Arizona State Retirement System lessened its holdings in shares of Watsco Inc (NYSE:WSO) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,385 shares of the construction company’s stock after selling 280 shares during the period. Arizona State Retirement System’s holdings in Watsco were worth $1,312,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in WSO. Signaturefd LLC raised its holdings in shares of Watsco by 283.7% during the first quarter. Signaturefd LLC now owns 188 shares of the construction company’s stock valued at $30,000 after buying an additional 139 shares during the last quarter. Rockefeller Capital Management L.P. acquired a new position in shares of Watsco during the first quarter valued at approximately $42,000. FinTrust Capital Advisors LLC acquired a new position in shares of Watsco during the first quarter valued at approximately $51,000. Tower Research Capital LLC TRC acquired a new position in shares of Watsco during the first quarter valued at approximately $61,000. Finally, Pinz Capital Management LP acquired a new position in shares of Watsco during the first quarter valued at approximately $63,000. 80.24% of the stock is currently owned by institutional investors.
In related news, Director George Sape sold 9,667 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $235.25, for a total value of $2,274,161.75. Following the completion of the transaction, the director now owns 7,471 shares of the company’s stock, valued at approximately $1,757,552.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.15% of the company’s stock.
Watsco stock opened at $242.80 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.22 and a current ratio of 2.55. The firm has a market cap of $9.31 billion, a price-to-earnings ratio of 39.80 and a beta of 0.80. Watsco Inc has a 1 year low of $132.97 and a 1 year high of $244.57. The firm’s 50 day moving average price is $209.94 and its two-hundred day moving average price is $176.51.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Thursday, July 23rd. The construction company reported $2.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.88 by $0.38. The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Watsco had a net margin of 4.77% and a return on equity of 13.38%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.40 earnings per share. As a group, equities analysts predict that Watsco Inc will post 6.27 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 16th were given a $1.775 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $7.10 annualized dividend and a yield of 2.92%. Watsco’s dividend payout ratio (DPR) is 109.23%.
A number of research firms recently commented on WSO. Robert W. Baird lowered their price objective on shares of Watsco from $170.00 to $168.00 and set a “neutral” rating on the stock in a research note on Friday, April 24th. Morgan Stanley raised their price objective on shares of Watsco from $146.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. raised their price objective on shares of Watsco from $127.00 to $130.00 and gave the company an “underweight” rating in a research note on Tuesday, June 23rd. Seaport Global Securities reiterated a “neutral” rating on shares of Watsco in a research note on Monday, July 27th. Finally, Vertical Research lowered shares of Watsco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 12th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Watsco currently has an average rating of “Hold” and a consensus target price of $183.83.
Watsco Profile
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.
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