Citigroup Trims Stake in Watsco Construction Firm

Institutional investor sold over 65,000 shares of HVAC equipment distributor

Mar. 3, 2026 at 1:31am

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Citigroup Inc. reduced its stake in Watsco, Inc. (NYSE:WSO), a major distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, by 69% in the third quarter, according to a recent SEC filing. The institutional investor now owns 29,538 shares of the construction company's stock, down from 95,346 shares previously.

Why it matters

Watsco is a key player in the HVAC/R industry, serving residential and commercial contractors across the U.S., Canada and Puerto Rico. Institutional investors closely monitor the company's performance, and changes in their holdings can signal broader market trends or shifts in investor sentiment.

The details

Citigroup sold 65,808 shares of Watsco stock during the third quarter, reducing its position by 69%. The bank now owns 29,538 shares, or 0.07% of the company's outstanding stock, worth approximately $11.9 million at the end of the quarter.

  • Citigroup filed the SEC disclosure in the 3rd quarter of 2026.

The players

Citigroup Inc.

A major American multinational investment bank and financial services corporation.

Watsco, Inc.

The largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States.

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The takeaway

Citigroup's reduced stake in Watsco could signal broader caution among institutional investors about the HVAC/R industry or the construction sector more broadly. However, Watsco remains a dominant player in its market, and changes in institutional holdings do not necessarily reflect the company's underlying fundamentals or long-term prospects.