Tyche Wealth Partners LLC Makes New Investment in Watsco, Inc. (NYSE:WSO)

Tyche Wealth Partners LLC purchased a new stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,301 shares of the construction company's stock, valued at approximately $617,000.

Other hedge funds have also made changes to their positions in the company. FMR LLC grew its stake in shares of Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock worth $1,782,651,000 after acquiring an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Watsco by 5.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock valued at $616,357,000 after purchasing an additional 62,041 shares during the last quarter. State Street Corp raised its holdings in shares of Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after buying an additional 65,846 shares during the last quarter. Geode Capital Management LLC grew its position in Watsco by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock valued at $345,783,000 after buying an additional 63,254 shares during the last quarter. Finally, Markel Group Inc. increased its position in Watsco by 2.0% during the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock worth $286,520,000 after purchasing an additional 11,250 shares during the period. Hedge funds and other institutional investors own 89.71% of the company's stock.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco 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 transaction was disclosed in a filing with the SEC, which is available through this link. 12.86% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Watsco Stock Down 1.8 %

Shares of WSO traded down $8.41 during mid-day trading on Friday, hitting $464.98. The company had a trading volume of 167,653 shares, compared to its average volume of 186,186. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The business's 50-day simple moving average is $491.50 and its 200-day simple moving average is $491.72. The stock has a market cap of $18.78 billion, a PE ratio of 35.93 and a beta of 0.95.

Watsco Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.32%. Watsco's dividend payout ratio is currently 83.46%.

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.