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

TimesSquare Capital Management LLC decreased its holdings in shares of Watsco, Inc. (NYSE:WSO) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,917 shares of the construction company’s stock after selling 2,938 shares during the period. TimesSquare Capital Management LLC’s holdings in Watsco were worth $29,076,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WSO. TD Waterhouse Canada Inc. increased its stake in shares of Watsco by 242.9% during the second 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 during the period. SJS Investment Consulting Inc. boosted its holdings 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 acquiring an additional 71 shares in the last quarter. Chilton Capital Management LLC bought a new stake in Watsco in the second quarter valued at $34,000. TruNorth Capital Management LLC purchased a new position in Watsco during the 3rd quarter valued at $37,000. Finally, Capital A Wealth Management LLC raised its holdings in Watsco by 4,700.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 96 shares of the construction company’s stock worth $41,000 after purchasing an additional 94 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of research reports. KeyCorp reaffirmed a “sector weight” rating on shares of Watsco in a research note on Friday, December 12th. Mizuho lowered their price objective on shares of Watsco from $400.00 to $370.00 and set a “neutral” rating for the company in a report on Monday, January 5th. UBS Group began coverage on Watsco in a research report on Monday, January 5th. They issued a “neutral” rating and a $370.00 target price for the company. Morgan Stanley lowered their target price on Watsco from $460.00 to $370.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research note on Thursday, October 30th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Watsco currently has a consensus rating of “Hold” and a consensus target price of $404.14.

Watsco Stock Performance

Shares of NYSE WSO opened at $419.33 on Friday. The company has a 50 day simple moving average of $371.41 and a two-hundred day simple moving average of $379.18. Watsco, Inc. has a fifty-two week low of $323.05 and a fifty-two week high of $535.40. The company has a market capitalization of $17.01 billion, a price-to-earnings ratio of 32.76 and a beta of 1.04.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, January 16th. Watsco’s payout ratio is currently 93.75%.

About Watsco

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.