Retirement Systems of Alabama raised its stake in shares of Watsco, Inc. (NYSE:WSO) by 3.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,717 shares of the construction company’s stock after buying an additional 2,035 shares during the period. Retirement Systems of Alabama owned about 0.19% of Watsco worth $9,363,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Flinton Capital Management LLC increased its stake in shares of Watsco by 9.1% in the first quarter. Flinton Capital Management LLC now owns 768 shares of the construction company’s stock valued at $110,000 after buying an additional 64 shares during the last quarter. Winslow Evans & Crocker Inc. increased its stake in shares of Watsco by 300.0% in the second quarter. Winslow Evans & Crocker Inc. now owns 800 shares of the construction company’s stock valued at $123,000 after buying an additional 600 shares during the last quarter. Creative Planning increased its stake in shares of Watsco by 1.5% in the first quarter. Creative Planning now owns 979 shares of the construction company’s stock valued at $140,000 after buying an additional 14 shares during the last quarter. Public Employees Retirement Association of Colorado increased its stake in shares of Watsco by 15.7% in the second quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock valued at $147,000 after buying an additional 129 shares during the last quarter. Finally, Meadow Creek Investment Management LLC increased its stake in shares of Watsco by 9.1% in the first quarter. Meadow Creek Investment Management LLC now owns 1,056 shares of the construction company’s stock valued at $151,000 after buying an additional 88 shares during the last quarter. 81.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Watsco, Inc. (NYSE WSO) opened at 147.33 on Friday. Watsco, Inc. has a 1-year low of $128.60 and a 1-year high of $159.55. The company has a market cap of $4.82 billion, a P/E ratio of 27.24 and a beta of 0.83. The stock has a 50 day moving average price of $151.74 and a 200-day moving average price of $147.07.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.05. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.82 EPS. Analysts predict that Watsco, Inc. will post $5.78 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 31st. Stockholders of record on Monday, July 17th were paid a $1.25 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.39%. This is an increase from Watsco’s previous quarterly dividend of $1.05. Watsco’s dividend payout ratio is 93.11%.

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Several brokerages have weighed in on WSO. Zacks Investment Research raised Watsco from a “hold” rating to a “buy” rating and set a $169.00 target price on the stock in a research note on Tuesday, August 1st. BidaskClub raised Watsco from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Stifel Nicolaus lifted their target price on Watsco from $152.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, April 26th. Seaport Global Securities raised Watsco from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $160.00 in a research note on Wednesday, April 26th. Finally, Wolfe Research began coverage on Watsco in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Watsco presently has a consensus rating of “Hold” and a consensus target price of $163.20.

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.

Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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