New York State Teachers Retirement System Has $18 Million Holdings in Watsco, Inc. (NYSE:WSO)

New York State Teachers Retirement System lessened its holdings in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,411 shares of the construction company's stock after selling 1,700 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of Watsco worth $17,999,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC grew its holdings in Watsco by 109.4% during the first quarter. Golden State Wealth Management LLC now owns 222 shares of the construction company's stock valued at $113,000 after purchasing an additional 116 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Watsco by 133.1% during the first quarter. SG Americas Securities LLC now owns 844 shares of the construction company's stock valued at $429,000 after purchasing an additional 482 shares in the last quarter. Fifth Third Bancorp grew its position in Watsco by 4.8% in the first quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company's stock valued at $523,000 after acquiring an additional 47 shares during the period. State of Alaska Department of Revenue grew its holdings in shares of Watsco by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 4,077 shares of the construction company's stock worth $2,072,000 after purchasing an additional 105 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its holdings in shares of Watsco by 81.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,178 shares of the construction company's stock worth $558,000 after buying an additional 527 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WSO has been the subject of a number of research analyst reports. UBS Group cut their price target on Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a report on Wednesday, June 25th. Mizuho set a $490.00 target price on shares of Watsco in a research note on Thursday, April 24th. JPMorgan Chase & Co. upped their target price on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Morgan Stanley set a $505.00 price target on shares of Watsco in a report on Wednesday. Finally, Wall Street Zen raised Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $484.17.

Watsco Trading Up 0.2%

Shares of WSO traded up $0.77 on Thursday, reaching $457.32. 114,251 shares of the company's stock were exchanged, compared to its average volume of 259,144. The business has a 50 day moving average price of $452.57 and a two-hundred day moving average price of $478.46. Watsco, Inc. has a 12 month low of $418.31 and a 12 month high of $571.42. The stock has a market capitalization of $18.53 billion, a P/E ratio of 35.15 and a beta of 1.04.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results 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 6.98% and a return on equity of 17.13%. The business 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 EPS. The business's revenue was down 2.2% on a year-over-year basis. Equities research analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.62%. Watsco's dividend payout ratio (DPR) is 92.24%.

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.