Retirement Systems of Alabama Acquires 1,267 Shares of Watsco, Inc. (NYSE:WSO)

Retirement Systems of Alabama raised its holdings in Watsco, Inc. (NYSE:WSO) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,071 shares of the construction company’s stock after buying an additional 1,267 shares during the period. Retirement Systems of Alabama owned about 0.14% of Watsco worth $23,168,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Benchmark Financial Wealth Advisors LLC acquired a new stake in shares of Watsco in the 4th quarter worth about $536,000. Louisiana State Employees Retirement System purchased a new stake in Watsco in the 4th quarter valued at $4,070,000. Wellington Management Group LLP lifted its stake in Watsco by 2.6% during the 3rd quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock valued at $245,013,000 after acquiring an additional 16,589 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Watsco during the 4th quarter worth $2,516,000. Finally, Hamlin Capital Management LLC grew its stake in shares of Watsco by 5.7% in the 4th quarter. Hamlin Capital Management LLC now owns 295,833 shares of the construction company’s stock worth $126,756,000 after acquiring an additional 16,006 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Trading Up 1.0 %

NYSE:WSO opened at $447.64 on Tuesday. Watsco, Inc. has a 12 month low of $315.17 and a 12 month high of $451.29. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. The firm’s 50 day moving average is $413.68 and its 200 day moving average is $400.10. The stock has a market capitalization of $17.68 billion, a PE ratio of 34.43 and a beta of 0.89.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.83 earnings per share. Sell-side analysts expect that Watsco, Inc. will post 14.25 earnings per share for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date is Friday, April 12th. This is a positive change from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WSO shares. Robert W. Baird raised their price target on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Stephens reissued an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $404.25.

Watsco 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.