Davidson Kahn Capital Management LLC Acquires 1,431 Shares of Watsco, Inc. $WSO

Davidson Kahn Capital Management LLC boosted its holdings in Watsco, Inc. (NYSE:WSO) by 90.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,018 shares of the construction company’s stock after buying an additional 1,431 shares during the period. Davidson Kahn Capital Management LLC’s holdings in Watsco were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ameritas Advisory Services LLC bought a new position in shares of Watsco in the second quarter worth $26,000. SJS Investment Consulting Inc. lifted its holdings in Watsco by 2,366.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock worth $30,000 after purchasing an additional 71 shares in the last quarter. TD Waterhouse Canada Inc. grew its holdings in Watsco by 242.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock valued at $33,000 after buying an additional 51 shares in the last quarter. Chilton Capital Management LLC bought a new stake in shares of Watsco during the second quarter valued at about $34,000. Finally, TruNorth Capital Management LLC purchased a new stake in shares of Watsco in the third quarter worth about $37,000. Institutional investors own 89.71% of the company’s stock.

Watsco Trading Down 1.0%

WSO opened at $384.14 on Friday. The stock has a market capitalization of $15.58 billion, a P/E ratio of 30.01 and a beta of 1.03. The stock has a 50-day moving average price of $352.95 and a 200-day moving average price of $387.35. Watsco, Inc. has a 12-month low of $323.05 and a 12-month high of $535.40.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Friday, November 7th. The construction company reported $3.98 earnings per share for the quarter. The company had revenue of $2.07 billion for the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%. On average, equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 16th will be issued a dividend of $3.00 per share. The ex-dividend date of this dividend is Friday, January 16th. This represents a $12.00 annualized dividend and a dividend yield of 3.1%. Watsco’s dividend payout ratio (DPR) is currently 93.75%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WSO. William Blair reaffirmed a “market perform” rating on shares of Watsco in a research note on Wednesday, October 15th. KeyCorp restated a “sector weight” rating on shares of Watsco in a research report on Friday, December 12th. Morgan Stanley decreased their price target on shares of Watsco from $460.00 to $370.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 14th. Wolfe Research set a $349.00 price objective on Watsco in a research note on Tuesday, December 9th. Finally, JPMorgan Chase & Co. lifted their price target on Watsco from $360.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, January 16th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $404.14.

Watsco Company 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.