Davidson Kahn Capital Management LLC Grows Stock Position in Watsco, Inc. $WSO

Davidson Kahn Capital Management LLC boosted its stake in shares of Watsco, Inc. (NYSE:WSO) by 90.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,018 shares of the construction company’s stock after acquiring an additional 1,431 shares during the quarter. Davidson Kahn Capital Management LLC’s holdings in Watsco were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Trust Co. of Vermont lifted its position in Watsco by 10.2% in the second quarter. Trust Co. of Vermont now owns 238 shares of the construction company’s stock valued at $105,000 after purchasing an additional 22 shares during the last quarter. Hilltop National Bank grew its holdings in shares of Watsco by 7.1% in the third quarter. Hilltop National Bank now owns 454 shares of the construction company’s stock worth $184,000 after purchasing an additional 30 shares during the last quarter. KBC Group NV raised its holdings in Watsco by 0.7% during the 2nd quarter. KBC Group NV now owns 4,700 shares of the construction company’s stock valued at $2,076,000 after buying an additional 32 shares during the last quarter. Apollon Wealth Management LLC raised its holdings in Watsco by 6.0% during the 3rd quarter. Apollon Wealth Management LLC now owns 601 shares of the construction company’s stock valued at $243,000 after buying an additional 34 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in Watsco by 2.2% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 1,638 shares of the construction company’s stock valued at $723,000 after buying an additional 35 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Performance

Watsco stock opened at $384.14 on Friday. The stock’s 50 day simple moving average is $352.95 and its two-hundred day simple moving average is $387.35. The stock has a market cap of $15.58 billion, a price-to-earnings ratio of 30.01 and a beta of 1.03. Watsco, Inc. has a fifty-two week low of $323.05 and a fifty-two week high of $535.40.

Watsco (NYSE:WSO) last announced its earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share (EPS) for the quarter. The firm 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 disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Friday, January 16th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $12.00 annualized dividend and a yield of 3.1%. Watsco’s dividend payout ratio (DPR) is currently 93.75%.

Analyst Ratings Changes

A number of research firms have issued reports on WSO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research note on Thursday, October 30th. Wolfe Research set a $349.00 target price on Watsco in a research note on Tuesday, December 9th. Mizuho lowered their price target on Watsco from $400.00 to $370.00 and set a “neutral” rating for the company in a research report on Monday, January 5th. JPMorgan Chase & Co. lifted their price objective on Watsco from $360.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Finally, Morgan Stanley reduced their target price on Watsco from $460.00 to $370.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Watsco has a consensus rating of “Hold” and an average target price of $404.14.

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.