Robertson Stephens Wealth Management LLC Trims Holdings in Watsco, Inc. (NYSE:WSO)

Robertson Stephens Wealth Management LLC decreased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 63.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 489 shares of the construction company's stock after selling 862 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Watsco were worth $232,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WSO. Ashton Thomas Securities LLC bought a new position in Watsco in the 3rd quarter worth about $43,000. Quarry LP boosted its stake in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company's stock worth $44,000 after purchasing an additional 33 shares in the last quarter. Brooklyn Investment Group bought a new position in Watsco in the 3rd quarter worth about $48,000. MCF Advisors LLC raised its position in Watsco by 27.8% in the 3rd 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 purchased a new position in Watsco in the 4th quarter worth about $90,000. Institutional investors own 89.71% of the company's stock.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 12.86% of the company's stock.

Wall Street Analyst Weigh In

WSO has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Raymond James initiated coverage on Watsco in a research report on Friday, January 17th. They issued a "market perform" rating for the company. Finally, Northcoast Research started coverage on Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating for the company. Three 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.com, Watsco currently has an average rating of "Hold" and a consensus target price of $488.33.

Watsco Price Performance

Shares of NYSE:WSO 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's 50 day moving average price is $488.57 and its 200-day moving average price is $491.37. The firm has a market cap of $19.01 billion, a PE 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.

Watsco Dividend Announcement

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 $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.29%. Watsco's payout ratio is 83.46%.

Watsco Company 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.