JPMorgan Chase & Co. Boosts Stock Position in Watsco, Inc. (NYSE:WSO)

JPMorgan Chase & Co. raised its position in Watsco, Inc. (NYSE:WSO - Free Report) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 464,061 shares of the construction company's stock after acquiring an additional 41,845 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.15% of Watsco worth $228,263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC raised its stake in shares of Watsco by 10.6% in the third quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock valued at $1,782,651,000 after acquiring an additional 346,470 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Watsco by 48,984.7% during the 3rd quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company's stock worth $114,924,000 after purchasing an additional 233,167 shares during the period. Benjamin Edwards Inc. raised its position in Watsco by 2,128.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company's stock valued at $52,880,000 after purchasing an additional 102,640 shares in the last quarter. State Street Corp boosted its stake in shares of Watsco by 5.9% in the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after buying an additional 65,846 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Watsco by 9.9% during the third quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock worth $345,783,000 after buying an additional 63,254 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Price Performance

Shares of NYSE WSO traded down $0.90 during midday trading on Tuesday, hitting $473.89. 134,089 shares of the company's stock were exchanged, compared to its average volume of 273,921. The firm's fifty day simple moving average is $511.77 and its 200-day simple moving average is $492.63. The company has a market cap of $19.14 billion, a PE ratio of 36.62 and a beta of 0.92. Watsco, Inc. has a twelve month low of $373.33 and a twelve month high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $4.35 EPS. Equities analysts anticipate that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WSO shares. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. Robert W. Baird reduced their price objective on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.86% of the stock is currently owned by insiders.

Watsco Company Profile

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.