Louisiana State Employees Retirement System Purchases 100 Shares of Watsco, Inc. (NYSE:WSO)

Louisiana State Employees Retirement System raised its position in Watsco, Inc. (NYSE:WSO) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,700 shares of the construction company’s stock after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Watsco were worth $4,597,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Wingate Wealth Advisors Inc. acquired a new position in shares of Watsco in the 4th quarter valued at $36,000. Ashton Thomas Securities LLC bought a new position in Watsco during the third quarter worth about $43,000. Quarry LP grew 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 during the period. Brooklyn Investment Group bought a new stake in shares of Watsco in the third quarter worth about $48,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Watsco during the fourth quarter worth about $50,000. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

Shares of Watsco stock opened at $470.84 on Thursday. The firm has a market cap of $19.01 billion, a PE ratio of 36.39 and a beta of 0.95. The business’s 50 day simple moving average is $487.24 and its 200 day simple moving average is $491.22. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41.

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 $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.29%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Analyst Upgrades and Downgrades

WSO has been the subject of several research analyst reports. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird dropped their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Watsco currently has a consensus rating of “Hold” and a consensus target price of $488.33.

Insider Transactions at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a filing with the SEC, which is available at this link. 12.86% of the stock is currently owned by insiders.

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.