State of Alaska Department of Revenue raised its holdings in Watsco, Inc. (NYSE:WSO – Get Rating) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,764 shares of the construction company's stock after buying an additional 115 shares during the period. State of Alaska Department of Revenue's holdings in Watsco were worth $1,137,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC boosted its position in Watsco by 2.3% in the 4th quarter. Segall Bryant & Hamill LLC now owns 1,887 shares of the construction company's stock valued at $590,000 after buying an additional 42 shares during the period. State of Michigan Retirement System boosted its stake in shares of Watsco by 0.5% during the first quarter. State of Michigan Retirement System now owns 8,383 shares of the construction company's stock worth $2,554,000 after buying an additional 42 shares during the period. Cetera Investment Advisers grew its stake in shares of Watsco by 2.9% in the 1st quarter. Cetera Investment Advisers now owns 1,870 shares of the construction company's stock valued at $570,000 after purchasing an additional 52 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Watsco by 0.6% during the first quarter. Arizona State Retirement System now owns 8,927 shares of the construction company's stock worth $2,720,000 after purchasing an additional 53 shares during the last quarter. Finally, Commerce Bank raised its stake in shares of Watsco by 7.4% during the fourth quarter. Commerce Bank now owns 942 shares of the construction company's stock worth $295,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 82.38% of the company's stock.
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Watsco Stock Performance
Shares of WSO opened at $257.02 on Wednesday. Watsco, Inc. has a 1 year low of $220.68 and a 1 year high of $318.98. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 19.08 and a beta of 0.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.08 and a current ratio of 2.47. The firm has a fifty day moving average of $276.91 and a 200-day moving average of $270.49.
Watsco (NYSE:WSO – Get Rating) last released its earnings results on Tuesday, July 26th. The construction company reported $4.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.02 by ($0.09). The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.15 billion. Watsco had a return on equity of 25.27% and a net
margin of 7.56%. Watsco's revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.71 earnings per share. As a group, equities analysts anticipate that Watsco, Inc. will post 14.5 earnings per share for the current year.
Watsco Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were paid a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a yield of 3.42%. The ex-dividend date was Thursday, July 14th. Watsco's dividend payout ratio (DPR) is currently 65.33%.
Wall Street Analyst Weigh In
WSO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft began coverage on Watsco in a report on Wednesday, August 17th. They set a "hold" rating and a $311.00 price objective on the stock. Robert W. Baird raised Watsco from a "neutral" rating to an "outperform" rating and cut their price target for the stock from $350.00 to $313.00 in a report on Thursday, July 14th. KeyCorp lifted their price objective on Watsco from $300.00 to $310.00 and gave the company an "overweight" rating in a research report on Tuesday, September 6th. Morgan Stanley lifted their price objective on Watsco from $204.00 to $217.00 and gave the company an "underweight" rating in a research report on Thursday, September 1st. Finally, Stephens reduced their target price on Watsco to $350.00 and set an "outperform" rating on the stock in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $300.20.
Watsco Company Profile
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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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