Watsco, Inc. $WSO Position Lessened by Howland Capital Management LLC

Howland Capital Management LLC lowered its position in Watsco, Inc. (NYSE:WSO) by 17.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,112 shares of the construction company’s stock after selling 19,317 shares during the quarter. Watsco makes up approximately 1.4% of Howland Capital Management LLC’s holdings, making the stock its 20th biggest position. Howland Capital Management LLC owned about 0.22% of Watsco worth $36,837,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Empowered Funds LLC grew its stake in shares of Watsco by 4.1% in the 1st quarter. Empowered Funds LLC now owns 5,927 shares of the construction company’s stock valued at $3,013,000 after buying an additional 232 shares in the last quarter. Swedbank AB lifted its stake in Watsco by 3.8% in the second quarter. Swedbank AB now owns 78,585 shares of the construction company’s stock valued at $34,705,000 after acquiring an additional 2,854 shares during the last quarter. Mn Services Vermogensbeheer B.V. grew its position in Watsco by 5.7% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 13,000 shares of the construction company’s stock worth $5,741,000 after acquiring an additional 700 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Watsco by 1.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 15,993 shares of the construction company’s stock worth $7,314,000 after purchasing an additional 218 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its stake in shares of Watsco by 4.7% during the 2nd quarter. IFM Investors Pty Ltd now owns 6,999 shares of the construction company’s stock worth $3,091,000 after purchasing an additional 311 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WSO. Weiss Ratings reiterated a “hold (c)” rating on shares of Watsco in a report on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on Watsco from $360.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday. Zacks Research downgraded Watsco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 13th. UBS Group initiated coverage on Watsco in a research report on Monday, January 5th. They set a “neutral” rating and a $370.00 target price for the company. Finally, KeyCorp reiterated a “sector weight” rating on shares of Watsco in a report on Friday, December 12th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Watsco currently has an average rating of “Hold” and a consensus target price of $404.14.

Watsco Trading Up 0.4%

NYSE WSO opened at $381.78 on Friday. Watsco, Inc. has a 1-year low of $323.05 and a 1-year high of $535.40. The company has a market capitalization of $15.48 billion, a price-to-earnings ratio of 29.83 and a beta of 1.03. The stock’s 50 day moving average is $349.42 and its two-hundred day moving average is $389.44.

Watsco (NYSE:WSO) last posted its earnings results on Friday, November 7th. The construction company reported $3.98 EPS for the quarter. The business had revenue of $2.07 billion during the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%. On average, analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be paid a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, January 16th. Watsco’s payout ratio is currently 93.75%.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.