State of Alaska Department of Revenue Acquires 560 Shares of Watsco, Inc. (NYSE:WSO)

State of Alaska Department of Revenue lifted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 16.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,037 shares of the construction company’s stock after acquiring an additional 560 shares during the quarter. State of Alaska Department of Revenue’s holdings in Watsco were worth $1,985,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. EntryPoint Capital LLC increased its position in shares of Watsco by 100.0% during 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 last quarter. Quarry LP purchased a new stake in Watsco during the second quarter worth about $26,000. ORG Partners LLC bought a new stake in Watsco in the first quarter worth about $31,000. Tortoise Investment Management LLC boosted its stake in Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after acquiring an additional 32 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Watsco during the 1st quarter valued at approximately $38,000. 89.71% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WSO. JPMorgan Chase & Co. upped their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird cut their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th.

Watsco Trading Up 0.2 %

NYSE:WSO opened at $474.05 on Friday. The company has a market cap of $19.12 billion, a P/E ratio of 36.63 and a beta of 0.88. Watsco, Inc. has a 1 year low of $359.59 and a 1 year high of $520.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.65. The stock’s fifty day moving average price is $481.62 and its two-hundred day moving average price is $475.41.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the business earned $4.35 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, analysts expect that Watsco, Inc. will post 13.43 EPS for the current year.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio is 83.46%.

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.