Groesbeck Investment Management Corp NJ Has $325,000 Stake in Watsco, Inc. (NYSE:WSO)

Groesbeck Investment Management Corp NJ reduced its holdings in Watsco, Inc. (NYSE:WSO) by 53.8% in the 4th quarter, Holdings Channel reports. The fund owned 686 shares of the construction company’s stock after selling 800 shares during the quarter. Groesbeck Investment Management Corp NJ’s holdings in Watsco were worth $325,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of WSO. Quarry LP bought a new stake in shares of Watsco in the second quarter worth about $26,000. Ashton Thomas Securities LLC bought a new position in shares of Watsco during the third quarter worth about $43,000. Brooklyn Investment Group bought a new position in shares of Watsco during the third quarter worth about $48,000. MCF Advisors LLC grew its holdings in shares of Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after buying an additional 25 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Watsco during the fourth quarter worth about $90,000. 89.71% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Shares of NYSE WSO opened at $474.55 on Wednesday. The stock has a 50 day moving average price of $496.47 and a 200 day moving average price of $492.30. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The stock has a market capitalization of $19.16 billion, a PE ratio of 36.67 and a beta of 0.95.

Watsco Announces Dividend

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

Analyst Ratings Changes

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

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.