New York State Common Retirement Fund Cuts Stock Position in Watsco, Inc. (NYSE:WSO)

New York State Common Retirement Fund decreased its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 20.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,348 shares of the construction company's stock after selling 9,144 shares during the quarter. New York State Common Retirement Fund owned approximately 0.09% of Watsco worth $17,387,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Stephens Inc. AR boosted its stake in shares of Watsco by 6.9% in the third quarter. Stephens Inc. AR now owns 902 shares of the construction company's stock worth $444,000 after acquiring an additional 58 shares during the period. HM Payson & Co. boosted its stake in Watsco by 83.0% in the 3rd quarter. HM Payson & Co. now owns 410 shares of the construction company's stock worth $202,000 after purchasing an additional 186 shares during the period. First Trust Direct Indexing L.P. raised its position in shares of Watsco by 8.0% during the third quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the construction company's stock valued at $929,000 after buying an additional 140 shares during the last quarter. abrdn plc boosted its position in shares of Watsco by 1.2% during the third quarter. abrdn plc now owns 14,996 shares of the construction company's stock worth $7,378,000 after acquiring an additional 172 shares during the last quarter. Finally, Hunter Associates Investment Management LLC boosted its position in shares of Watsco by 1.8% during the third quarter. Hunter Associates Investment Management LLC now owns 6,555 shares of the construction company's stock worth $3,223,000 after acquiring an additional 115 shares during the last quarter. Institutional investors own 89.71% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on WSO shares. Robert W. Baird dropped their price objective on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on shares of Watsco from $420.00 to $425.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st.

Watsco Trading Up 5.8 %

Shares of NYSE WSO traded up $28.44 during mid-day trading on Wednesday, reaching $516.34. The company had a trading volume of 389,100 shares, compared to its average volume of 286,665. The stock has a market cap of $20.83 billion, a price-to-earnings ratio of 37.70 and a beta of 0.88. Watsco, Inc. has a 52 week low of $362.26 and a 52 week high of $520.41. The business's 50-day moving average is $481.85 and its 200-day moving average is $477.52.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.35 EPS. As a group, equities research analysts forecast that Watsco, Inc. will post 13.28 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date was Wednesday, October 16th. Watsco's dividend payout ratio (DPR) is 83.46%.

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.