New York State Teachers Retirement System Has $18.40 Million Position in Watsco, Inc. (NYSE:WSO)

New York State Teachers Retirement System lessened its holdings in Watsco, Inc. (NYSE:WSO) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,411 shares of the construction company’s stock after selling 200 shares during the period. New York State Teachers Retirement System owned about 0.09% of Watsco worth $18,402,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of WSO. Jennison Associates LLC increased its holdings in shares of Watsco by 50.9% in the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock valued at $80,188,000 after purchasing an additional 62,593 shares during the period. Diversify Advisory Services LLC purchased a new stake in Watsco in the 1st quarter worth approximately $822,000. EverSource Wealth Advisors LLC boosted its stake in shares of Watsco by 256.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company’s stock valued at $1,510,000 after buying an additional 2,427 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Watsco during the 1st quarter valued at $491,000. Finally, Nordea Investment Management AB grew its holdings in shares of Watsco by 22.3% during the 1st quarter. Nordea Investment Management AB now owns 135,621 shares of the construction company’s stock valued at $59,020,000 after acquiring an additional 24,696 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Up 0.2 %

Shares of NYSE:WSO opened at $474.05 on Friday. The company has a current ratio of 3.36, a quick ratio of 1.65 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $19.12 billion, a PE ratio of 36.63 and a beta of 0.88. Watsco, Inc. has a 1 year low of $359.59 and a 1 year high of $520.41. The firm has a fifty day moving average price of $481.62 and a 200 day moving average price of $475.41.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company posted $4.35 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. Analysts expect that Watsco, Inc. will post 13.43 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 annualized dividend and a yield of 2.28%. Watsco’s dividend payout ratio (DPR) is presently 83.46%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WSO shares. Robert W. Baird cut their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

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.