State Board of Administration of Florida Retirement System Sells 2,382 Shares of Watsco (WSO)

State Board of Administration of Florida Retirement System trimmed its stake in Watsco (NYSE:WSO) by 5.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,020 shares of the construction company’s stock after selling 2,382 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.10% of Watsco worth $6,880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Watsco by 4.1% during the fourth quarter. BlackRock Inc. now owns 2,682,903 shares of the construction company’s stock valued at $456,201,000 after buying an additional 105,677 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Watsco by 0.5% during the fourth quarter. Wells Fargo & Company MN now owns 768,615 shares of the construction company’s stock valued at $130,696,000 after buying an additional 3,569 shares in the last quarter. Thomaspartners Inc. grew its holdings in shares of Watsco by 0.7% during the first quarter. Thomaspartners Inc. now owns 629,774 shares of the construction company’s stock valued at $113,970,000 after buying an additional 4,600 shares in the last quarter. DF Dent & Co. Inc. grew its holdings in shares of Watsco by 12.6% during the fourth quarter. DF Dent & Co. Inc. now owns 484,258 shares of the construction company’s stock valued at $82,343,000 after buying an additional 54,133 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in shares of Watsco by 1.3% during the fourth quarter. OppenheimerFunds Inc. now owns 463,255 shares of the construction company’s stock valued at $78,772,000 after buying an additional 5,878 shares in the last quarter. Institutional investors and hedge funds own 81.69% of the company’s stock.

A number of brokerages have recently weighed in on WSO. Zacks Investment Research upgraded Watsco from a “sell” rating to a “hold” rating in a report on Monday. Stephens set a $185.00 price target on Watsco and gave the company a “hold” rating in a report on Tuesday, April 24th. Stifel Nicolaus lifted their price target on Watsco from $191.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 25th. Robert W. Baird lifted their price target on Watsco from $176.00 to $185.00 and gave the company an “outperform” rating in a report on Wednesday, April 25th. Finally, Susquehanna Bancshares set a $195.00 price target on Watsco and gave the company a “buy” rating in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $184.14.

WSO opened at $182.99 on Wednesday. The firm has a market cap of $6.84 billion, a P/E ratio of 33.39 and a beta of 0.84. Watsco has a 1 year low of $139.26 and a 1 year high of $192.94. The company has a quick ratio of 1.49, a current ratio of 3.63 and a debt-to-equity ratio of 0.06.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, April 24th. The construction company reported $0.89 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.89. The firm had revenue of $926.58 million during the quarter, compared to analysts’ expectations of $911.45 million. Watsco had a return on equity of 14.44% and a net margin of 4.92%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. analysts predict that Watsco will post 6.77 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 30th. Investors of record on Monday, April 16th were given a dividend of $1.45 per share. This is a boost from Watsco’s previous quarterly dividend of $1.25. The ex-dividend date was Friday, April 13th. This represents a $5.80 dividend on an annualized basis and a yield of 3.17%. Watsco’s dividend payout ratio (DPR) is presently 105.84%.

About Watsco

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.

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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