National Pension Service Has $1.40 Million Stake in Watsco, Inc. $WSO

National Pension Service reduced its holdings in shares of Watsco, Inc. (NYSE:WSO) by 37.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,362 shares of the construction company’s stock after selling 2,021 shares during the quarter. National Pension Service’s holdings in Watsco were worth $1,401,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WSO. California State Teachers Retirement System lifted its position in Watsco by 35,175.5% in the 2nd quarter. California State Teachers Retirement System now owns 19,402,949 shares of the construction company’s stock valued at $8,085,791,000 after acquiring an additional 19,347,945 shares in the last quarter. Capital International Investors grew its position in Watsco by 103.1% in the 4th quarter. Capital International Investors now owns 4,642,893 shares of the construction company’s stock worth $1,564,423,000 after purchasing an additional 2,356,998 shares in the last quarter. Norges Bank bought a new position in shares of Watsco in the fourth quarter valued at approximately $110,853,000. Corient Private Wealth LLC increased its position in shares of Watsco by 202.6% during the 4th quarter. Corient Private Wealth LLC now owns 472,182 shares of the construction company’s stock valued at $159,102,000 after purchasing an additional 316,129 shares during the last quarter. Finally, Bank of America Corp DE purchased a new stake in Watsco during the second quarter worth about $119,291,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Up 0.0%

NYSE WSO opened at $314.36 on Monday. Watsco, Inc. has a twelve month low of $295.75 and a twelve month high of $459.00. The firm has a market capitalization of $12.97 billion, a PE ratio of 27.26 and a beta of 1.05. The stock’s 50 day moving average is $336.64 and its 200 day moving average is $374.87.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, July 29th. The construction company reported $4.00 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.41). Watsco had a net margin of 6.53% and a return on equity of 14.40%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the firm posted $4.52 earnings per share. Watsco’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, research analysts anticipate that Watsco, Inc. will post 12.21 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 16th were paid a $3.30 dividend. This represents a $13.20 annualized dividend and a yield of 4.2%. The ex-dividend date was Thursday, July 16th. Watsco’s dividend payout ratio is presently 114.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WSO shares. Robert W. Baird set a $400.00 price target on Watsco in a report on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a research report on Friday, June 26th. DA Davidson decreased their target price on shares of Watsco from $385.00 to $330.00 and set a “neutral” rating on the stock in a research note on Thursday, July 30th. Stephens reiterated an “overweight” rating and set a $485.00 price target on shares of Watsco in a report on Monday, August 17th. Finally, Morgan Stanley increased their price target on shares of Watsco from $370.00 to $405.00 and gave the company an “equal weight” rating in a research report on Friday, July 10th. Two investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $395.50.

Watsco Company Profile

Watsco, Inc is a distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment and related products. The company supplies residential and commercial contractors with air conditioners, furnaces, heat pumps, refrigeration systems, ductwork, thermostats, controls, tools, replacement parts and other installation supplies.

Through its distribution network and digital sales platforms, Watsco serves HVAC/R contractors, dealers and other customers primarily across the United States, as well as in Canada and Puerto Rico.