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.
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, 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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