Watsco, Inc. (NYSE:WSO) Position Reduced by Vantage Investment Partners LLC

Vantage Investment Partners LLC reduced its position in Watsco, Inc. (NYSE:WSO) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,205 shares of the construction company’s stock after selling 794 shares during the period. Vantage Investment Partners LLC owned about 0.06% of Watsco worth $12,418,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. KBC Group NV grew its position in Watsco by 6.5% during the 4th quarter. KBC Group NV now owns 6,245 shares of the construction company’s stock worth $2,959,000 after purchasing an additional 380 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Watsco by 28.1% in the fourth quarter. Blue Trust Inc. now owns 675 shares of the construction company’s stock worth $332,000 after buying an additional 148 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Watsco by 11.6% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,532 shares of the construction company’s stock valued at $5,465,000 after buying an additional 1,195 shares in the last quarter. First Citizens Bank & Trust Co. raised its position in Watsco by 8.7% during the fourth quarter. First Citizens Bank & Trust Co. now owns 674 shares of the construction company’s stock valued at $319,000 after buying an additional 54 shares during the period. Finally, Running Oak Capital LLC raised its position in Watsco by 4.1% during the fourth quarter. Running Oak Capital LLC now owns 28,659 shares of the construction company’s stock valued at $13,581,000 after buying an additional 1,135 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.86% of the company’s stock.

Watsco Price Performance

Shares of Watsco stock opened at $489.15 on Tuesday. The firm has a market cap of $19.75 billion, a price-to-earnings ratio of 37.80 and a beta of 0.95. The stock has a 50-day simple moving average of $504.55 and a 200-day simple moving average of $493.16. 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 announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Wall Street Analysts Forecast Growth

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