New York State Common Retirement Fund Has $8.97 Million Position in Watsco, Inc. (NYSE:WSO)

New York State Common Retirement Fund cut its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 46.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,648 shares of the construction company's stock after selling 15,600 shares during the period. New York State Common Retirement Fund's holdings in Watsco were worth $8,970,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Watsco by 89,376.0% during the first quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company's stock worth $242,867,000 after acquiring an additional 477,268 shares in the last quarter. Norges Bank acquired a new position in shares of Watsco during the fourth quarter valued at about $118,312,000. Lord Abbett & CO. LLC acquired a new stake in shares of Watsco in the 4th quarter valued at about $104,533,000. Balyasny Asset Management L.P. grew its stake in shares of Watsco by 542.2% in the 4th quarter. Balyasny Asset Management L.P. now owns 110,752 shares of the construction company's stock valued at $52,484,000 after buying an additional 93,506 shares during the period. Finally, Northern Trust Corp increased its position in Watsco by 25.5% in the 4th quarter. Northern Trust Corp now owns 333,348 shares of the construction company's stock valued at $157,970,000 after buying an additional 67,649 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Stock Performance

Shares of Watsco stock opened at $471.16 on Friday. The stock has a market capitalization of $19.09 billion, a P/E ratio of 36.22 and a beta of 1.04. Watsco, Inc. has a 52-week low of $418.31 and a 52-week high of $571.42. The stock's 50-day simple moving average is $453.21 and its 200 day simple moving average is $476.79.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). Watsco had a net margin of 6.98% and a return on equity of 17.13%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the previous year, the firm posted $2.17 earnings per share. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts forecast that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th will be issued a $3.00 dividend. The ex-dividend date of this dividend is Wednesday, July 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.55%. Watsco's payout ratio is currently 92.24%.

Analyst Upgrades and Downgrades

A number of analysts have commented on WSO shares. Mizuho set a $490.00 price target on shares of Watsco in a research note on Thursday, April 24th. Morgan Stanley set a $505.00 target price on shares of Watsco in a research report on Wednesday, July 2nd. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. Robert W. Baird decreased their price objective on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price objective on Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 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 MarketBeat.com, Watsco has a consensus rating of "Hold" and a consensus price target of $484.17.

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.

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