Watsco, Inc. (NYSE:WSO) Shares Sold by Mayflower Financial Advisors LLC

Mayflower Financial Advisors LLC reduced its stake in Watsco, Inc. (NYSE:WSO) by 17.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,503 shares of the construction company’s stock after selling 326 shares during the period. Mayflower Financial Advisors LLC’s holdings in Watsco were worth $712,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its position in Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after purchasing an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Watsco by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock valued at $616,357,000 after buying an additional 62,041 shares during the last quarter. State Street Corp boosted its holdings in shares of Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after acquiring an additional 65,846 shares during the period. Geode Capital Management LLC grew its position in shares of 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 acquiring an additional 63,254 shares during the last quarter. Finally, Markel Group Inc. increased its holdings in shares of Watsco by 2.0% in the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after acquiring an additional 11,250 shares during the period. 89.71% of the stock is owned by institutional investors.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 12.86% of the company’s stock.

Analysts Set New Price Targets

WSO has been the subject of a number of analyst reports. Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Raymond James began coverage on Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Robert W. Baird reduced their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $488.33.

Watsco Price Performance

Shares of NYSE:WSO opened at $482.64 on Thursday. The stock has a market cap of $19.49 billion, a price-to-earnings ratio of 37.30 and a beta of 0.95. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41. The stock’s 50 day moving average price is $502.60 and its 200 day moving average price is $493.05.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $2.70 dividend. The ex-dividend date is Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.24%. Watsco’s dividend payout ratio (DPR) is 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.