Watsco, Inc. (NYSE:WSO) Stock Position Decreased by Jennison Associates LLC

Jennison Associates LLC lowered its holdings in Watsco, Inc. (NYSE:WSO) by 36.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 78,340 shares of the construction company’s stock after selling 44,522 shares during the period. Jennison Associates LLC’s holdings in Watsco were worth $37,125,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quarry LP acquired a new stake in shares of Watsco during the 2nd quarter worth approximately $26,000. Ashton Thomas Securities LLC bought a new position in Watsco during the 3rd quarter worth $43,000. Brooklyn Investment Group acquired a new stake in Watsco in the third quarter worth $48,000. MCF Advisors LLC lifted its stake in Watsco by 27.8% in the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after buying an additional 25 shares during the last quarter. Finally, R Squared Ltd acquired a new position in shares of Watsco during the fourth quarter valued at $90,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 12.86% of the company’s stock.

Watsco Stock Down 0.6 %

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

Watsco Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.