First Republic Investment Management Inc. Raises Stock Holdings in Watsco, Inc. (NYSE:WSO)

First Republic Investment Management Inc. increased its position in Watsco, Inc. (NYSE:WSO – Get Rating) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,256 shares of the construction company’s stock after acquiring an additional 820 shares during the period. First Republic Investment Management Inc.’s holdings in Watsco were worth $19,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Watsco by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 3,325,958 shares of the construction company’s stock valued at $1,013,220,000 after buying an additional 14,122 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Watsco by 5.0% during the 2nd quarter. Baillie Gifford & Co. now owns 2,171,913 shares of the construction company’s stock valued at $518,696,000 after buying an additional 102,460 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Watsco by 9.8% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,715,254 shares of the construction company’s stock valued at $409,638,000 after buying an additional 152,610 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Watsco by 3.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,154,943 shares of the construction company’s stock valued at $351,841,000 after buying an additional 41,148 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of Watsco by 0.3% during the 1st quarter. Capital World Investors now owns 1,127,943 shares of the construction company’s stock valued at $343,617,000 after buying an additional 3,540 shares during the last quarter. Hedge funds and other institutional investors own 84.73% of the company’s stock.

Watsco Trading Up 0.4 %

WSO stock opened at $275.00 on Wednesday. The company has a current ratio of 2.57, a quick ratio of 1.09 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a 12-month low of $220.68 and a 12-month high of $311.86. The stock has a market cap of $10.65 billion, a price-to-earnings ratio of 19.81 and a beta of 0.89. The business’s 50-day moving average is $264.69 and its 200 day moving average is $267.84.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Investors of record on Tuesday, January 17th will be issued a $2.45 dividend. This represents a $9.80 annualized dividend and a yield of 3.56%. This is a boost from Watsco’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Friday, January 13th. Watsco’s payout ratio is presently 70.61%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WSO. UBS Group assumed coverage on Watsco in a research note on Tuesday, January 10th. They set a “neutral” rating and a $280.00 price objective for the company. StockNews.com assumed coverage on Watsco in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Morgan Stanley lifted their price target on Watsco from $217.00 to $218.00 and gave the company an “underweight” rating in a research note on Wednesday, October 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Watsco from $284.00 to $294.00 in a research note on Monday, October 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Watsco presently has an average rating of “Hold” and a consensus target price of $294.17.

Watsco Profile

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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.