Texas Permanent School Fund Has $3.59 Million Position in Watsco Inc (WSO)

Texas Permanent School Fund reduced its position in Watsco Inc (NYSE:WSO) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,168 shares of the construction company’s stock after selling 513 shares during the period. Texas Permanent School Fund owned about 0.05% of Watsco worth $3,592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of WSO. Guggenheim Capital LLC raised its position in Watsco by 8.4% during the first quarter. Guggenheim Capital LLC now owns 5,592 shares of the construction company’s stock worth $1,013,000 after acquiring an additional 435 shares during the period. Legal & General Group Plc raised its position in Watsco by 16.5% during the first quarter. Legal & General Group Plc now owns 43,300 shares of the construction company’s stock worth $7,836,000 after acquiring an additional 6,122 shares during the period. Royal Bank of Canada raised its position in Watsco by 6.3% during the first quarter. Royal Bank of Canada now owns 44,582 shares of the construction company’s stock worth $8,068,000 after acquiring an additional 2,661 shares during the period. Principal Financial Group Inc. raised its position in Watsco by 8.0% during the first quarter. Principal Financial Group Inc. now owns 140,672 shares of the construction company’s stock worth $25,457,000 after acquiring an additional 10,442 shares during the period. Finally, Bath Savings Trust Co raised its position in Watsco by 2.7% during the second quarter. Bath Savings Trust Co now owns 29,362 shares of the construction company’s stock worth $5,235,000 after acquiring an additional 775 shares during the period. Hedge funds and other institutional investors own 83.04% of the company’s stock.

WSO has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $197.00 price objective for the company in a research report on Thursday, September 27th. Buckingham Research reduced their price objective on shares of Watsco from $187.00 to $167.00 and set a “neutral” rating for the company in a research report on Friday, October 26th. ValuEngine upgraded shares of Watsco from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Seaport Global Securities cut shares of Watsco from a “buy” rating to a “neutral” rating in a research report on Thursday, July 26th. Finally, Jefferies Financial Group initiated coverage on shares of Watsco in a research report on Friday, October 12th. They set a “hold” rating and a $160.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $182.38.

Watsco stock opened at $141.48 on Wednesday. Watsco Inc has a 52-week low of $138.61 and a 52-week high of $192.94. The firm has a market cap of $5.47 billion, a PE ratio of 25.82, a price-to-earnings-growth ratio of 1.76 and a beta of 0.71. The company has a quick ratio of 1.36, a current ratio of 2.95 and a debt-to-equity ratio of 0.09.

Watsco (NYSE:WSO) last released its earnings results on Thursday, October 25th. The construction company reported $2.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.26 by ($0.15). Watsco had a return on equity of 14.00% and a net margin of 5.15%. The business had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company earned $1.82 EPS. Equities research analysts anticipate that Watsco Inc will post 6.46 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th will be issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date is Friday, October 12th. Watsco’s payout ratio is 105.84%.

Watsco Profile

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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