Golden State Wealth Management LLC Acquires New Stake in Watsco, Inc. (NYSE:WSO)

Golden State Wealth Management LLC acquired a new stake in shares of Watsco, Inc. (NYSE:WSO) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 106 shares of the construction company’s stock, valued at approximately $50,000.

Several other hedge funds have also added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in Watsco in the third quarter worth about $282,000. CWM LLC raised its holdings in Watsco by 2.6% in the 3rd quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after acquiring an additional 24 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Watsco by 256.0% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 356 shares of the construction company’s stock valued at $175,000 after acquiring an additional 256 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in Watsco during the 3rd quarter valued at $202,000. Finally, Creative Planning increased its holdings in shares of Watsco by 7.7% in the 3rd quarter. Creative Planning now owns 5,212 shares of the construction company’s stock worth $2,564,000 after purchasing an additional 371 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Insider Activity at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.86% of the stock is currently owned by company insiders.

Watsco Stock Performance

Shares of NYSE:WSO opened at $468.16 on Tuesday. The stock’s 50-day simple moving average is $489.99 and its two-hundred day simple moving average is $491.64. The stock has a market capitalization of $18.91 billion, a price-to-earnings ratio of 36.18 and a beta of 0.95. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors 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 2.31%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 83.46%.

Analyst Upgrades and Downgrades

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