WASHINGTON TRUST Co Sells 1,967 Shares of Watsco, Inc. (NYSE:WSO)

WASHINGTON TRUST Co decreased its position in shares of Watsco, Inc. (NYSE:WSO) by 4.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,999 shares of the construction company’s stock after selling 1,967 shares during the quarter. WASHINGTON TRUST Co owned about 0.10% of Watsco worth $18,481,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its holdings in Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Watsco by 48,984.7% during the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company’s stock worth $114,924,000 after buying an additional 233,167 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Watsco by 2,128.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after acquiring an additional 102,640 shares in the last quarter. State Street Corp lifted its position in shares of Watsco by 5.9% during the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company’s stock valued at $577,350,000 after acquiring an additional 65,846 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company’s stock worth $345,783,000 after acquiring an additional 63,254 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Price Performance

Shares of NYSE WSO opened at $485.21 on Friday. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The stock has a market capitalization of $19.59 billion, a P/E ratio of 37.50 and a beta of 0.95. The company has a 50-day moving average price of $485.44 and a 200-day moving average price of $490.99.

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 issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio is currently 83.46%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Northcoast Research initiated coverage on Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $488.33.

Insiders Place Their Bets

In related 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 transaction of $5,589,293.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.