Watsco, Inc. (NYSE:WSO) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC boosted its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 122,862 shares of the construction company's stock after purchasing an additional 10,173 shares during the quarter. Jennison Associates LLC owned approximately 0.30% of Watsco worth $60,433,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in WSO. J. W. Coons Advisors LLC grew its position in Watsco by 0.7% in the third 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 lifted its position in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company's stock worth $46,000 after purchasing an additional 22 shares in the last quarter. CWM LLC boosted its stake 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 period. MCF Advisors LLC grew its holdings in Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock valued at $57,000 after purchasing an additional 25 shares in the last quarter. Finally, Equitable Trust Co. increased its stake in Watsco by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company's stock worth $574,000 after buying an additional 25 shares during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Performance

Shares of Watsco stock opened at $534.19 on Thursday. The firm's 50-day simple moving average is $496.90 and its 200-day simple moving average is $484.03. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $545.49. The firm has a market cap of $21.57 billion, a PE ratio of 41.22 and a beta of 0.88.

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

Watsco Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on WSO shares. JPMorgan Chase & Co. upped their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Robert W. Baird reduced their price target on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, October 24th.

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.