Public Employees Retirement System of Ohio Sells 1,048 Shares of Watsco, Inc. (NYSE:WSO)

Public Employees Retirement System of Ohio trimmed its position in Watsco, Inc. (NYSE:WSO - Free Report) by 7.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 13,906 shares of the construction company's stock after selling 1,048 shares during the period. Public Employees Retirement System of Ohio's holdings in Watsco were worth $6,590,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Watsco by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 3,618,109 shares of the construction company's stock valued at $1,714,586,000 after purchasing an additional 52,127 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Watsco by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock worth $649,957,000 after purchasing an additional 118,713 shares during the period. Geode Capital Management LLC boosted its position in shares of Watsco by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company's stock worth $343,168,000 after purchasing an additional 20,856 shares in the last quarter. Markel Group Inc. boosted its position in shares of Watsco by 1.4% during the 4th quarter. Markel Group Inc. now owns 590,500 shares of the construction company's stock worth $279,832,000 after purchasing an additional 8,000 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Watsco by 2.9% during the 4th quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company's stock worth $226,268,000 after purchasing an additional 13,409 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Stock Down 0.6%

Shares of NYSE:WSO traded down $2.50 during midday trading on Friday, reaching $443.35. 405,339 shares of the company traded hands, compared to its average volume of 257,580. Watsco, Inc. has a 12 month low of $435.58 and a 12 month high of $571.42. The firm has a market capitalization of $17.96 billion, a price-to-earnings ratio of 33.46 and a beta of 1.11. The firm's fifty day moving average price is $481.57 and its two-hundred day moving average price is $494.65.

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). The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.66 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.17 earnings per share. Analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a $3.00 dividend. This is a positive change from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend was Tuesday, April 15th. Watsco's dividend payout ratio is currently 92.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WSO shares. UBS Group reduced their price objective on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Morgan Stanley started coverage on Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 price objective on the stock. Loop Capital boosted their target price on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Robert W. Baird reduced their price target on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $486.67.

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.