Watsco, Inc. (NYSE:WSO) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 7.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,408 shares of the construction company's stock after purchasing an additional 3,813 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of Watsco worth $26,762,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Citizens Financial Group Inc. RI raised its position in shares of Watsco by 40.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company's stock valued at $1,582,000 after buying an additional 929 shares during the period. Larson Financial Group LLC raised its position in Watsco by 3,571.0% in the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company's stock valued at $560,000 after purchasing an additional 1,107 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company's stock valued at $31,853,000 after purchasing an additional 1,074 shares during the last quarter. Markel Group Inc. grew its holdings in shares of Watsco by 0.9% during the 2nd quarter. Markel Group Inc. now owns 571,250 shares of the construction company's stock worth $264,626,000 after purchasing an additional 5,000 shares during the period. Finally, Interval Partners LP acquired a new stake in shares of Watsco during the 2nd quarter worth about $11,740,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Down 0.3 %

WSO traded down $1.74 during mid-day trading on Friday, hitting $509.72. 142,166 shares of the stock were exchanged, compared to its average volume of 175,763. The company has a market cap of $20.58 billion, a PE ratio of 39.39 and a beta of 0.92. The firm's fifty day moving average is $512.83 and its two-hundred day moving average is $490.89. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same period in the previous year, the business posted $4.35 EPS. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders 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 dividend yield of 2.12%. The ex-dividend date was Wednesday, October 16th. Watsco's dividend payout ratio is currently 83.46%.

Analyst Ratings Changes

A number of research analysts have commented on WSO shares. Robert W. Baird decreased their target price on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Northcoast Research began coverage on shares of Watsco in a research report on Friday, November 22nd. They set a "neutral" rating for the company.

Watsco 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.