Chicago Capital LLC Purchases Shares of 2,123 Watsco, Inc. (NYSE:WSO)

Chicago Capital LLC bought a new position in Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,123 shares of the construction company’s stock, valued at approximately $1,006,000.

Several other institutional investors have also made changes to their positions in WSO. FMR LLC lifted its holdings in shares of Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Watsco by 5.2% during the 3rd 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 last quarter. State Street Corp raised its stake in Watsco by 5.9% in the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after buying an additional 65,846 shares during the period. Geode Capital Management LLC raised its stake in Watsco by 9.9% in the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after acquiring an additional 63,254 shares during the period. Finally, Markel Group Inc. lifted its stake in shares of Watsco by 2.0% during the 3rd 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 during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WSO shares. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Finally, 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 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $488.33.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 12.86% of the stock is currently owned by company insiders.

Watsco Stock Performance

Shares of WSO opened at $477.41 on Tuesday. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The firm has a 50 day moving average price of $497.99 and a 200-day moving average price of $492.44. The firm has a market cap of $19.28 billion, a price-to-earnings ratio of 36.89 and a beta of 0.95.

Watsco Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.26%. Watsco’s dividend payout ratio is 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.