Sat Sep 28 17:27:34 UTC 2024: ## Axa S.A. Increases Stake in Watsco, Inc.
**New York, NY – September 28, 2024** – Axa S.A. has increased its stake in Watsco, Inc. (NYSE:WSO) by 33.6% during the second quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The fund now owns 34,894 shares of the construction company, valued at $16,164,000.
This move by Axa S.A. comes amidst a period of growing investor interest in Watsco. Other institutional investors and hedge funds have also adjusted their holdings in the company, including:
* Jennison Associates LLC increasing its stake by 50.9% during the first quarter.
* Goldman Sachs Group Inc. increasing its stake by 12.4% during the fourth quarter.
* American National Bank increasing its position by 878.1% during the first quarter.
* First Trust Advisors LP increasing its position by 2.0% during the fourth quarter.
* Diversify Advisory Services LLC acquiring a new stake in the first quarter.
These moves reflect the overall confidence in Watsco’s future performance. Institutional investors and hedge funds now own 89.71% of the company’s stock.
Watsco, Inc., along with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment, and related parts and supplies in the United States and internationally. The company has a market cap of $19.99 billion and a P/E ratio of 38.15.
Watsco recently declared a quarterly dividend of $2.70 per share, representing a $10.80 annualized dividend and a yield of 2.18%.
Analysts are also bullish on Watsco, with JPMorgan Chase & Co. and Robert W. Baird both increasing their target prices on the stock. Overall, analysts have assigned an average rating of “Moderate Buy” and a consensus price target of $469.80.
**This news highlights the continued strong performance and investor confidence in Watsco, Inc., a leading distributor of HVAC and refrigeration equipment.**
First Piper 