First Republic Investment Management Inc. Has $34.94 Million Position in Watsco, Inc. (WSO)

First Republic Investment Management Inc. lifted its position in shares of Watsco, Inc. (NYSE:WSO) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,932 shares of the construction company’s stock after acquiring an additional 10,216 shares during the period. First Republic Investment Management Inc. owned approximately 0.61% of Watsco worth $34,941,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. San Francisco Sentry Investment Group CA bought a new stake in Watsco in the 2nd quarter worth approximately $125,000. Public Employees Retirement Association of Colorado grew its position in Watsco by 15.7% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 952 shares of the construction company’s stock worth $147,000 after purchasing an additional 129 shares during the period. Creative Planning grew its position in Watsco by 6.1% in the 2nd quarter. Creative Planning now owns 1,039 shares of the construction company’s stock worth $160,000 after purchasing an additional 60 shares during the period. CIBC Asset Management Inc bought a new stake in Watsco in the 3rd quarter worth approximately $206,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Watsco by 14.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,340 shares of the construction company’s stock worth $207,000 after purchasing an additional 166 shares during the period. 82.41% of the stock is owned by institutional investors.

A number of equities research analysts have commented on the stock. Morgan Stanley lifted their target price on shares of Watsco from $151.00 to $156.00 and gave the stock an “underweight” rating in a research report on Thursday, October 26th. KeyCorp reiterated a “buy” rating on shares of Watsco in a research note on Friday, November 17th. Zacks Investment Research cut shares of Watsco from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. BidaskClub cut shares of Watsco from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $154.00 price target on shares of Watsco in a research note on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $160.40.

In related news, SVP Barry S. Logan sold 3,246 shares of Watsco stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $164.30, for a total transaction of $533,317.80. Following the transaction, the senior vice president now owns 15,800 shares in the company, valued at approximately $2,595,940. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 13.93% of the stock is currently owned by insiders.

Watsco, Inc. (NYSE:WSO) traded down $0.56 on Thursday, hitting $166.92. 187,200 shares of the company were exchanged, compared to its average volume of 274,803. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.42 and a current ratio of 3.13. Watsco, Inc. has a 52 week low of $134.08 and a 52 week high of $171.15. The stock has a market cap of $5,985.90, a PE ratio of 31.19 and a beta of 0.83.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.13). Watsco had a net margin of 4.46% and a return on equity of 15.00%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm posted $1.78 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. equities research analysts anticipate that Watsco, Inc. will post 5.59 EPS for the current year.

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Watsco 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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