Perigon Wealth Management LLC Takes Position in Watsco, Inc. (NYSE:WSO)

Perigon Wealth Management LLC acquired a new stake in Watsco, Inc. (NYSE:WSO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,536 shares of the construction company’s stock, valued at approximately $1,737,000.

Several other institutional investors have also modified their holdings of WSO. Creative Planning lifted its stake in shares of Watsco by 9.2% in the 2nd quarter. Creative Planning now owns 4,841 shares of the construction company’s stock valued at $2,243,000 after purchasing an additional 409 shares during the last quarter. Quarry LP bought a new stake in shares of Watsco in the 2nd quarter valued at approximately $26,000. Sanctuary Advisors LLC bought a new stake in shares of Watsco in the 2nd quarter valued at approximately $3,537,000. Massmutual Trust Co. FSB ADV lifted its stake in shares of Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Watsco in the third quarter worth approximately $282,000. 89.71% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 value of $5,589,293.58. The sale was disclosed in a filing with the SEC, which is available through this link. 12.86% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Watsco Stock Down 1.0 %

WSO opened at $482.64 on Thursday. The stock’s fifty day moving average is $502.60 and its two-hundred day moving average is $493.05. The company has a market capitalization of $19.49 billion, a P/E ratio of 37.30 and a beta of 0.95. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be issued a dividend of $2.70 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.24%. Watsco’s payout ratio is currently 83.46%.

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.