Shaker Investments LLC OH Cuts Stake in Watsco, Inc. (NYSE:WSO)

Shaker Investments LLC OH decreased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 59.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,059 shares of the construction company's stock after selling 4,512 shares during the period. Shaker Investments LLC OH's holdings in Watsco were worth $1,450,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco in the fourth quarter valued at approximately $36,000. Ashton Thomas Securities LLC purchased a new position in Watsco in the 3rd quarter valued at approximately $43,000. Quarry LP raised its holdings in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company's stock valued at $44,000 after acquiring an additional 33 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Watsco during the third quarter worth $48,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Watsco in the fourth quarter worth $50,000. Hedge funds and other institutional investors own 89.71% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of the firm'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 SEC, which is available through this link. Corporate insiders own 12.86% of the company's stock.

Watsco Stock Up 1.8 %

Shares of WSO stock traded up $8.42 on Friday, reaching $484.92. The company's stock had a trading volume of 218,906 shares, compared to its average volume of 211,668. The company has a market capitalization of $19.58 billion, a P/E ratio of 37.46 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 stock's 50 day simple moving average is $486.28 and its 200-day simple moving average is $491.11.

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 issued a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.23%. Watsco's payout ratio is currently 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.