Oregon Public Employees Retirement Fund Trims Stake in Watsco, Inc. (NYSE:WSO)

Oregon Public Employees Retirement Fund lessened its stake in shares of Watsco, Inc. (NYSE:WSO) by 0.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,075 shares of the construction company’s stock after selling 46 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Watsco were worth $3,353,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank boosted its position in shares of Watsco by 32.2% during the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after purchasing an additional 1,038 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Watsco by 40.6% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock valued at $1,582,000 after buying an additional 929 shares during the period. Larson Financial Group LLC lifted its stake in Watsco by 3,571.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock worth $560,000 after acquiring an additional 1,107 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its stake in Watsco by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after acquiring an additional 1,074 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Watsco by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after acquiring an additional 2,738 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

NYSE:WSO opened at $499.55 on Friday. Watsco, Inc. has a 12 month low of $387.58 and a 12 month high of $571.41. The firm has a market capitalization of $20.17 billion, a PE ratio of 37.70 and a beta of 0.95. The business’s fifty day moving average price is $484.84 and its 200 day moving average price is $493.04.

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

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Analyst Ratings Changes

WSO has been the topic of several research reports. Loop Capital increased their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday. Raymond James initiated coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird upped their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $486.25.

Insider Activity at Watsco

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

Watsco Company 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.