State of New Jersey Common Pension Fund D Has $5.84 Million Stake in Watsco, Inc. (NYSE:WSO)

State of New Jersey Common Pension Fund D decreased its holdings in Watsco, Inc. (NYSE:WSO) by 34.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,597 shares of the construction company’s stock after selling 6,507 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Watsco were worth $5,835,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Shaker Investments LLC OH increased its holdings in shares of Watsco by 0.3% in the 1st quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock valued at $3,267,000 after purchasing an additional 24 shares during the period. Mather Group LLC. increased its holdings in shares of Watsco by 10.2% in the 2nd quarter. Mather Group LLC. now owns 293 shares of the construction company’s stock valued at $127,000 after purchasing an additional 27 shares during the period. EntryPoint Capital LLC increased its holdings in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares during the period. Salomon & Ludwin LLC increased its holdings in shares of Watsco by 52.6% in the 1st quarter. Salomon & Ludwin LLC now owns 87 shares of the construction company’s stock valued at $38,000 after purchasing an additional 30 shares during the period. Finally, Trueblood Wealth Management LLC increased its holdings in shares of Watsco by 0.9% in the 1st quarter. Trueblood Wealth Management LLC now owns 3,603 shares of the construction company’s stock valued at $1,556,000 after purchasing an additional 32 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Up 1.2 %

Shares of WSO stock opened at $476.71 on Monday. Watsco, Inc. has a 12 month low of $338.58 and a 12 month high of $520.41. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $478.11 and its two-hundred day moving average is $458.65. The company has a market cap of $19.23 billion, a PE ratio of 36.67 and a beta of 0.88.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing the consensus estimate of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter last year, the business earned $4.42 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis. Equities analysts predict that Watsco, Inc. will post 13.83 EPS for the current year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were issued a dividend of $2.70 per share. The ex-dividend date was Tuesday, July 16th. This represents a $10.80 annualized dividend and a yield of 2.27%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on WSO shares. JPMorgan Chase & Co. increased their price objective on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird increased their price objective on Watsco from $460.00 to $522.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $433.71.

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.