Allianz Asset Management GmbH Acquires 1,410 Shares of Watsco, Inc. (NYSE:WSO)

Allianz Asset Management GmbH boosted its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 73.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,332 shares of the construction company's stock after purchasing an additional 1,410 shares during the quarter. Allianz Asset Management GmbH's holdings in Watsco were worth $1,694,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. OneDigital Investment Advisors LLC bought a new stake in Watsco in the first quarter valued at $266,000. Teacher Retirement System of Texas acquired a new stake in Watsco in the first quarter valued at approximately $2,588,000. Golden State Wealth Management LLC increased its holdings in shares of Watsco by 109.4% during the first quarter. Golden State Wealth Management LLC now owns 222 shares of the construction company's stock valued at $113,000 after acquiring an additional 116 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Watsco by 133.1% during the first quarter. SG Americas Securities LLC now owns 844 shares of the construction company's stock worth $429,000 after purchasing an additional 482 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Watsco by 4.8% in the 1st quarter. Fifth Third Bancorp now owns 1,028 shares of the construction company's stock worth $523,000 after purchasing an additional 47 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on WSO. Morgan Stanley set a $505.00 price target on shares of Watsco in a research report on Wednesday, July 2nd. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research report on Friday, May 9th. UBS Group decreased their price objective on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating for the company in a research note on Wednesday, June 25th. Mizuho set a $490.00 target price on Watsco in a report on Thursday, April 24th. Finally, Robert W. Baird cut their price target on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $484.17.

Watsco Trading Up 2.0%

Shares of NYSE WSO traded up $8.67 during midday trading on Thursday, hitting $451.31. The company's stock had a trading volume of 619,536 shares, compared to its average volume of 310,708. The firm has a market capitalization of $18.28 billion, a price-to-earnings ratio of 34.61 and a beta of 1.04. The stock has a fifty day moving average price of $452.52 and a 200 day moving average price of $476.93. Watsco, Inc. has a one year low of $418.31 and a one year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the business earned $4.49 earnings per share. Watsco's revenue was down 3.6% on a year-over-year basis. On average, equities research analysts predict that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th will be given a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date is Wednesday, July 16th. Watsco's dividend payout ratio (DPR) is 92.24%.

Watsco Company 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.