Watsco, Inc. (WSO) Position Raised by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System boosted its position in Watsco, Inc. (NYSE:WSO) by 1.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,068 shares of the construction company’s stock after purchasing an additional 630 shares during the period. State Board of Administration of Florida Retirement System owned about 0.12% of Watsco worth $6,293,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Winslow Evans & Crocker Inc. lifted its position in Watsco by 300.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock valued at $123,000 after purchasing an additional 600 shares during the period. San Francisco Sentry Investment Group CA acquired a new stake in Watsco in the second quarter valued at about $125,000. Public Employees Retirement Association of Colorado lifted its position in Watsco by 15.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock valued at $147,000 after purchasing an additional 129 shares during the period. Creative Planning lifted its position in Watsco by 6.1% in the second quarter. Creative Planning now owns 1,039 shares of the construction company’s stock valued at $160,000 after purchasing an additional 60 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new stake in Watsco in the second quarter valued at about $206,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Shares of Watsco, Inc. (NYSE WSO) opened at $164.38 on Tuesday. Watsco, Inc. has a 12-month low of $134.08 and a 12-month high of $167.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.42 and a current ratio of 3.13. The stock has a market cap of $5,899.05, a P/E ratio of 30.74 and a beta of 0.83.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.95 by ($0.13). Watsco had a net margin of 4.46% and a return on equity of 15.00%. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the business posted $1.78 earnings per share. Watsco’s revenue was down .9% on a year-over-year basis. sell-side analysts anticipate that Watsco, Inc. will post 5.59 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, October 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.04%. Watsco’s payout ratio is 92.42%.

A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $169.00 price objective for the company in a research report on Tuesday, August 1st. Morgan Stanley raised their price objective on shares of Watsco from $141.00 to $151.00 and gave the company an “underweight” rating in a research report on Monday, September 25th. Stifel Nicolaus restated a “buy” rating and issued a $154.00 price objective on shares of Watsco in a research report on Thursday, September 7th. BidaskClub downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Robert W. Baird restated a “buy” rating and issued a $163.00 price objective on shares of Watsco in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $160.40.

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Watsco Company Profile

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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