California Public Employees Retirement System trimmed its stake in shares of Watsco, Inc. (NYSE:WSO – Get Rating) by 2.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,403 shares of the construction company’s stock after selling 1,584 shares during the quarter. California Public Employees Retirement System owned 0.19% of Watsco worth $22,653,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Baillie Gifford & Co. grew its stake in Watsco by 2.1% during the 4th quarter. Baillie Gifford & Co. now owns 2,086,034 shares of the construction company’s stock worth $652,677,000 after purchasing an additional 43,878 shares in the last quarter. Markel Corp grew its stake in Watsco by 1.1% during the 4th quarter. Markel Corp now owns 418,750 shares of the construction company’s stock worth $131,018,000 after purchasing an additional 4,500 shares in the last quarter. Welch & Forbes LLC grew its stake in Watsco by 2.5% during the 4th quarter. Welch & Forbes LLC now owns 205,742 shares of the construction company’s stock worth $64,374,000 after purchasing an additional 5,104 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Watsco by 0.9% during the 3rd quarter. Goldman Sachs Group Inc. now owns 205,610 shares of the construction company’s stock worth $54,408,000 after buying an additional 1,859 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Watsco by 8.9% during the 3rd quarter. Macquarie Group Ltd. now owns 189,334 shares of the construction company’s stock worth $50,102,000 after buying an additional 15,402 shares during the last quarter. 78.13% of the stock is owned by hedge funds and other institutional investors.
Watsco stock opened at $258.13 on Friday. Watsco, Inc. has a fifty-two week low of $245.26 and a fifty-two week high of $318.98. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.11 and a current ratio of 2.77. The company has a market capitalization of $10.03 billion, a P/E ratio of 21.07 and a beta of 0.88. The stock has a 50-day simple moving average of $287.07 and a 200-day simple moving average of $289.98.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Thursday, April 14th were paid a dividend of $2.20 per share. The ex-dividend date was Wednesday, April 13th. This is an increase from Watsco’s previous quarterly dividend of $1.95. This represents a $8.80 annualized dividend and a yield of 3.41%. Watsco’s dividend payout ratio is currently 71.84%.
A number of analysts have issued reports on the company. StockNews.com downgraded Watsco from a “buy” rating to a “hold” rating in a report on Saturday, April 30th. Morgan Stanley decreased their price target on Watsco from $288.00 to $277.00 and set an “equal weight” rating for the company in a report on Friday, April 22nd. Robert W. Baird lifted their price target on Watsco from $300.00 to $350.00 in a report on Friday, April 22nd. KeyCorp raised Watsco from a “sector weight” rating to an “overweight” rating and set a $320.00 price target for the company in a report on Monday, February 14th. Finally, Zacks Investment Research downgraded Watsco from a “hold” rating to a “sell” rating and set a $313.00 price target for the company. in a report on Monday, January 17th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Watsco presently has an average rating of “Hold” and an average price target of $316.29.
In other Watsco news, Director Brian E. Keeley sold 11,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $299.68, for a total transaction of $3,296,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 13.31% of the stock is owned by corporate insiders.
Watsco Company Profile (Get Rating)
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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