TimesSquare Capital Management LLC Sells 2,938 Shares of Watsco, Inc. $WSO

TimesSquare Capital Management LLC lowered its holdings in Watsco, Inc. (NYSE:WSO) by 3.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,917 shares of the construction company’s stock after selling 2,938 shares during the period. TimesSquare Capital Management LLC owned approximately 0.18% of Watsco worth $29,076,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of WSO. SJS Investment Consulting Inc. raised its stake in Watsco by 2,366.7% in the third quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock valued at $30,000 after purchasing an additional 71 shares in the last quarter. TD Waterhouse Canada Inc. increased its holdings in shares of Watsco by 242.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock worth $33,000 after buying an additional 51 shares during the last quarter. Chilton Capital Management LLC purchased a new stake in shares of Watsco during the 2nd quarter valued at $34,000. TruNorth Capital Management LLC bought a new stake in shares of Watsco during the 3rd quarter worth $37,000. Finally, Capital A Wealth Management LLC grew its position in Watsco by 4,700.0% in the second quarter. Capital A Wealth Management LLC now owns 96 shares of the construction company’s stock worth $41,000 after acquiring an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WSO shares. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a research report on Thursday, October 30th. KeyCorp reiterated a “sector weight” rating on shares of Watsco in a research report on Friday, December 12th. Zacks Research downgraded Watsco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Mizuho reduced their price target on shares of Watsco from $400.00 to $370.00 and set a “neutral” rating on the stock in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Watsco from $360.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $404.14.

Watsco Price Performance

Shares of WSO stock opened at $419.33 on Friday. The business has a 50-day moving average of $371.41 and a 200 day moving average of $379.18. Watsco, Inc. has a 1-year low of $323.05 and a 1-year high of $535.40. The stock has a market capitalization of $17.01 billion, a PE ratio of 32.76 and a beta of 1.04.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, January 16th. Watsco’s dividend payout ratio is currently 93.75%.

Watsco 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.