Strategic Financial Concepts LLC Takes $11.34 Million Position in Watsco, Inc. (NYSE:WSO)

Strategic Financial Concepts LLC acquired a new stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 23,923 shares of the construction company's stock, valued at approximately $11,337,000. Strategic Financial Concepts LLC owned approximately 0.06% of Watsco at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WSO. Ashton Thomas Securities LLC purchased a new stake in shares of Watsco during the 3rd quarter valued at $43,000. Quarry LP increased its position in shares of 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 purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Watsco during the 3rd quarter valued at $48,000. MCF Advisors LLC increased its position in shares of Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock valued at $57,000 after purchasing an additional 25 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Watsco during the 4th quarter valued at $90,000. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They set a "neutral" rating for the company. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Finally, Robert W. Baird decreased 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's stock. According to data from MarketBeat, Watsco currently has an average rating of "Hold" and an average price target of $488.33.

Insider Activity

In related 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 value of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 12.86% of the company's stock.

Watsco Price Performance

WSO stock traded down $1.16 during mid-day trading on Wednesday, reaching $470.84. 217,333 shares of the company traded hands, compared to its average volume of 212,308. The company has a market capitalization of $19.01 billion, a P/E ratio of 36.39 and a beta of 0.95. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The company has a fifty day moving average price of $488.57 and a 200-day moving average price of $491.37.

Watsco Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Friday, January 17th. Watsco's payout ratio is presently 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.