New York State Common Retirement Fund Has $19.73 Million Stake in Watsco, Inc. (NYSE:WSO)

New York State Common Retirement Fund decreased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 9.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 46,042 shares of the construction company's stock after selling 4,567 shares during the period. New York State Common Retirement Fund owned about 0.12% of Watsco worth $19,728,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Watsco during the fourth quarter valued at $25,000. Contravisory Investment Management Inc. acquired a new stake in shares of Watsco during the fourth quarter valued at $26,000. Rise Advisors LLC acquired a new stake in Watsco in the 4th quarter worth about $30,000. BKM Wealth Management LLC acquired a new stake in Watsco in the 4th quarter worth about $32,000. Finally, Hartford Financial Management Inc. boosted its stake in Watsco by 53.1% in the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company's stock worth $32,000 after buying an additional 26 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Stock Down 0.2 %

Shares of NYSE:WSO traded down $0.79 during mid-day trading on Friday, hitting $443.21. 277,114 shares of the company traded hands, compared to its average volume of 313,812. The firm has a market cap of $17.51 billion, a P/E ratio of 34.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 2.92. Watsco, Inc. has a 52-week low of $315.17 and a 52-week high of $451.29. The firm's 50 day simple moving average is $412.36 and its 200 day simple moving average is $399.74.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The company had revenue of $1.56 billion for the quarter, compared to analysts' expectations of $1.59 billion. During the same quarter in the previous year, the business posted $2.83 earnings per share. The business's quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Watsco, Inc. will post 14.25 EPS for the current year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Friday, April 12th. This is a positive change from Watsco's previous quarterly dividend of $2.45. Watsco's dividend payout ratio (DPR) is 83.08%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WSO. Stephens reissued an "overweight" rating and issued a $500.00 price target on shares of Watsco in a research note on Thursday. Robert W. Baird raised their price objective on Watsco from $420.00 to $460.00 and gave the stock an "outperform" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $404.25.

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.