Allianz Asset Management GmbH Has $2.28 Million Holdings in Watsco, Inc. $WSO

Allianz Asset Management GmbH grew its holdings in Watsco, Inc. (NYSE:WSO) by 237.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,629 shares of the construction company’s stock after purchasing an additional 3,961 shares during the quarter. Allianz Asset Management GmbH’s holdings in Watsco were worth $2,276,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Empowered Funds LLC lifted its holdings in Watsco by 4.1% during the first quarter. Empowered Funds LLC now owns 5,927 shares of the construction company’s stock worth $3,013,000 after acquiring an additional 232 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of Watsco during the second quarter worth about $26,000. Blue Trust Inc. raised its position in shares of Watsco by 20.0% during the second quarter. Blue Trust Inc. now owns 378 shares of the construction company’s stock worth $167,000 after purchasing an additional 63 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Watsco by 11.9% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 67,772 shares of the construction company’s stock valued at $30,876,000 after purchasing an additional 7,197 shares in the last quarter. Finally, MGO One Seven LLC acquired a new position in shares of Watsco in the 2nd quarter valued at approximately $712,000. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Shares of WSO opened at $415.95 on Friday. Watsco, Inc. has a 52 week low of $323.05 and a 52 week high of $535.40. The firm has a market cap of $16.87 billion, a P/E ratio of 32.50 and a beta of 1.04. The firm’s 50-day simple moving average is $369.99 and its 200 day simple moving average is $380.20.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were paid a dividend of $3.00 per share. The ex-dividend date was Friday, January 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.9%. Watsco’s dividend payout ratio (DPR) is 93.75%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Wolfe Research set a $349.00 target price on Watsco in a research note on Tuesday, December 9th. KeyCorp reiterated a “sector weight” rating on shares of Watsco in a report on Friday, December 12th. JPMorgan Chase & Co. increased their price objective on shares of Watsco from $360.00 to $370.00 and gave the stock a “neutral” rating in a research report on Friday, January 16th. Zacks Research cut shares of Watsco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research note on Thursday, October 30th. One analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $404.14.

Watsco Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.