California State Teachers Retirement System Has $22.52 Million Stock Holdings in Watsco, Inc. (NYSE:WSO)

California State Teachers Retirement System increased its position in Watsco, Inc. (NYSE:WSOFree Report) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 52,548 shares of the construction company’s stock after purchasing an additional 712 shares during the quarter. California State Teachers Retirement System owned approximately 0.13% of Watsco worth $22,515,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of WSO. Assenagon Asset Management S.A. bought a new position in shares of Watsco during the 3rd quarter worth approximately $219,000. Great Lakes Advisors LLC acquired a new position in shares of Watsco in the third quarter valued at $310,000. Banque Cantonale Vaudoise bought a new position in shares of Watsco in the third quarter valued at about $209,000. Janney Montgomery Scott LLC lifted its stake in shares of Watsco by 1.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 23,554 shares of the construction company’s stock worth $8,897,000 after buying an additional 449 shares during the last quarter. Finally, Burney Co. lifted its stake in shares of Watsco by 1.9% during the 3rd quarter. Burney Co. now owns 3,347 shares of the construction company’s stock worth $1,264,000 after buying an additional 61 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on WSO. Stephens reissued an “overweight” rating and issued a $500.00 price target on shares of Watsco in a report on Thursday, April 25th. Robert W. Baird boosted their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $404.25.

Check Out Our Latest Research Report on Watsco

Watsco Price Performance

Shares of NYSE WSO opened at $462.49 on Thursday. The business has a fifty day moving average price of $451.02 and a two-hundred day moving average price of $419.97. The stock has a market capitalization of $18.64 billion, a PE ratio of 35.58 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31. Watsco, Inc. has a fifty-two week low of $333.88 and a fifty-two week high of $491.90.

Watsco (NYSE:WSOGet Free Report) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm earned $2.83 EPS. As a group, equities analysts predict that Watsco, Inc. will post 14.26 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a dividend of $2.70 per share. This is a positive change from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date was Friday, April 12th. This represents a $10.80 annualized dividend and a dividend yield of 2.34%. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Insider Activity at Watsco

In other Watsco news, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Barry S. Logan sold 774 shares of Watsco stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the sale, the executive vice president now directly owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The disclosure for this sale can be found here. 12.86% of the stock is currently owned by insiders.

About Watsco

(Free Report)

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.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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