Watsco, Inc. (NYSE:WSO) Stock Position Decreased by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in shares of Watsco, Inc. (NYSE:WSO) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,972 shares of the construction company’s stock after selling 65 shares during the quarter. State of Alaska Department of Revenue’s holdings in Watsco were worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in WSO. FMR LLC lifted its stake in Watsco by 10.6% in the third 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 during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company’s stock valued at $616,357,000 after purchasing an additional 62,041 shares in the last quarter. State Street Corp lifted its stake in shares of Watsco by 5.9% in the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after purchasing an additional 65,846 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Watsco by 9.9% in the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after purchasing an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. increased its position in Watsco by 2.0% during the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company’s stock worth $286,520,000 after buying an additional 11,250 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Watsco stock opened at $471.99 on Wednesday. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The firm has a market capitalization of $19.06 billion, a PE ratio of 36.48 and a beta of 0.95. The business’s 50-day simple moving average is $488.57 and its 200-day simple moving average is $491.37.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.29%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio is currently 83.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WSO. Raymond James started coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Robert W. Baird decreased 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. Finally, Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and an average target price of $488.33.

Insider Transactions at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were 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 at this hyperlink. Corporate insiders own 12.86% of the company’s stock.

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.