fourth quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the construction company's stock valued at $4,597,000 after acquiring an additional 100 shares in the last quarter. Regents Gate Capital LLP bought a new position in shares of Watsco in the fourth quarter valued at approximately $8,476,000. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco in the fourth quarter valued at approximately $36,000. Finally, Kestra Private Wealth Services LLC boosted its holdings in shares of Watsco by 37.4% in the fourth quarter. Kestra Private Wealth Services LLC now owns 1,337 shares of the construction company's stock valued at $634,000 after acquiring an additional 364 shares in the last quarter. Institutional investors own 89.71% of the company's stock.

Insider Activity at Watsco

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

Watsco Stock Up 1.8 %

NYSE:WSO traded up $8.71 during trading hours on Friday, reaching $485.21. 429,674 shares of the company's stock were exchanged, compared to its average volume of 186,186. The company has a market capitalization of $19.59 billion, a P/E ratio of 37.50 and a beta of 0.95. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41. The business's 50-day simple moving average is $485.44 and its two-hundred day simple moving average is $490.99.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a $2.70 dividend. 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 (DPR) is presently 83.46%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WSO. Raymond James began coverage on shares of Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They set a "neutral" rating for the company. Finally, Robert W. Baird reduced their target price on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Watsco presently has an average rating of "Hold" and a consensus target price of $488.33.

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.