Lee Financial Co Sells 68 Shares of Watsco, Inc. (NYSE:WSO)

Lee Financial Co trimmed its holdings in shares of Watsco, Inc. (NYSE:WSO) by 1.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,223 shares of the construction company’s stock after selling 68 shares during the quarter. Lee Financial Co’s holdings in Watsco were worth $2,001,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new position in Watsco in the fourth quarter worth approximately $36,000. Ashton Thomas Securities LLC bought a new position in shares of Watsco during the 3rd quarter worth $43,000. Quarry LP increased its stake in shares of Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after buying an additional 33 shares during the period. Brooklyn Investment Group bought a new stake in shares of Watsco in the third quarter valued at about $48,000. Finally, Golden State Wealth Management LLC purchased a new stake in Watsco in the fourth quarter worth about $50,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Up 1.8 %

NYSE WSO opened at $485.21 on Friday. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The company has a 50 day moving average price of $485.44 and a 200 day moving average price of $491.05. The firm has a market cap of $19.59 billion, a PE ratio of 37.50 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 issued a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.23%. Watsco’s dividend payout ratio is presently 83.46%.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 12.86% of the company’s stock.

Analyst Upgrades and Downgrades

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