Teacher Retirement System of Texas raised its stake in Watsco Inc (NYSE:WSO) by 313.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,422 shares of the construction company’s stock after buying an additional 7,901 shares during the period. Teacher Retirement System of Texas’ holdings in Watsco were worth $1,772,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Brookstone Capital Management boosted its position in Watsco by 17.1% in the third quarter. Brookstone Capital Management now owns 2,155 shares of the construction company’s stock valued at $347,000 after buying an additional 314 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Watsco by 1.7% during the third quarter. Prudential Financial Inc. now owns 19,248 shares of the construction company’s stock worth $3,100,000 after purchasing an additional 330 shares during the period. Pennsylvania Trust Co lifted its holdings in shares of Watsco by 1.6% during the fourth quarter. Pennsylvania Trust Co now owns 30,127 shares of the construction company’s stock worth $5,122,000 after purchasing an additional 463 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Watsco by 35.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,816 shares of the construction company’s stock worth $309,000 after purchasing an additional 476 shares during the period. Finally, Tocqueville Asset Management L.P. lifted its holdings in shares of Watsco by 11.6% during the third quarter. Tocqueville Asset Management L.P. now owns 5,310 shares of the construction company’s stock worth $855,000 after purchasing an additional 550 shares during the period. Hedge funds and other institutional investors own 81.80% of the company’s stock.
A number of equities analysts have recently commented on WSO shares. KeyCorp reiterated a “buy” rating on shares of Watsco in a report on Friday, November 17th. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a report on Monday, January 22nd. Stephens set a $169.00 price target on shares of Watsco and gave the stock a “hold” rating in a report on Thursday, February 8th. Susquehanna Bancshares set a $195.00 price target on shares of Watsco and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. cut their price target on shares of Watsco from $180.00 to $169.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $168.88.
Watsco Inc (NYSE WSO) opened at $168.49 on Friday. Watsco Inc has a 52 week low of $134.08 and a 52 week high of $182.79. The firm has a market cap of $5,975.54, a price-to-earnings ratio of 29.10 and a beta of 0.87. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.38 and a current ratio of 3.21.
Watsco (NYSE:WSO) last announced its earnings results on Thursday, February 8th. The construction company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). Watsco had a return on equity of 14.66% and a net margin of 4.80%. The firm had revenue of $964.35 million for the quarter, compared to the consensus estimate of $965.85 million. During the same period in the prior year, the business earned $0.81 EPS. Watsco’s quarterly revenue was up 5.6% on a year-over-year basis. analysts expect that Watsco Inc will post 6.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date was Friday, January 12th. Watsco’s dividend payout ratio is presently 86.36%.
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Watsco Company Profile
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.
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