Regents Gate Capital LLP Invests $8.48 Million in Watsco, Inc. (NYSE:WSO)

Regents Gate Capital LLP bought a new stake in Watsco, Inc. (NYSE:WSO) in the 4th quarter, Holdings Channel reports. The firm bought 17,887 shares of the construction company’s stock, valued at approximately $8,476,000. Watsco makes up approximately 3.4% of Regents Gate Capital LLP’s portfolio, making the stock its 11th largest holding.

A number of other institutional investors have also added to or reduced their stakes in the company. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco in the 4th quarter valued at about $36,000. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter worth about $43,000. Quarry LP increased its position in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares during the last quarter. Brooklyn Investment Group acquired a new position in Watsco during the third quarter worth approximately $48,000. Finally, Golden State Wealth Management LLC bought a new stake in Watsco in the fourth quarter valued at approximately $50,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Trading Down 1.8 %

NYSE:WSO opened at $464.98 on Monday. The stock has a 50 day simple moving average of $491.50 and a 200 day simple moving average of $491.80. The stock has a market cap of $18.78 billion, a P/E ratio of 35.93 and a beta of 0.95. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41.

Watsco Dividend Announcement

The firm 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 was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.32%. Watsco’s payout ratio is presently 83.46%.

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 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 filing with the Securities & Exchange Commission, which is available at this link. 12.86% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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