New York State Common Retirement Fund Reduces Stock Position in Watsco, Inc. (NYSE:WSO)

New York State Common Retirement Fund trimmed its holdings in Watsco, Inc. (NYSE:WSO) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,248 shares of the construction company’s stock after selling 2,100 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of Watsco worth $15,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of WSO. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco in the fourth quarter worth about $36,000. Ashton Thomas Securities LLC purchased a new stake in Watsco in the 3rd quarter worth approximately $43,000. Quarry LP boosted its holdings in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares during the period. Brooklyn Investment Group bought a new position in Watsco in the 3rd quarter valued at $48,000. Finally, Golden State Wealth Management LLC purchased a new position in shares of Watsco during the 4th quarter valued at $50,000. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Performance

NYSE WSO opened at $498.12 on Monday. Watsco, Inc. has a 52-week low of $380.58 and a 52-week high of $571.41. The company has a fifty day moving average of $484.75 and a 200-day moving average of $492.56. The company has a market capitalization of $20.12 billion, a P/E ratio of 37.59 and a beta of 0.95.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. As a group, analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is currently 81.51%.

Analysts Set New Price Targets

WSO has been the topic of a number of recent analyst reports. Robert W. Baird increased their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Raymond James initiated coverage on Watsco in a report on Friday, January 17th. They issued a “market perform” rating on the stock. Finally, Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They set a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $495.00.

Insiders Place Their Bets

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

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.