Watsco, Inc. (NYSE:WSO) Shares Acquired by Conestoga Capital Advisors LLC

Conestoga Capital Advisors LLC increased its stake in Watsco, Inc. (NYSE:WSO) by 1.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,832 shares of the construction company’s stock after acquiring an additional 1,300 shares during the period. Conestoga Capital Advisors LLC’s holdings in Watsco were worth $46,362,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Quarry LP bought a new position in Watsco in the second quarter worth $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 raised its stake 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 worth $46,000 after buying an additional 22 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Watsco in the 3rd quarter valued at $48,000. Finally, MCF Advisors LLC grew its position in shares of Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after buying an additional 25 shares during the period. 89.71% of the stock is currently owned by institutional investors.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred 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 can be accessed through this link. 12.86% of the stock is owned by insiders.

Watsco Price Performance

Shares of WSO stock opened at $468.38 on Monday. Watsco, Inc. has a one year low of $373.33 and a one year high of $571.41. The business’s 50 day simple moving average is $499.81 and its 200 day simple moving average is $492.57. The stock has a market capitalization of $18.91 billion, a PE ratio of 36.15 and a beta of 0.95.

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 given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is currently 83.46%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WSO. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird cut their price target 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. Finally, Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.