Watsco, Inc. (NYSE:WSO) Stock Holdings Lessened by Howland Capital Management LLC

Key Points

• Howland Capital Management LLC reduced its stake in Watsco, Inc. by 3.4% in the first quarter, owning 114,824 shares valued at approximately $58.37 million.
• Watsco's recent earnings report showed a miss in EPS with $4.52, compared to the consensus estimate of $4.84, and a revenue decline of 3.6% year-over-year.
• The company declared a quarterly dividend of $3.00, resulting in a 2.7% dividend yield and a payout ratio of 92.24%.

Howland Capital Management LLC lessened its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,824 shares of the construction company's stock after selling 4,069 shares during the period. Watsco accounts for about 2.6% of Howland Capital Management LLC's investment portfolio, making the stock its 7th biggest holding. Howland Capital Management LLC owned approximately 0.28% of Watsco worth $58,365,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Watsco by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company's stock valued at $343,168,000 after acquiring an additional 20,856 shares during the period. GAMMA Investing LLC lifted its position in shares of Watsco by 89,376.0% during the first quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company's stock worth $242,867,000 after purchasing an additional 477,268 shares in the last quarter. Northern Trust Corp raised its stake in shares of Watsco by 25.5% during the fourth quarter. Northern Trust Corp now owns 333,348 shares of the construction company's stock worth $157,970,000 after buying an additional 67,649 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Watsco by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 268,284 shares of the construction company's stock worth $136,369,000 after buying an additional 8,180 shares during the last quarter. Finally, Royal Bank of Canada increased its stake in Watsco by 1.5% in the fourth quarter. Royal Bank of Canada now owns 228,115 shares of the construction company's stock valued at $108,102,000 after purchasing an additional 3,301 shares in the last quarter. Institutional investors own 89.71% of the company's stock.

Analyst Ratings Changes

WSO has been the subject of several recent analyst reports. Morgan Stanley set a $505.00 target price on shares of Watsco in a research note on Wednesday, July 2nd. Robert W. Baird cut their price target on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. UBS Group cut their target price on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Finally, Mizuho set a $490.00 price objective on shares of Watsco in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $484.17.

Watsco Trading Down 3.7%

WSO traded down $16.46 during trading on Friday, reaching $434.42. 375,572 shares of the company's stock were exchanged, compared to its average volume of 335,972. The stock has a market capitalization of $17.60 billion, a PE ratio of 33.31 and a beta of 0.95. Watsco, Inc. has a one year low of $418.31 and a one year high of $571.41. The firm has a fifty day moving average price of $452.11 and a two-hundred day moving average price of $476.59.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. The firm's revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.49 EPS. Sell-side analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were given a dividend of $3.00 per share. The ex-dividend date was Wednesday, July 16th. This represents a $12.00 annualized dividend and a yield of 2.8%. Watsco's dividend payout ratio is presently 92.02%.

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.