Watsco, Inc. (NYSE:WSO) Shares Acquired by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado raised its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 503.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,011 shares of the construction company's stock after purchasing an additional 18,361 shares during the period. Public Employees Retirement Association of Colorado owned 0.05% of Watsco worth $10,431,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its position in Watsco by 1.5% during the 4th 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. boosted its stake in Watsco by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company's stock valued at $649,957,000 after purchasing an additional 118,713 shares during the last quarter. Geode Capital Management LLC lifted its stake in Watsco by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 725,186 shares of the construction company's stock valued at $343,168,000 after acquiring an additional 20,856 shares during the period. Markel Group Inc. grew its position in Watsco by 1.4% in 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 during the period. Finally, JPMorgan Chase & Co. increased its position in Watsco by 2.9% during the fourth quarter. JPMorgan Chase & Co. now owns 477,470 shares of the construction company's stock valued at $226,268,000 after acquiring an additional 13,409 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Stock Performance

Watsco stock traded up $11.63 during mid-day trading on Friday, reaching $472.80. 230,959 shares of the company were exchanged, compared to its average volume of 254,913. The firm has a market cap of $19.10 billion, a PE ratio of 35.68 and a beta of 1.00. The firm's 50-day simple moving average is $495.03 and its two-hundred day simple moving average is $497.77. Watsco, Inc. has a twelve month low of $439.08 and a twelve month high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). The firm had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.17 EPS. As a group, equities research analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a yield of 2.54%. This is a positive change from Watsco's previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. Watsco's dividend payout ratio is 92.24%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WSO. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They set a "market perform" rating on the stock. Morgan Stanley initiated coverage on shares of Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price for the company. StockNews.com downgraded Watsco from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Robert W. Baird cut their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Loop Capital raised their price target on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, Watsco has an average rating of "Hold" and an average price target of $480.83.

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.