Buckhead Capital Management LLC Has $5.24 Million Stake in Watsco, Inc. (NYSE:WSO)

Buckhead Capital Management LLC lowered its holdings in shares of Watsco, Inc. (NYSE:WSO) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,050 shares of the construction company’s stock after selling 240 shares during the period. Watsco comprises 1.7% of Buckhead Capital Management LLC’s portfolio, making the stock its 21st largest holding. Buckhead Capital Management LLC’s holdings in Watsco were worth $5,236,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC boosted 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. lifted its stake in Watsco by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock worth $616,357,000 after purchasing an additional 62,041 shares during the period. State Street Corp lifted its stake in Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock worth $577,350,000 after purchasing an additional 65,846 shares during the period. Geode Capital Management LLC boosted its holdings in Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after purchasing an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. grew its stake in shares of Watsco by 2.0% in the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock valued at $286,520,000 after purchasing an additional 11,250 shares during the period. Institutional investors own 89.71% of the company’s stock.

Insider Activity

In other Watsco 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.86% of the stock is currently owned by corporate insiders.

Watsco Price Performance

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

Watsco Announces Dividend

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. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is presently 83.46%.

Analyst Ratings Changes

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

About Watsco

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.