Teacher Retirement System of Texas Purchases New Stake in Watsco, Inc. (NYSE:WSO)

Teacher Retirement System of Texas acquired a new stake in Watsco, Inc. (NYSE:WSO - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,092 shares of the construction company's stock, valued at approximately $2,588,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. First Horizon Advisors Inc. increased its stake in shares of Watsco by 4.6% in the 1st quarter. First Horizon Advisors Inc. now owns 569 shares of the construction company's stock worth $290,000 after acquiring an additional 25 shares during the last quarter. WCM Investment Management LLC increased its position in shares of Watsco by 3.3% during the 1st quarter. WCM Investment Management LLC now owns 6,398 shares of the construction company's stock worth $3,211,000 after purchasing an additional 207 shares during the last quarter. Rossby Financial LCC acquired a new stake in shares of Watsco during the 1st quarter worth about $33,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Watsco by 576.8% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,630 shares of the construction company's stock worth $10,995,000 after purchasing an additional 18,434 shares during the last quarter. Finally, Koshinski Asset Management Inc. increased its position in shares of Watsco by 7.8% during the 1st quarter. Koshinski Asset Management Inc. now owns 456 shares of the construction company's stock worth $232,000 after purchasing an additional 33 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WSO shares. JPMorgan Chase & Co. raised their target price on Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a report on Tuesday, May 27th. Mizuho set a $490.00 target price on Watsco in a report on Thursday, April 24th. UBS Group lowered their target price on Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a report on Wednesday, June 25th. Robert W. Baird lowered their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Seven equities research 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, the stock has an average rating of "Hold" and a consensus price target of $484.17.

Watsco Stock Performance

Shares of WSO traded down $4.96 during midday trading on Friday, hitting $471.33. The company had a trading volume of 232,042 shares, compared to its average volume of 261,633. The company's 50-day simple moving average is $453.34 and its 200-day simple moving average is $476.97. The firm has a market capitalization of $19.09 billion, a P/E ratio of 36.23 and a beta of 1.04. Watsco, Inc. has a 1 year low of $418.31 and a 1 year high of $571.42.

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

Watsco Announces Dividend

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

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.