New Mexico Educational Retirement Board Has $3.37 Million Holdings in Watsco, Inc. (NYSE:WSO)

New Mexico Educational Retirement Board raised its holdings in shares of Watsco, Inc. (NYSE:WSO) by 11.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 7,118 shares of the construction company’s stock after acquiring an additional 718 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Watsco were worth $3,373,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WSO. Wingate Wealth Advisors Inc. acquired a new position in Watsco during the 4th quarter valued at about $36,000. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco in the 3rd quarter valued at approximately $43,000. Quarry LP raised its position in shares of Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after acquiring an additional 33 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Watsco in the 3rd quarter valued at approximately $48,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Watsco in the 4th quarter valued at approximately $50,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WSO shares. Robert W. Baird cut their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Raymond James started coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Finally, Northcoast Research started coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Watsco currently has an average rating of “Hold” and a consensus price target of $488.33.

Insider Buying and Selling

In related news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.86% of the stock is owned by company insiders.

Watsco Stock Performance

NYSE WSO opened at $485.21 on Friday. The business has a 50 day simple moving average of $485.44 and a 200 day simple moving average of $491.05. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41. The stock has a market cap of $19.59 billion, a price-to-earnings ratio of 37.50 and a beta of 0.95.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.23%. Watsco’s 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.