Geode Capital Management LLC Grows Stock Holdings in Watsco, Inc. (NYSE:WSO)

Geode Capital Management LLC increased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 9.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 704,330 shares of the construction company's stock after purchasing an additional 63,254 shares during the period. Geode Capital Management LLC owned approximately 1.74% of Watsco worth $345,783,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its holdings in shares of Watsco by 10.6% in the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock worth $1,782,651,000 after purchasing an additional 346,470 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Watsco by 48,984.7% during the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company's stock valued at $114,924,000 after buying an additional 233,167 shares during the last quarter. Benjamin Edwards Inc. increased its holdings in Watsco by 2,128.1% in the 3rd quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company's stock worth $52,880,000 after buying an additional 102,640 shares in the last quarter. State Street Corp raised its position in Watsco by 5.9% in the 3rd quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock worth $577,350,000 after buying an additional 65,846 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Watsco by 5.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock valued at $616,357,000 after acquiring an additional 62,041 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Northcoast Research assumed coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a "neutral" rating for the company. Robert W. Baird decreased their target price on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th.

Watsco Stock Performance

Shares of NYSE WSO traded down $1.74 during midday trading on Friday, hitting $509.72. 142,166 shares of the company's stock traded hands, compared to its average volume of 175,763. The firm has a fifty day moving average of $512.83 and a 200 day moving average of $490.89. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The stock has a market capitalization of $20.58 billion, a price-to-earnings ratio of 39.39 and a beta of 0.92.

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

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were given 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 yield of 2.12%. Watsco's dividend payout ratio (DPR) is presently 83.46%.

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.