New Mexico Educational Retirement Board grew its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 11.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,118 shares of the construction company's stock after buying an additional 718 shares during the quarter. New Mexico Educational Retirement Board's holdings in Watsco were worth $3,373,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. FMR LLC grew its holdings in shares of Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock worth $1,782,651,000 after acquiring an additional 346,470 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Watsco by 5.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock worth $616,357,000 after purchasing an additional 62,041 shares in the last quarter. State Street Corp lifted its position in Watsco by 5.9% during the third quarter. State Street Corp now owns 1,173,762 shares of the construction company's stock valued at $577,350,000 after buying an additional 65,846 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Watsco by 9.9% during the 3rd quarter. Geode Capital Management LLC now owns 704,330 shares of the construction company's stock valued at $345,783,000 after buying an additional 63,254 shares in the last quarter. Finally, Markel Group Inc. grew its position in shares of Watsco by 2.0% in the 3rd quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock worth $286,520,000 after buying an additional 11,250 shares during the period. 89.71% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 12.86% of the stock is owned by corporate insiders.
Watsco Stock Down 3.7 %
Shares of NYSE WSO traded down $19.64 during midday trading on Wednesday, hitting $511.11. The stock had a trading volume of 521,627 shares, compared to its average volume of 243,351. The business's 50 day moving average is $484.96 and its 200-day moving average is $491.61. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The company has a market cap of $20.64 billion, a P/E ratio of 39.50 and a beta of 0.95.
Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. As a group, analysts expect that Watsco, Inc. will post 13.03 EPS for the current fiscal year.
Watsco Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.11%. Watsco's payout ratio is 83.46%.
Wall Street Analysts Forecast Growth
WSO has been the topic of a number of recent research reports. Northcoast Research began coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. Raymond James began coverage on Watsco in a research report on Friday, January 17th. They set a "market perform" rating for the company. Finally, Robert W. Baird boosted their target price on Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a report on Wednesday. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $495.00.
Get Our Latest Research Report on WSO
About Watsco
(
Free Report)
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.
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