Noteworthy SEC Filing: Jpmorgan Chase & Co Just Disclosed New Watsco Inc Position

Noteworthy SEC Filing: Jpmorgan Chase & Co Just Disclosed New Watsco Inc Position

The New Jpmorgan Chase & Co Holding in Watsco Inc

Jpmorgan Chase & Co filed with the SEC SC 13G/A form for Watsco Inc. The form can be accessed here: 000001961716001202. As reported in Jpmorgan Chase & Co’s form, the filler as of late owns 3.2% or 998,103 shares of the Industrials–company.

Watsco Inc stake is a new one for the for this institutional investor and it was filed because of activity on October 31, 2016. We feel this shows Jpmorgan Chase & Co’s positive view for the stock.

Watsco Inc Institutional Sentiment

Latest Security and Exchange filings show 220 investors own Watsco Inc. The institutional ownership in Q3 2015 is very high, at 70.36% of the outstanding shares. This is decreased by 2057853 the total institutional shares. 21354316 were the shares owned by these institutional investors. In total 35 funds opened new Watsco Inc stakes, 76 increased stakes. There were 22 that closed positions and 81 reduced them.

3 managers had the stock in their top Ten. Notable investors are: Oak Ridge Investments Llc..

Howland Capital Management Llc is an institutional investor bullish on Watsco Inc, owning 145746 shares as of Q3 2015 for 1.88% of its portfolio. Arbor Capital Management Llc owns 50232 shares or 1.32% of its portfolio. NC Kdi Capital Partners Llc have 7.79% of their stock portfolio for 226197 shares. Further, Oak Ridge Investments Llc reported stake worth 2.37% of its US stock portfolio. The CT Scoria Capital Partners Lp owns 182012 shares. Watsco Inc is 5.35% of the manager’s US portfolio.

Business Profile

Watsco, Inc. (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico. The Company sells a line of products and maintains a mix of inventory to meet its customers’ needs. The Company distributes a range of products, such as equipment, including residential ducted and ductless air conditioners, gas, electric and oil furnaces, commercial air conditioning and heating equipment and systems and other specialized equipment; parts, including replacement compressors, evaporator coils, motors and other component parts, and supplies, including thermostats, insulation material, refrigerants, ductwork, grills, registers, sheet metal, tools, copper tubing, concrete pads, tape, adhesives and other ancillary supplies.

SEC Form 13G is required when the filer owns between (5% and 20%) of a company and plans to hold it only as a passive investor. In case the filler intend to exert control and the stake’s exceeds 20%, then 13D Form must be filed. These filings can NOT be a precursor to “change of control” events such as hostile takeovers, company breakups or others.

Insitutional Activity: The institutional sentiment increased to 1.29 in Q2 2016. Its up 0.08, from 1.21 in 2016Q1. The ratio increased, as 16 funds sold all Watsco Inc shares owned while 84 reduced positions. 31 funds bought stakes while 98 increased positions. They now own 22.99 million shares or 0.34% less from 23.06 million shares in 2016Q1.

The Illinois-based Dearborn Ltd Llc has invested 0.04% in Watsco Inc (NYSE:WSO). Bb&T Limited Co has 0.04% invested in the company for 16,700 shares. Canada Pension Plan Investment Board holds 0.01% or 18,702 shares in its portfolio. The Georgia-based Invesco Limited has invested 0.03% in Watsco Inc (NYSE:WSO). Deutsche Savings Bank Ag has 0% invested in the company for 19,178 shares. Citadel Advsrs Llc holds 10,641 shares or 0% of its portfolio. Blackrock Japan Limited owns 15,446 shares or 0.01% of their US portfolio. Susquehanna Interest Grp Ltd Liability Partnership accumulated 6,600 shares or 0% of the stock. The Connecticut-based Webster Bank & Trust N A has invested 0.03% in Watsco Inc (NYSE:WSO). Checchi Capital Advisers Limited Co holds 129 shares or 0% of its portfolio. Moreover, Nomura has 0% invested in Watsco Inc (NYSE:WSO) for 1,923 shares. Redmond Asset Mgmt Limited Liability Company accumulated 13,011 shares or 0.91% of the stock. Voya Inv Ltd Llc has 39,734 shares for 0.01% of their US portfolio. Commonwealth Of Pennsylvania Public School Empls Retrmt Systems owns 4,964 shares or 0.01% of their US portfolio. Henderson Group Inc Pcl owns 67,217 shares or 0.08% of their US portfolio.

About 3,284 shares traded hands. Watsco Inc (NYSE:WSO) has risen 2.03% since April 5, 2016 and is uptrending. It has outperformed by 0.08% the S&P500.

Watsco, Inc. is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The company has a market cap of $4.79 billion. The Firm operates in the HVAC/R distribution industry in North America. It has a 26.82 P/E ratio. The Firm operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.

Watsco Inc (NYSE:WSO) Ratings Coverage

Out of 8 analysts covering Watsco (NYSE:WSO), 6 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 75% are positive. $150 is the highest target while $103 is the lowest. The $133.83 average target is -1.52% below today’s ($135.9) stock price. Watsco has been the topic of 17 analyst reports since September 11, 2015 according to StockzIntelligence Inc. The stock has “Positive” rating given by Susquehanna on Wednesday, June 1. Stifel Nicolaus maintained it with “Buy” rating and $140 target price in Thursday, March 24 report. The rating was maintained by Robert W. Baird with “Outperform” on Thursday, April 21. Stephens maintained the shares of WSO in a report on Wednesday, October 28 with “Overweight” rating. The firm has “Accumulate” rating by Seaport Global given on Thursday, April 21. Longbow upgraded Watsco Inc (NYSE:WSO) on Friday, October 14 to “Buy” rating. The firm has “Neutral” rating by Stifel Nicolaus given on Monday, April 25. SunTrust initiated the shares of WSO in a report on Monday, June 6 with “Buy” rating. The stock of Watsco Inc (NYSE:WSO) earned “Underweight” rating by Barclays Capital on Monday, October 5. The stock of Watsco Inc (NYSE:WSO) earned “Underweight” rating by Barclays Capital on Monday, April 18.

Another recent and important Watsco Inc (NYSE:WSO) news was published by Nasdaq.com which published an article titled: “Watsco, Inc. (WSO) Ex-Dividend Date Scheduled for October 13, 2016” on October 12, 2016.

According to Zacks Investment Research, “Watsco, Inc. is one of the largest distributor of air conditioning and heating equipment and related parts and supplies in the United States. The company also sells products used in the refrigeration industry. Such products include condensing units, compressors, evaporators, valves, walk-in coolers and ice machines for industrial and commercial applications. The company distributes products manufactured by Copeland Compressor Corporation, Tecumseh Products Company, The Manitowoc Company, Inc. and Scotsman Industries, Inc.”

WSO Company Profile

Watsco, Inc. (Watsco), incorporated on July 14, 1956, is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Firm operates in the HVAC/R distribution industry in North America. The Firm operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico. The Firm has market coverage on an export basis to Latin America and the Caribbean, through which it serves over 88,000 active contractors and dealers that service the replacement and new construction markets.

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