Buckhead Capital Management LLC Sells 240 Shares of Watsco, Inc. (NYSE:WSO)

Buckhead Capital Management LLC decreased its position in Watsco, Inc. (NYSE:WSO) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,050 shares of the construction company’s stock after selling 240 shares during the period. Watsco accounts for 1.7% of Buckhead Capital Management LLC’s portfolio, making the stock its 21st largest position. Buckhead Capital Management LLC’s holdings in Watsco were worth $5,236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after purchasing an additional 346,470 shares during the period. International Assets Investment Management LLC raised its stake in shares of Watsco by 48,984.7% during the third 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 last quarter. Benjamin Edwards Inc. lifted its holdings in Watsco by 2,128.1% in the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after buying an additional 102,640 shares during the period. State Street Corp boosted its stake in Watsco by 5.9% in the third 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 last quarter. Finally, Geode Capital Management LLC grew its holdings in Watsco by 9.9% during the 3rd 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 during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Robert W. Baird reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Northcoast Research initiated coverage on Watsco in a research note 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $488.33.

Insider Activity

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were 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 SEC, which is available through the SEC website. 12.86% of the stock is currently owned by company insiders.

Watsco Trading Up 1.0 %

Shares of Watsco stock opened at $475.62 on Friday. The stock’s fifty day simple moving average is $486.28 and its 200 day simple moving average is $491.11. The company has a market capitalization of $19.21 billion, a PE ratio of 36.76 and a beta of 0.95. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders 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 dividend yield of 2.27%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is currently 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.