Teacher Retirement System of Texas decreased its position in Watsco, Inc. (NYSE:WSO – Free Report) by 76.0% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,518 shares of the construction company’s stock after selling 7,988 shares during the quarter. Teacher Retirement System of Texas’ holdings in Watsco were worth $961,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. CHICAGO TRUST Co NA boosted its holdings in Watsco by 1.9% in the second quarter. CHICAGO TRUST Co NA now owns 3,432 shares of the construction company’s stock valued at $1,309,000 after acquiring an additional 65 shares during the last quarter. Monument Capital Management bought a new position in Watsco in the second quarter valued at about $2,721,000. Louisiana State Employees Retirement System boosted its holdings in Watsco by 11.4% during the second quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the construction company’s stock worth $3,738,000 after buying an additional 1,000 shares during the last quarter. Capital Advisors Inc. OK boosted its holdings in Watsco by 2.2% during the second quarter. Capital Advisors Inc. OK now owns 100,987 shares of the construction company’s stock worth $38,523,000 after buying an additional 2,204 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in Watsco by 4.7% during the second quarter. Stratos Wealth Partners LTD. now owns 21,485 shares of the construction company’s stock worth $8,196,000 after buying an additional 958 shares during the last quarter. Institutional investors own 89.49% of the company’s stock.
Wall Street Analysts Forecast Growth
WSO has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on Watsco in a report on Thursday, October 5th. They set a “hold” rating on the stock. Loop Capital raised their target price on Watsco from $335.00 to $350.00 in a report on Monday, September 18th. JPMorgan Chase & Co. raised their target price on Watsco from $305.00 to $325.00 and gave the stock a “neutral” rating in a report on Wednesday, August 2nd. Mizuho initiated coverage on Watsco in a report on Monday, July 24th. They set a “neutral” rating and a $360.00 target price on the stock. Finally, Robert W. Baird raised their target price on Watsco from $375.00 to $380.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $366.89.
Watsco Trading Up 2.1 %
NYSE WSO opened at $396.20 on Tuesday. The firm has a market cap of $15.48 billion, a P/E ratio of 26.72, a P/E/G ratio of 4.99 and a beta of 0.93. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.02 and a quick ratio of 1.25. The stock’s 50-day moving average is $360.32 and its 200-day moving average is $350.02. Watsco, Inc. has a one year low of $228.61 and a one year high of $396.73.
Watsco (NYSE:WSO – Get Free Report) last announced its earnings results on Tuesday, August 1st. The construction company reported $4.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.87 by ($0.45). Watsco had a net margin of 8.06% and a return on equity of 22.94%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the business posted $4.93 EPS. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Watsco, Inc. will post 14.05 earnings per share for the current fiscal year.
Watsco Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Tuesday, October 17th will be given a $2.45 dividend. This represents a $9.80 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date is Monday, October 16th. Watsco’s dividend payout ratio is presently 66.08%.
Watsco Company Profile
Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies. 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.
Read More
- Five stocks we like better than Watsco
- Which Wall Street Analysts are the Most Accurate?
- MarketBeat ‘Stock of the Week’ Ford, Strike Presents Opportunity
- Manufacturing Stocks Investing
- Healthcare Giant Outperforms: A Healthy Dose of Market Resilience
- How to Buy Gold Stock and Invest in Gold
- 5 Reasons Rivian is a Buy on Shaken Investor Sentiment
Want to see what other hedge funds are holding WSO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Watsco, Inc. (NYSE:WSO – Free Report).
Receive News & Ratings for Watsco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco and related companies with MarketBeat.com's FREE daily email newsletter.
