California Public Employees Retirement System Has $27.16 Million Holdings in Watsco, Inc. (NYSE:WSO)

California Public Employees Retirement System lessened its stake in Watsco, Inc. (NYSE:WSO) by 3.1% in the 4th quarter, HoldingsChannel reports. The fund owned 63,380 shares of the construction company’s stock after selling 1,997 shares during the quarter. California Public Employees Retirement System’s holdings in Watsco were worth $27,156,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Benchmark Financial Wealth Advisors LLC acquired a new stake in shares of Watsco during the 4th quarter worth approximately $536,000. Louisiana State Employees Retirement System acquired a new stake in shares of Watsco during the 4th quarter worth approximately $4,070,000. Wellington Management Group LLP grew its position in shares of Watsco by 2.6% during the 3rd quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock worth $245,013,000 after buying an additional 16,589 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Watsco during the 4th quarter worth approximately $2,516,000. Finally, Hamlin Capital Management LLC grew its position in shares of Watsco by 5.7% during the 4th quarter. Hamlin Capital Management LLC now owns 295,833 shares of the construction company’s stock worth $126,756,000 after buying an additional 16,006 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Stock Down 0.2 %

Watsco stock opened at $443.21 on Friday. The company’s 50 day simple moving average is $412.36 and its 200 day simple moving average is $399.77. Watsco, Inc. has a fifty-two week low of $315.17 and a fifty-two week high of $451.29. The firm has a market capitalization of $17.51 billion, a price-to-earnings ratio of 34.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.47.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $2.83 EPS. The firm’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Watsco, Inc. will post 14.25 EPS for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a $2.70 dividend. The ex-dividend date of this dividend is Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a yield of 2.44%. This is a positive change from Watsco’s previous quarterly dividend of $2.45. Watsco’s payout ratio is presently 83.08%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WSO. Stephens reiterated an “overweight” rating and set a $500.00 price target on shares of Watsco in a research report on Thursday. Robert W. Baird lifted their price target on shares of Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday. One 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 stock. Based on data from MarketBeat.com, Watsco has a consensus rating of “Hold” and a consensus price target of $404.25.

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.