Watsco, Inc. (NYSE:WSO) Stock Holdings Trimmed by State of Michigan Retirement System

State of Michigan Retirement System trimmed its stake in Watsco, Inc. (NYSE:WSO - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,283 shares of the construction company's stock after selling 600 shares during the quarter. State of Michigan Retirement System's holdings in Watsco were worth $3,925,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. J. W. Coons Advisors LLC grew its holdings in shares of Watsco by 0.7% during the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company's stock worth $1,475,000 after purchasing an additional 20 shares during the period. My Legacy Advisors LLC raised its stake in shares of Watsco by 3.2% in the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company's stock valued at $329,000 after acquiring an additional 21 shares during the period. Avidian Wealth Enterprises LLC boosted its position in Watsco by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock worth $567,000 after purchasing an additional 21 shares during the period. Centennial Wealth Advisory LLC raised its holdings in shares of Watsco by 3.0% during the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company's stock valued at $358,000 after buying an additional 22 shares during the period. Finally, Principal Securities Inc. boosted its holdings in Watsco by 6.9% in the 4th quarter. Principal Securities Inc. now owns 373 shares of the construction company's stock worth $177,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 89.71% of the company's stock.

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Insider Buying and Selling at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 12.86% of the stock is currently owned by insiders.

Watsco Price Performance

Shares of WSO stock traded down $14.12 on Tuesday, hitting $506.39. 422,012 shares of the stock traded hands, compared to its average volume of 274,785. The company's fifty day moving average is $487.22 and its 200 day moving average is $494.62. Watsco, Inc. has a 1-year low of $393.88 and a 1-year high of $571.41. The company has a market capitalization of $20.45 billion, a PE ratio of 38.22 and a beta of 0.92.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, topping analysts' consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.75 billion for the quarter, compared to analysts' expectations of $1.67 billion. As a group, equities research analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders 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 dividend on an annualized basis and a yield of 2.13%. Watsco's dividend payout ratio is currently 81.51%.

Wall Street Analyst Weigh In

WSO has been the subject of several recent analyst reports. Robert W. Baird raised their target price on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research note on Wednesday, February 19th. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating on the stock. Raymond James started coverage on shares of Watsco in a research report on Friday, January 17th. They set a "market perform" rating for the company. Finally, Loop Capital upped 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. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $486.25.

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.