Naples Global Advisors LLC Sells 220 Shares of Watsco, Inc. (NYSE:WSO)

Naples Global Advisors LLC trimmed its holdings in Watsco, Inc. (NYSE:WSO) by 1.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,258 shares of the construction company’s stock after selling 220 shares during the period. Naples Global Advisors LLC’s holdings in Watsco were worth $7,704,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. J. W. Coons Advisors LLC boosted its position in shares of Watsco by 0.7% in the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock worth $1,475,000 after purchasing an additional 20 shares during the period. My Legacy Advisors LLC lifted its stake in shares of Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after buying an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after buying an additional 21 shares during the period. Centennial Wealth Advisory LLC increased its stake in Watsco by 3.0% in the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after buying an additional 22 shares in the last quarter. Finally, CWM LLC raised its holdings in Watsco by 2.6% during the third quarter. CWM LLC now owns 952 shares of the construction company’s stock valued at $468,000 after acquiring an additional 24 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Watsco Trading Down 0.2 %

Shares of NYSE:WSO opened at $470.84 on Thursday. The company has a 50-day moving average price of $487.24 and a 200 day moving average price of $491.22. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41. The company has a market cap of $19.01 billion, a price-to-earnings ratio of 36.39 and a beta of 0.95.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 83.46%.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 12.86% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. 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. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $488.33.

Watsco 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.