Flagship Harbor Advisors LLC reduced its position in Watsco, Inc. (NYSE:WSO – Free Report) by 24.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,060 shares of the construction company’s stock after selling 352 shares during the period. Flagship Harbor Advisors LLC’s holdings in Watsco were worth $502,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new position in Watsco in the second quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new stake in Watsco in the third quarter worth approximately $43,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Watsco by 30.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after purchasing an additional 22 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of Watsco during the 3rd quarter valued at $48,000. Finally, MCF Advisors LLC lifted 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 purchasing an additional 25 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.
Watsco Stock Performance
Shares of NYSE:WSO opened at $486.89 on Wednesday. The stock’s 50-day moving average is $503.62 and its 200-day moving average is $493.12. The company has a market cap of $19.66 billion, a P/E ratio of 37.63 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 Dividend Announcement
Insiders Place Their Bets
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. Company insiders own 12.86% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have weighed in on WSO. Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Robert W. Baird cut their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $488.33.
View Our Latest Research Report on WSO
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.
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