Exchange Traded Concepts LLC Invests $2.41 Million in Watsco, Inc. (NYSE:WSO)

Exchange Traded Concepts LLC acquired a new position in Watsco, Inc. (NYSE:WSO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,093 shares of the construction company’s stock, valued at approximately $2,414,000.

Other institutional investors have also made changes to their positions in the company. Quarry LP bought a new stake in Watsco during the second quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in Watsco during the third quarter worth $43,000. Massmutual Trust Co. FSB ADV raised its position in Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares in the last quarter. Brooklyn Investment Group bought a new stake in Watsco during the third quarter worth $48,000. Finally, MCF Advisors LLC raised its position in Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Price Performance

NYSE:WSO opened at $494.93 on Monday. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The company has a market cap of $19.99 billion, a P/E ratio of 38.25 and a beta of 0.95. The firm’s fifty day moving average price is $505.31 and its two-hundred day moving average price is $493.17.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a $2.70 dividend. The ex-dividend date is Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.18%. Watsco’s dividend payout ratio is currently 83.46%.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the company’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 filing with the SEC, which is available through the SEC website. 12.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WSO has been the topic of several analyst reports. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Robert W. Baird dropped their price target 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 investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Watsco presently has an average rating of “Hold” and a consensus price target of $488.33.

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.