California Public Employees Retirement System Has $26.88 Million Stake in Watsco, Inc. (NYSE:WSO)

California Public Employees Retirement System lessened its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,725 shares of the construction company's stock after selling 4,612 shares during the period. California Public Employees Retirement System owned about 0.14% of Watsco worth $26,881,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WSO. My Legacy Advisors LLC grew its holdings in shares of Watsco by 3.2% during the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company's stock valued at $329,000 after buying an additional 21 shares in the last quarter. 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 acquiring an additional 21 shares during the period. Centennial Wealth Advisory LLC grew its stake in 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 acquiring an additional 22 shares in the last quarter. M&T Bank Corp increased its holdings in shares of Watsco by 1.4% in the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company's stock valued at $799,000 after purchasing an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Watsco by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company's stock worth $3,645,000 after purchasing an additional 23 shares in the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on WSO. Loop Capital upped their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a research note on Thursday, February 27th. Raymond James initiated coverage on shares of Watsco in a research note on Friday, January 17th. They issued a "market perform" rating on the stock. Finally, Robert W. Baird lifted their price objective on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $486.25.

Watsco Stock Performance

Shares of Watsco stock traded down $11.62 during midday trading on Tuesday, reaching $461.08. 308,206 shares of the company's stock traded hands, compared to its average volume of 254,316. Watsco, Inc. has a 52 week low of $396.82 and a 52 week high of $571.42. The company's 50 day simple moving average is $495.06 and its 200 day simple moving average is $498.77. The company has a market cap of $18.63 billion, a price-to-earnings ratio of 34.80 and a beta of 1.00.

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

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a yield of 2.60%. This is a boost from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio is presently 90.57%.

Watsco Company 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.