Watsco, Inc. (NYSE:WSO) Shares Sold by Vision Capital Management Inc.

Vision Capital Management Inc. reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 0.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,721 shares of the construction company’s stock after selling 71 shares during the period. Watsco comprises approximately 1.2% of Vision Capital Management Inc.’s holdings, making the stock its 23rd largest holding. Vision Capital Management Inc.’s holdings in Watsco were worth $7,924,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its position in shares of 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 acquiring an additional 346,470 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock worth $616,357,000 after buying an additional 62,041 shares during the last quarter. State Street Corp grew its stake in Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after buying an additional 65,846 shares during the last quarter. Geode Capital Management LLC grew its stake in Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after buying an additional 63,254 shares during the last quarter. Finally, Markel Group Inc. grew its stake in Watsco by 2.0% during the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after buying an additional 11,250 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on WSO shares. Raymond James started coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird lowered 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. Finally, Northcoast Research started coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Watsco currently has a consensus rating of “Hold” and an average price target of $488.33.

Watsco Stock Performance

NYSE:WSO opened at $473.37 on Thursday. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of 36.58 and a beta of 0.95. The business has a fifty day moving average of $494.85 and a 200-day moving average of $492.17. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.28%. Watsco’s dividend payout ratio (DPR) is 83.46%.

Insider Activity

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

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.