Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 12.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,020 shares of the construction company’s stock after buying an additional 800 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Watsco were worth $1,082,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in Watsco by 5,677.9% during the first quarter. BlackRock Inc. now owns 2,656,561 shares of the construction company’s stock valued at $380,367,000 after buying an additional 2,610,583 shares during the period. Vanguard Group Inc. grew its position in Watsco by 1.4% during the second quarter. Vanguard Group Inc. now owns 2,489,042 shares of the construction company’s stock valued at $383,810,000 after buying an additional 34,943 shares during the period. FMR LLC grew its position in Watsco by 10.7% during the second quarter. FMR LLC now owns 1,023,513 shares of the construction company’s stock valued at $157,826,000 after buying an additional 99,041 shares during the period. Ameriprise Financial Inc. grew its position in Watsco by 54.7% during the second quarter. Ameriprise Financial Inc. now owns 875,680 shares of the construction company’s stock valued at $134,994,000 after buying an additional 309,675 shares during the period. Finally, TimesSquare Capital Management LLC grew its position in Watsco by 198.9% during the second quarter. TimesSquare Capital Management LLC now owns 753,600 shares of the construction company’s stock valued at $116,205,000 after buying an additional 501,450 shares during the period. Institutional investors own 81.63% of the company’s stock.

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Several equities analysts have weighed in on WSO shares. Zacks Investment Research downgraded shares of Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Morgan Stanley lifted their price target on shares of Watsco from $141.00 to $151.00 and gave the company an “underweight” rating in a report on Monday, September 25th. Stifel Nicolaus reaffirmed a “buy” rating and set a $154.00 price target on shares of Watsco in a report on Thursday, September 7th. Robert W. Baird reaffirmed a “buy” rating and set a $163.00 price target on shares of Watsco in a report on Friday, September 1st. Finally, BidaskClub downgraded shares of Watsco from a “buy” rating to a “hold” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. Watsco presently has an average rating of “Hold” and an average price target of $161.17.

Watsco, Inc. (WSO) opened at 162.45 on Tuesday. Watsco, Inc. has a one year low of $128.60 and a one year high of $163.95. The stock has a market cap of $5.31 billion, a P/E ratio of 30.04 and a beta of 0.84. The firm’s 50-day moving average is $153.40 and its 200 day moving average is $147.54.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The business’s revenue was up 5.1% on a year-over-year basis. During the same quarter last year, the company earned $1.82 EPS. On average, analysts anticipate that Watsco, Inc. will post $5.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Monday, October 16th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Friday, October 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.08%. Watsco’s payout ratio is 93.11%.

About Watsco

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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