Jennison Associates LLC Purchases 10,173 Shares of Watsco, Inc. (NYSE:WSO)

Jennison Associates LLC grew its position in Watsco, Inc. (NYSE:WSO) by 9.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,862 shares of the construction company’s stock after purchasing an additional 10,173 shares during the period. Jennison Associates LLC’s holdings in Watsco were worth $60,433,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. J. W. Coons Advisors LLC lifted its stake in Watsco by 0.7% in the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock valued at $1,475,000 after acquiring an additional 20 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its holdings in shares of Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after purchasing an additional 22 shares during the last quarter. CWM LLC raised its holdings in shares of Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company’s stock valued at $468,000 after purchasing an additional 24 shares during the last quarter. MCF Advisors LLC lifted its position in shares of Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after purchasing an additional 25 shares in the last quarter. Finally, Equitable Trust Co. boosted its holdings in Watsco by 2.2% during the third quarter. Equitable Trust Co. now owns 1,166 shares of the construction company’s stock worth $574,000 after purchasing an additional 25 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WSO has been the topic of several recent research reports. Robert W. Baird lowered their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

Watsco Trading Up 0.0 %

NYSE WSO opened at $533.40 on Thursday. The firm has a market capitalization of $21.54 billion, a P/E ratio of 41.22 and a beta of 0.88. The firm’s fifty day moving average price is $496.90 and its two-hundred day moving average price is $484.03. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $545.49.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $4.35 earnings per share. On average, research analysts anticipate that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a dividend of $2.70 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.02%. Watsco’s dividend payout ratio is currently 83.46%.

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.