Empowered Funds LLC Acquires 664 Shares of Watsco, Inc. (NYSE:WSO)

Empowered Funds LLC raised its position in shares of Watsco, Inc. (NYSE:WSO) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,695 shares of the construction company’s stock after buying an additional 664 shares during the period. Empowered Funds LLC’s holdings in Watsco were worth $2,699,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. EULAV Asset Management increased its holdings in shares of Watsco by 14.3% in the fourth quarter. EULAV Asset Management now owns 55,900 shares of the construction company’s stock valued at $26,490,000 after purchasing an additional 7,000 shares in the last quarter. Harvey Investment Co. LLC increased its holdings in shares of Watsco by 1.1% in the fourth quarter. Harvey Investment Co. LLC now owns 2,715 shares of the construction company’s stock valued at $1,287,000 after purchasing an additional 30 shares in the last quarter. Golden State Wealth Management LLC acquired a new stake in shares of Watsco in the fourth quarter valued at approximately $50,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Watsco by 6.0% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 68,637 shares of the construction company’s stock valued at $32,526,000 after purchasing an additional 3,879 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Watsco in the fourth quarter valued at approximately $11,337,000. Institutional investors and hedge funds 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 the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.86% of the stock is currently owned by company insiders.

Watsco Trading Up 1.0 %

Shares of Watsco stock opened at $475.62 on Friday. The company’s fifty day simple moving average is $486.28 and its two-hundred day simple moving average is $491.11. The company has a market cap of $19.21 billion, a P/E ratio of 36.76 and a beta of 0.95. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is presently 83.46%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WSO. Raymond James initiated coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Robert W. Baird decreased their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $488.33.

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.