JPMorgan Chase & Co. Acquires 13,409 Shares of Watsco, Inc. (NYSE:WSO)

JPMorgan Chase & Co. lifted its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 2.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 477,470 shares of the construction company's stock after acquiring an additional 13,409 shares during the period. JPMorgan Chase & Co. owned approximately 1.18% of Watsco worth $226,268,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Watsco by 8.8% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 24,908 shares of the construction company's stock worth $11,850,000 after acquiring an additional 2,007 shares during the period. Korea Investment CORP grew its holdings in shares of Watsco by 198.7% during the 4th quarter. Korea Investment CORP now owns 21,611 shares of the construction company's stock worth $10,241,000 after purchasing an additional 14,377 shares in the last quarter. TrueMark Investments LLC increased its position in shares of Watsco by 206.4% in the fourth quarter. TrueMark Investments LLC now owns 5,231 shares of the construction company's stock worth $2,479,000 after purchasing an additional 3,524 shares during the period. UNIVEST FINANCIAL Corp raised its stake in Watsco by 0.5% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 4,928 shares of the construction company's stock valued at $2,335,000 after purchasing an additional 26 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in Watsco by 1.2% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,949 shares of the construction company's stock worth $924,000 after purchasing an additional 23 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Trading Down 3.0 %

NYSE WSO traded down $14.74 during trading on Friday, hitting $477.78. 399,342 shares of the company's stock were exchanged, compared to its average volume of 253,380. The stock's 50 day moving average price is $496.34 and its two-hundred day moving average price is $499.34. Watsco, Inc. has a fifty-two week low of $396.82 and a fifty-two week high of $571.42. The company has a market cap of $19.30 billion, a PE ratio of 36.06 and a beta of 1.00.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to analysts' expectations of $1.67 billion. Analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th will be issued a dividend of $3.00 per share. This is an increase from Watsco's previous quarterly dividend of $2.70. The ex-dividend date is Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.51%. Watsco's dividend payout ratio (DPR) is 81.51%.

Analyst Ratings Changes

Several research firms have commented on WSO. Raymond James began coverage on shares of Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. Loop Capital increased their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research report on Thursday, February 27th. Finally, Robert W. Baird lifted their price objective on shares of Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Watsco has a consensus rating of "Hold" and a consensus price target of $486.25.

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.