Arizona State Retirement System lifted its holdings in shares of Watsco Inc (NYSE:WSO) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,759 shares of the construction company’s stock after buying an additional 512 shares during the quarter. Arizona State Retirement System owned about 0.06% of Watsco worth $4,053,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in WSO. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Watsco during the 2nd quarter valued at approximately $111,258,000. United Services Automobile Association lifted its stake in shares of Watsco by 5,047.4% during the 2nd quarter. United Services Automobile Association now owns 253,819 shares of the construction company’s stock valued at $15,176,000 after buying an additional 248,888 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Watsco by 2.7% during the 2nd quarter. BlackRock Inc. now owns 3,727,767 shares of the construction company’s stock valued at $664,588,000 after buying an additional 99,687 shares in the last quarter. First Quadrant L P CA lifted its stake in shares of Watsco by 97,616.9% during the 2nd quarter. First Quadrant L P CA now owns 69,379 shares of the construction company’s stock valued at $12,369,000 after buying an additional 69,308 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Watsco by 40.6% during the 2nd quarter. First Trust Advisors LP now owns 204,475 shares of the construction company’s stock valued at $36,454,000 after buying an additional 59,096 shares in the last quarter. Institutional investors own 83.04% of the company’s stock.
NYSE WSO opened at $146.82 on Friday. Watsco Inc has a 1 year low of $138.61 and a 1 year high of $192.94. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.36 and a current ratio of 2.95. The company has a market capitalization of $5.48 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 1.82 and a beta of 0.91.
Watsco (NYSE:WSO) last posted its earnings results on Thursday, October 25th. The construction company reported $2.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.26 by ($0.15). Watsco had a return on equity of 14.00% and a net margin of 5.15%. The firm had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company earned $1.82 earnings per share. As a group, research analysts forecast that Watsco Inc will post 6.46 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Monday, October 15th were paid a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Friday, October 12th. Watsco’s dividend payout ratio is presently 105.84%.
WSO has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Watsco from a “hold” rating to a “sell” rating in a research note on Monday, July 16th. ValuEngine upgraded shares of Watsco from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. Seaport Global Securities cut shares of Watsco from a “buy” rating to a “neutral” rating in a research note on Thursday, July 26th. Longbow Research cut shares of Watsco from a “buy” rating to a “neutral” rating in a research note on Monday, July 30th. Finally, JPMorgan Chase & Co. cut shares of Watsco from a “neutral” rating to an “underweight” rating and upped their price target for the company from $166.00 to $176.00 in a research note on Friday, September 21st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Watsco presently has a consensus rating of “Hold” and an average target price of $182.38.
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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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