Marks Group Wealth Management Inc Has $8.31 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

Marks Group Wealth Management Inc reduced its position in shares of Watsco, Inc. (NYSE:WSO) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,527 shares of the construction company’s stock after selling 641 shares during the period. Marks Group Wealth Management Inc’s holdings in Watsco were worth $8,306,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wingate Wealth Advisors Inc. acquired a new stake in Watsco in the fourth quarter valued at approximately $36,000. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco during the 3rd quarter valued at $43,000. Quarry LP grew its position in Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares during the last quarter. Brooklyn Investment Group bought a new stake in Watsco during the 3rd quarter worth $48,000. Finally, Golden State Wealth Management LLC acquired a new position in Watsco in the 4th quarter worth about $50,000. 89.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.86% of the company’s stock.

Analyst Ratings Changes

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

Watsco Trading Up 0.9 %

Watsco stock opened at $471.99 on Wednesday. The firm has a market capitalization of $19.06 billion, a price-to-earnings ratio of 36.48 and a beta of 0.95. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The firm’s fifty day moving average price is $488.57 and its two-hundred day moving average price is $491.37.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. 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 (DPR) is presently 83.46%.

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.