Watsco, Inc. (NYSE:WSO) Stake Cut by OLD National Bancorp IN

OLD National Bancorp IN cut its position in shares of Watsco, Inc. (NYSE:WSO) by 7.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,097 shares of the construction company’s stock after selling 424 shares during the quarter. OLD National Bancorp IN’s holdings in Watsco were worth $2,415,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Watsco during the second quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Watsco during the third quarter valued at $43,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares during the period. Brooklyn Investment Group acquired a new position in shares of Watsco during the third quarter valued at $48,000. Finally, MCF Advisors LLC boosted its holdings in shares of Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after acquiring an additional 25 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Watsco Trading Up 0.4 %

Shares of Watsco stock opened at $483.62 on Friday. The company’s 50-day moving average price is $501.33 and its two-hundred day moving average price is $492.98. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The stock has a market cap of $19.53 billion, a PE ratio of 37.37 and a beta of 0.95.

Watsco Announces Dividend

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 dividend of $2.70 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.23%. Watsco’s payout ratio is presently 83.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Robert W. Baird cut their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Northcoast Research assumed coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Finally, Raymond James assumed coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $488.33.

Insiders Place Their Bets

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 filing with the SEC, which is available at this hyperlink. Corporate insiders own 12.86% of the company’s stock.

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.