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

Jennison Associates LLC lessened its holdings in Watsco, Inc. (NYSE:WSO) by 36.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 78,340 shares of the construction company’s stock after selling 44,522 shares during the period. Jennison Associates LLC owned about 0.19% of Watsco worth $37,125,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quarry LP purchased a new position in Watsco in the second quarter valued at about $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco in the third quarter valued at about $43,000. Brooklyn Investment Group purchased a new stake in shares of Watsco during the 3rd quarter valued at about $48,000. MCF Advisors LLC lifted its position in Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Watsco in the 4th quarter worth approximately $90,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of Watsco 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 12.86% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WSO. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Robert W. Baird dropped their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $488.33.

Watsco Trading Down 0.6 %

Watsco stock opened at $474.55 on Wednesday. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The stock has a market cap of $19.16 billion, a P/E ratio of 36.67 and a beta of 0.95. The stock has a 50 day moving average of $496.47 and a 200-day moving average of $492.30.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.28%. Watsco’s dividend payout ratio (DPR) is 83.46%.

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.