Tyche Wealth Partners LLC Buys Shares of 1,301 Watsco, Inc. (NYSE:WSO)

Tyche Wealth Partners LLC acquired a new stake in shares of Watsco, Inc. (NYSE:WSO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,301 shares of the construction company’s stock, valued at approximately $617,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WSO. Ashton Thomas Securities LLC bought a new stake in shares of Watsco in the 3rd quarter valued at about $43,000. Quarry LP boosted its stake in Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after acquiring an additional 33 shares in the last quarter. Brooklyn Investment Group purchased a new position in Watsco in the third quarter worth $48,000. MCF Advisors LLC increased its position 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 purchasing an additional 25 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Watsco during the 4th quarter valued at $90,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Insider Buying and Selling

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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 12.86% of the stock is currently owned by corporate insiders.

Watsco Price Performance

Shares of WSO stock opened at $473.37 on Thursday. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The firm has a market capitalization of $19.11 billion, a price-to-earnings ratio of 36.58 and a beta of 0.95. The business has a fifty day moving average of $494.85 and a 200 day moving average of $492.17.

Watsco Dividend Announcement

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 dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is presently 83.46%.

Analyst Ratings Changes

Several analysts have recently commented on WSO shares. 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. Northcoast Research began coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Watsco currently has a consensus rating of “Hold” and a consensus 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.