New York State Common Retirement Fund Trims Stake in Watsco, Inc. (NYSE:WSO)

New York State Common Retirement Fund lessened its position in Watsco, Inc. (NYSE:WSO) by 5.9% in the fourth quarter, HoldingsChannel reports. The firm owned 33,248 shares of the construction company’s stock after selling 2,100 shares during the quarter. New York State Common Retirement Fund’s holdings in Watsco were worth $15,756,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WSO. Wingate Wealth Advisors Inc. bought a new stake in shares of Watsco in the 4th quarter worth approximately $36,000. Ashton Thomas Securities LLC purchased a new position in Watsco during the third quarter valued at $43,000. Quarry LP boosted its holdings in Watsco by 57.9% in the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after acquiring an additional 33 shares in the last quarter. Brooklyn Investment Group bought a new stake in Watsco in the third quarter worth $48,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Watsco in the fourth quarter worth $50,000. 89.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Watsco stock opened at $498.12 on Monday. Watsco, Inc. has a one year low of $380.58 and a one year high of $571.41. The stock has a fifty day moving average of $484.75 and a 200 day moving average of $492.56. The stock has a market cap of $20.12 billion, a PE ratio of 37.59 and a beta of 0.95.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. As a group, sell-side analysts predict that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on WSO shares. Robert W. Baird lifted their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Northcoast Research assumed coverage on shares of Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Watsco has an average rating of “Hold” and a consensus price target of $495.00.

Watsco Profile

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.