Watsco, Inc. (NYSE:WSO) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama increased its holdings in Watsco, Inc. (NYSE:WSO) by 0.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 54,538 shares of the construction company’s stock after acquiring an additional 40 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of Watsco worth $27,722,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Watsco by 81.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,178 shares of the construction company’s stock worth $558,000 after acquiring an additional 527 shares in the last quarter. Principal Securities Inc. lifted its stake in shares of Watsco by 6.9% in the fourth quarter. Principal Securities Inc. now owns 373 shares of the construction company’s stock worth $177,000 after acquiring an additional 24 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Watsco by 4.8% in the first quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company’s stock worth $523,000 after acquiring an additional 47 shares in the last quarter. Atria Wealth Solutions Inc. raised its stake in Watsco by 14.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 1,607 shares of the construction company’s stock valued at $762,000 after buying an additional 197 shares in the last quarter. Finally, Certior Financial Group LLC acquired a new stake in Watsco during the fourth quarter valued at approximately $442,000. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Down 0.4%

Shares of Watsco stock opened at $421.68 on Friday. The business’s 50 day simple moving average is $462.13 and its 200-day simple moving average is $482.97. The stock has a market capitalization of $17.08 billion, a price-to-earnings ratio of 32.41 and a beta of 1.06. Watsco, Inc. has a twelve month low of $419.91 and a twelve month high of $571.42.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.36). The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Watsco had a return on equity of 17.13% and a net margin of 6.98%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 earnings per share. Sell-side analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.85%. This is a boost from Watsco’s previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. Watsco’s dividend payout ratio is presently 92.24%.

Analysts Set New Price Targets

Several analysts have issued reports on WSO shares. Morgan Stanley started coverage on Watsco in a research note on Monday, April 14th. They set an “equal weight” rating and a $515.00 price objective on the stock. UBS Group cut their price objective on Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a research note on Thursday, April 24th. Mizuho set a $490.00 price objective on Watsco in a research note on Thursday, April 24th. Robert W. Baird cut their price objective on Watsco from $560.00 to $540.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Finally, Loop Capital upped their price objective on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Watsco currently has a consensus rating of “Hold” and a consensus target price of $486.67.

Watsco 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.