Howland Capital Management LLC Acquires 10,164 Shares of Watsco Inc (NYSE:WSO)

Howland Capital Management LLC increased its holdings in shares of Watsco Inc (NYSE:WSO) by 7.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,750 shares of the construction company’s stock after acquiring an additional 10,164 shares during the quarter. Watsco comprises about 2.0% of Howland Capital Management LLC’s investment portfolio, making the stock its 12th largest holding. Howland Capital Management LLC owned approximately 0.40% of Watsco worth $27,518,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. DAVENPORT & Co LLC increased its holdings in Watsco by 3.0% in the 4th quarter. DAVENPORT & Co LLC now owns 755,747 shares of the construction company’s stock valued at $136,148,000 after buying an additional 21,692 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Watsco by 1.2% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 695,045 shares of the construction company’s stock valued at $113,661,000 after buying an additional 7,965 shares during the period. Markel Corp increased its holdings in Watsco by 5.8% in the 3rd quarter. Markel Corp now owns 376,500 shares of the construction company’s stock valued at $63,696,000 after buying an additional 20,500 shares during the period. First Trust Advisors LP increased its holdings in Watsco by 14.0% in the 3rd quarter. First Trust Advisors LP now owns 305,648 shares of the construction company’s stock valued at $51,710,000 after buying an additional 37,585 shares during the period. Finally, Bank of America Corp DE increased its holdings in Watsco by 0.9% in the 2nd quarter. Bank of America Corp DE now owns 208,851 shares of the construction company’s stock valued at $34,154,000 after buying an additional 1,875 shares during the period. 78.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of WSO traded up $1.59 during mid-day trading on Thursday, reaching $178.73. The company had a trading volume of 4,368 shares, compared to its average volume of 141,648. The company’s 50 day simple moving average is $178.63 and its 200 day simple moving average is $170.09. Watsco Inc has a 1-year low of $136.45 and a 1-year high of $183.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.33 and a current ratio of 3.12. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 27.40 and a beta of 0.82.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Thursday, January 16th will be given a dividend of $1.60 per share. The ex-dividend date is Wednesday, January 15th. This represents a $6.40 annualized dividend and a yield of 3.58%. Watsco’s dividend payout ratio is presently 98.61%.

Several research firms have commented on WSO. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $186.00 target price on the stock in a report on Wednesday. Robert W. Baird raised their price target on shares of Watsco from $160.00 to $175.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley raised their price target on shares of Watsco from $145.00 to $158.00 and gave the company an “equal weight” rating in a research note on Monday, October 21st. Buckingham Research reduced their price target on shares of Watsco from $165.00 to $164.00 and set a “neutral” rating on the stock in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price target on shares of Watsco from $132.00 to $138.00 and gave the company an “underweight” rating in a research note on Thursday, October 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Watsco currently has a consensus rating of “Hold” and an average price target of $164.20.

About Watsco

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

See Also: Cost of Goods Sold (COGS)

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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