Watsco, Inc. (NYSE:WSO) Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its holdings in shares of Watsco, Inc. (NYSE:WSO) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 477,470 shares of the construction company’s stock after buying an additional 13,409 shares during the period. JPMorgan Chase & Co. owned 1.18% of Watsco worth $226,268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Toronto Dominion Bank grew its position in Watsco by 32.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock valued at $2,094,000 after buying an additional 1,038 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Watsco by 5.6% in the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after acquiring an additional 2,738 shares in the last quarter. Benjamin Edwards Inc. increased its stake in shares of Watsco by 2,128.1% during the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock valued at $52,880,000 after acquiring an additional 102,640 shares during the period. Janney Montgomery Scott LLC bought a new stake in Watsco during the fourth quarter worth approximately $10,446,000. Finally, AEGON ASSET MANAGEMENT UK Plc raised its holdings in Watsco by 15.1% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 139,157 shares of the construction company’s stock worth $65,966,000 after purchasing an additional 18,279 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

WSO has been the topic of several research analyst reports. Loop Capital lifted their price target on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird raised their price objective on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $486.25.

Watsco Stock Up 1.5 %

Shares of NYSE WSO opened at $509.53 on Tuesday. Watsco, Inc. has a 12 month low of $396.82 and a 12 month high of $571.42. The company has a market cap of $20.59 billion, a price-to-earnings ratio of 38.45 and a beta of 0.92. The business has a fifty day simple moving average of $496.37 and a 200-day simple moving average of $499.01.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. As a group, sell-side analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 81.51%.

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.