Public Employees Retirement Association of Colorado Has $1.69 Million Stake in Watsco, Inc. (NYSE:WSO)

Public Employees Retirement Association of Colorado lowered its position in Watsco, Inc. (NYSE:WSO) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,650 shares of the construction company’s stock after selling 131 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Watsco were worth $1,691,000 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 WSO. Vanguard Group Inc. raised its holdings in shares of Watsco by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock valued at $1,473,836,000 after purchasing an additional 146,305 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Watsco by 1.2% in the second quarter. Blair William & Co. IL now owns 801,152 shares of the construction company’s stock worth $371,126,000 after buying an additional 9,141 shares during the last quarter. Markel Group Inc. raised its stake in shares of Watsco by 0.9% in the 2nd quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock valued at $264,626,000 after acquiring an additional 5,000 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Watsco by 1.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company’s stock worth $182,068,000 after purchasing an additional 6,320 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in Watsco by 4.8% during the fourth quarter. Baird Financial Group Inc. now owns 340,023 shares of the construction company’s stock worth $145,690,000 after purchasing an additional 15,552 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Up 1.4 %

WSO stock opened at $496.57 on Tuesday. The business’s 50-day simple moving average is $478.58 and its 200 day simple moving average is $462.70. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The company has a market cap of $20.01 billion, a PE ratio of 38.20 and a beta of 0.88. Watsco, Inc. has a twelve month low of $338.58 and a twelve month high of $520.41.

Watsco (NYSE:WSO) last released its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.70 by ($0.21). The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.19 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. The business’s revenue for the quarter was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.42 earnings per share. On average, research analysts anticipate that Watsco, Inc. will post 13.83 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Tuesday, July 16th. Watsco’s dividend payout ratio is 83.08%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on WSO shares. Robert W. Baird upped their price objective on shares of Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $469.80.

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.