Watsco, Inc. (NYSE:WSO) Shares Sold by Howland Capital Management LLC

Howland Capital Management LLC lowered its position in shares of Watsco, Inc. (NYSE:WSO) by 1.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 118,893 shares of the construction company’s stock after selling 1,362 shares during the period. Watsco makes up about 2.5% of Howland Capital Management LLC’s portfolio, making the stock its 9th largest position. Howland Capital Management LLC’s holdings in Watsco were worth $56,342,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank lifted its holdings in shares of Watsco by 32.2% during the third quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after buying an additional 1,038 shares in the last quarter. Citizens Financial Group Inc. RI increased its position in shares of Watsco by 40.6% in the third quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock worth $1,582,000 after purchasing an additional 929 shares during the period. Larson Financial Group LLC increased its position in shares of Watsco by 3,571.0% in the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock worth $560,000 after purchasing an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Watsco by 1.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after purchasing an additional 1,074 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Watsco by 5.6% in the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock worth $25,645,000 after purchasing an additional 2,738 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WSO. Robert W. Baird decreased their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Raymond James began coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $488.33.

Watsco Stock Down 1.8 %

Watsco stock opened at $464.98 on Friday. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $571.41. The business’s 50-day moving average price is $491.50 and its two-hundred day moving average price is $491.72. The stock has a market cap of $18.78 billion, a PE ratio of 35.93 and a beta of 0.95.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s dividend payout ratio is presently 83.46%.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.86% of the company’s stock.

About Watsco

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.