Marks Group Wealth Management Inc Trims Position in Watsco, Inc. (NYSE:WSO)

Marks Group Wealth Management Inc trimmed its position in Watsco, Inc. (NYSE:WSO) by 3.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,527 shares of the construction company’s stock after selling 641 shares during the period. Marks Group Wealth Management Inc’s holdings in Watsco were worth $8,306,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC lifted its stake in Watsco by 10.6% in the 3rd 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. increased its holdings in shares of Watsco by 5.2% in 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 purchasing an additional 62,041 shares during the period. State Street Corp raised its position 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 worth $577,350,000 after buying an additional 65,846 shares in the last quarter. Geode Capital Management LLC boosted its stake in Watsco by 9.9% during 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 period. Finally, Markel Group Inc. grew its position in Watsco by 2.0% during 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.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WSO. Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Robert W. Baird lowered their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $488.33.

Watsco Stock Performance

WSO stock opened at $471.99 on Wednesday. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The company has a market capitalization of $19.06 billion, a PE ratio of 36.48 and a beta of 0.95. The company’s 50 day moving average price is $488.57 and its two-hundred day moving average price is $491.37.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.29%. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Insider Buying and Selling

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 12.86% of the stock is owned by corporate insiders.

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.