First Republic Investment Management Inc. cut its holdings in Watsco Inc (NYSE:WSO) by 10.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 195,163 shares of the construction company’s stock after selling 21,769 shares during the quarter. First Republic Investment Management Inc. owned approximately 0.55% of Watsco worth $33,185,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in WSO. SeaCrest Wealth Management LLC acquired a new stake in shares of Watsco in the fourth quarter valued at $103,000. Cigna Investments Inc. New acquired a new stake in shares of Watsco in the fourth quarter valued at $205,000. CIBC Asset Management Inc acquired a new stake in shares of Watsco in the third quarter valued at $206,000. Quantbot Technologies LP acquired a new stake in shares of Watsco in the third quarter valued at $207,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Watsco in the third quarter valued at $215,000. Institutional investors own 81.80% of the company’s stock.
Shares of Watsco Inc (NYSE:WSO) opened at $167.32 on Thursday. The company has a quick ratio of 1.38, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $5,984.47, a PE ratio of 30.67 and a beta of 0.87. Watsco Inc has a 12-month low of $134.08 and a 12-month high of $182.79.
Watsco (NYSE:WSO) last announced its quarterly earnings data on Thursday, February 8th. The construction company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). The firm had revenue of $964.35 million during the quarter, compared to analyst estimates of $965.85 million. Watsco had a return on equity of 14.66% and a net margin of 4.80%. Watsco’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. analysts anticipate that Watsco Inc will post 6.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th were given a $1.25 dividend. The ex-dividend date of this dividend was Friday, January 12th. This represents a $5.00 dividend on an annualized basis and a yield of 2.99%. Watsco’s payout ratio is 86.36%.
A number of analysts have recently weighed in on WSO shares. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $198.00 target price for the company in a research note on Monday, February 5th. JPMorgan Chase & Co. lowered their target price on Watsco from $180.00 to $169.00 and set a “neutral” rating for the company in a research note on Monday, February 12th. KeyCorp restated a “buy” rating on shares of Watsco in a research note on Friday, November 17th. Morgan Stanley raised their target price on Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a research note on Thursday, October 26th. Finally, Susquehanna Bancshares set a $195.00 target price on Watsco and gave the company a “buy” rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $168.88.
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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.
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