Mirae Asset Global Investments Co. Ltd. Grows Holdings in Watsco, Inc. (NYSE:WSO)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 27.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,179 shares of the construction company's stock after purchasing an additional 5,482 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Watsco worth $12,085,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Ashton Thomas Securities LLC acquired a new position in Watsco during the third quarter worth $43,000. Quarry LP increased its position in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after buying an additional 33 shares during the last quarter. Brooklyn Investment Group acquired a new position in Watsco during the third quarter worth $48,000. MCF Advisors LLC increased its position in Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock worth $57,000 after buying an additional 25 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Watsco during the fourth quarter worth $90,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WSO has been the topic of several analyst reports. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a "market perform" rating on the stock. Robert W. Baird lowered their price target on 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 initiated coverage on Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $488.33.

Insider Activity

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

Watsco Price Performance

Shares of NYSE WSO traded up $1.88 during mid-day trading on Monday, hitting $467.01. The company had a trading volume of 97,656 shares, compared to its average volume of 208,250. The business's 50-day simple moving average is $491.50 and its 200-day simple moving average is $491.80. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41. The firm has a market cap of $18.86 billion, a P/E ratio of 36.10 and a beta of 0.95.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date was Friday, January 17th. Watsco's dividend payout ratio is 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.