Harvey Investment Co. LLC Buys 30 Shares of Watsco, Inc. (NYSE:WSO)

Harvey Investment Co. LLC increased its stake in shares of Watsco, Inc. (NYSE:WSO) by 1.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 2,715 shares of the construction company’s stock after purchasing an additional 30 shares during the period. Harvey Investment Co. LLC’s holdings in Watsco were worth $1,287,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its holdings 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 purchasing an additional 346,470 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Watsco by 5.2% in 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 buying an additional 62,041 shares in the last quarter. State Street Corp boosted 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 valued at $577,350,000 after buying an additional 65,846 shares during the last quarter. Geode Capital Management LLC grew its holdings in Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock valued at $345,783,000 after buying an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. increased its stake in Watsco by 2.0% in the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after acquiring an additional 11,250 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

NYSE WSO opened at $473.91 on Friday. The business’s 50 day moving average price is $493.23 and its 200-day moving average price is $492.04. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The company has a market cap of $19.14 billion, a P/E ratio of 36.62 and a beta of 0.95.

Watsco Announces Dividend

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

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’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 transaction of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 12.86% of the company’s stock.

Analysts Set New Price Targets

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

Watsco Company 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.