C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Purchases New Stake in Watsco, Inc. (NYSE:WSO)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,117 shares of the construction company’s stock, valued at approximately $1,003,000.

A number of other large investors have also added to or reduced their stakes in WSO. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco during the fourth quarter worth about $36,000. Ashton Thomas Securities LLC bought a new position in Watsco during the 3rd quarter valued at approximately $43,000. Quarry LP lifted its holdings in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares during the period. Brooklyn Investment Group bought a new stake in shares of Watsco in the 3rd quarter worth approximately $48,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Watsco during the fourth quarter valued at approximately $50,000. Institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 12.86% of the company’s stock.

Watsco Price Performance

NYSE:WSO opened at $475.62 on Friday. The firm’s 50-day moving average price is $486.28 and its 200-day moving average price is $491.11. The company has a market capitalization of $19.21 billion, a PE ratio of 36.76 and a beta of 0.95. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41.

Watsco Dividend Announcement

The firm also recently announced 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 of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. Watsco’s payout ratio is 83.46%.

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.