WCM Investment Management LLC Has $2.94 Million Position in Watsco, Inc. (NYSE:WSO)

WCM Investment Management LLC trimmed its position in Watsco, Inc. (NYSE:WSO) by 6.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,191 shares of the construction company’s stock after selling 406 shares during the quarter. WCM Investment Management LLC’s holdings in Watsco were worth $2,939,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC boosted its holdings in Watsco by 0.7% in the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after purchasing an additional 20 shares during the period. My Legacy Advisors LLC raised its position in shares of Watsco by 3.2% in the fourth 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. Centennial Wealth Advisory LLC boosted its stake in shares of Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after buying an additional 22 shares during the period. CWM LLC grew its position in Watsco by 2.6% during the third quarter. CWM LLC now owns 952 shares of the construction company’s stock worth $468,000 after buying an additional 24 shares in the last quarter. Finally, MCF Advisors LLC increased its stake in 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 acquiring an additional 25 shares during the period. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

NYSE WSO opened at $468.16 on Tuesday. The firm’s fifty day moving average price is $489.99 and its two-hundred day moving average price is $491.64. The stock has a market cap of $18.91 billion, a PE ratio of 36.18 and a beta of 0.95. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.31%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.86% of the stock is currently owned by insiders.

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.