Entropy Technologies LP Acquires Shares of 1,357 Watsco, Inc. (NYSE:WSO)

Entropy Technologies LP acquired a new position in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,357 shares of the construction company’s stock, valued at approximately $643,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC raised its stake in Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after buying an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position 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 acquiring an additional 62,041 shares in the last quarter. State Street Corp raised its position in shares of Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after acquiring an additional 65,846 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 last quarter. Finally, Markel Group Inc. boosted its holdings in Watsco by 2.0% in the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock valued at $286,520,000 after purchasing an additional 11,250 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

WSO has been the topic of a number of research analyst reports. Northcoast Research initiated coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Raymond James initiated coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. 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 research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.86% of the stock is currently owned by insiders.

Watsco Trading Up 0.9 %

Shares of NYSE WSO opened at $471.99 on Wednesday. The stock has a market cap of $19.06 billion, a P/E ratio of 36.48 and a beta of 0.95. The stock has a 50 day moving average of $488.57 and a two-hundred day moving average of $491.37. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is currently 83.46%.

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.