Confluence Wealth Services Inc. Has $1.37 Million Position in Watsco, Inc. (NYSE:WSO)

Confluence Wealth Services Inc. raised its holdings in shares of Watsco, Inc. (NYSE:WSO) by 19.9% in the 4th quarter, HoldingsChannel reports. The firm owned 2,745 shares of the construction company’s stock after buying an additional 456 shares during the period. Confluence Wealth Services Inc.’s holdings in Watsco were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of WSO. FMR LLC boosted 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 worth $1,782,651,000 after buying an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Watsco by 5.2% during 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 acquiring an additional 62,041 shares during the period. State Street Corp grew 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 valued at $577,350,000 after purchasing an additional 65,846 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after purchasing an additional 63,254 shares during the period. Finally, Markel Group Inc. lifted its holdings in 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 purchasing an additional 11,250 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Trading Down 0.6 %

Shares of NYSE:WSO opened at $474.55 on Wednesday. The stock has a market capitalization of $19.16 billion, a PE ratio of 36.67 and a beta of 0.95. The firm has a 50 day moving average of $496.47 and a 200-day moving average of $492.30. 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. Shareholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio is presently 83.46%.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the 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 is accessible through the SEC website. Company insiders own 12.86% of the company’s stock.

Analysts Set New Price Targets

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