Appleton Partners Inc. MA Cuts Holdings in Watsco, Inc. (NYSE:WSO)

Appleton Partners Inc. MA lessened its position in shares of Watsco, Inc. (NYSE:WSO) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,713 shares of the construction company’s stock after selling 56 shares during the period. Appleton Partners Inc. MA’s holdings in Watsco were worth $3,181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WSO. Ashton Thomas Securities LLC purchased a new stake in shares of Watsco during the 3rd quarter worth about $43,000. Quarry LP lifted its position in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after buying an additional 33 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Watsco during the third quarter worth approximately $48,000. Golden State Wealth Management LLC acquired a new stake in shares of Watsco in the fourth quarter worth $50,000. Finally, MCF Advisors LLC raised its stake in shares of Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after acquiring an additional 25 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction that occurred on 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 document filed with the SEC, which is available through this hyperlink. 12.86% of the stock is currently owned by company insiders.

Watsco Price Performance

Watsco stock opened at $464.98 on Friday. The firm’s fifty day moving average price is $491.50 and its 200 day moving average price is $491.80. The company has a market capitalization of $18.78 billion, a price-to-earnings ratio of 35.93 and a beta of 0.95. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 83.46%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WSO shares. Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird dropped their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.