Watsco, Inc. (NYSE:WSO) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System reduced its position in Watsco, Inc. (NYSE:WSO - Free Report) by 5.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,597 shares of the construction company's stock after selling 2,947 shares during the period. California State Teachers Retirement System owned 0.13% of Watsco worth $24,451,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of WSO. JPMorgan Chase & Co. boosted its holdings in shares of Watsco by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company's stock valued at $228,263,000 after buying an additional 41,845 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Watsco by 28.1% in the 4th quarter. Blue Trust Inc. now owns 675 shares of the construction company's stock valued at $332,000 after buying an additional 148 shares in the last quarter. KBC Group NV boosted its holdings in shares of Watsco by 6.5% in the 4th quarter. KBC Group NV now owns 6,245 shares of the construction company's stock valued at $2,959,000 after buying an additional 380 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Watsco in the 4th quarter valued at about $1,737,000. Finally, R Squared Ltd bought a new stake in shares of Watsco in the 4th quarter valued at about $90,000. 89.71% of the stock is currently owned by institutional investors.

Watsco Trading Down 2.0%

NYSE WSO traded down $8.98 on Monday, hitting $434.59. 159,374 shares of the company's stock traded hands, compared to its average volume of 257,196. Watsco, Inc. has a 1-year low of $430.25 and a 1-year high of $571.42. The firm's 50-day moving average price is $480.08 and its two-hundred day moving average price is $493.47. The firm has a market capitalization of $17.61 billion, a PE ratio of 32.73 and a beta of 1.11.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm posted $2.17 earnings per share. The business's revenue was down 2.2% on a year-over-year basis. On average, research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a yield of 2.76%. This is a boost from Watsco's previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. Watsco's payout ratio is presently 92.24%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WSO. Mizuho set a $490.00 price target on shares of Watsco in a report on Thursday, April 24th. Morgan Stanley assumed coverage on shares of Watsco in a research note on Monday, April 14th. They issued an "equal weight" rating and a $515.00 target price for the company. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Loop Capital lifted their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Finally, UBS Group lowered their target price on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Watsco currently has a consensus rating of "Hold" and a consensus price target of $486.67.

About Watsco

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.