Watsco, Inc. (NYSE:WSO) Holdings Trimmed by Grace & White Inc. NY

Grace & White Inc. NY lessened its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,200 shares of the construction company's stock after selling 750 shares during the quarter. Watsco makes up about 3.5% of Grace & White Inc. NY's portfolio, making the stock its 6th biggest holding. Grace & White Inc. NY owned 0.10% of Watsco worth $18,576,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in WSO. FMR LLC increased its position in shares of Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock worth $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Watsco by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock worth $616,357,000 after buying an additional 62,041 shares in the last quarter. State Street Corp grew its holdings in shares of Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock worth $577,350,000 after buying an additional 65,846 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Watsco by 9.9% in the third 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. lifted its stake in shares of Watsco by 2.0% in the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock worth $286,520,000 after buying an additional 11,250 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction 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 SEC, which is available at this link. 12.86% of the stock is currently owned by company insiders.

Watsco Trading Up 1.8 %

WSO stock traded up $8.71 during trading on Friday, reaching $485.21. 429,674 shares of the stock were exchanged, compared to its average volume of 186,186. The business has a 50 day moving average price of $485.44 and a 200-day moving average price of $491.05. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The firm has a market capitalization of $19.59 billion, a price-to-earnings ratio of 37.50 and a beta of 0.95.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Friday, January 17th. Watsco's dividend payout ratio is presently 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.