Howland Capital Management LLC Decreases Stake in Watsco, Inc. $WSO

Howland Capital Management LLC decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 8.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 83,861 shares of the construction company’s stock after selling 7,251 shares during the quarter. Watsco comprises 1.1% of Howland Capital Management LLC’s holdings, making the stock its 28th largest holding. Howland Capital Management LLC’s holdings in Watsco were worth $28,257,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WSO. Torren Management LLC purchased a new stake in shares of Watsco in the 4th quarter valued at approximately $26,000. Laurel Wealth Advisors LLC acquired a new position in Watsco during the 4th quarter worth approximately $37,000. Commonwealth Retirement Investments LLC acquired a new position in Watsco during the 4th quarter worth approximately $44,000. Clearstead Advisors LLC grew its holdings in Watsco by 45.0% during the 4th quarter. Clearstead Advisors LLC now owns 174 shares of the construction company’s stock worth $59,000 after acquiring an additional 54 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Watsco during the 4th quarter worth approximately $59,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Down 1.1%

NYSE:WSO opened at $380.03 on Friday. The firm has a 50-day moving average price of $401.03 and a two-hundred day moving average price of $383.93. Watsco, Inc. has a twelve month low of $323.05 and a twelve month high of $494.94. The company has a market capitalization of $15.45 billion, a P/E ratio of 31.54 and a beta of 1.04.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, April 28th. The construction company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.49 billion. Watsco had a net margin of 6.85% and a return on equity of 15.31%. The company’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.93 earnings per share. On average, equities research analysts predict that Watsco, Inc. will post 12.64 earnings per share for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 16th were issued a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.5%. This is a boost from Watsco’s previous quarterly dividend of $3.00. The ex-dividend date was Thursday, April 16th. Watsco’s payout ratio is presently 109.54%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WSO shares. JPMorgan Chase & Co. upped their target price on shares of Watsco from $370.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, February 19th. Zacks Research upgraded shares of Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 25th. Mizuho set a $425.00 price target on shares of Watsco in a research note on Wednesday, February 18th. Stephens raised their target price on shares of Watsco from $475.00 to $485.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. One investment analyst has rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, Watsco currently has an average rating of “Hold” and a consensus target price of $399.83.

About Watsco

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.