Watsco, Inc. (NYSE:WSO) Given Average Recommendation of “Hold” by Analysts

Watsco, Inc. (NYSE:WSO) has been assigned an average rating of “Hold” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $373.78.

WSO has been the topic of several analyst reports. Robert W. Baird boosted their price objective on shares of Watsco from $375.00 to $380.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Watsco in a research note on Monday, August 28th. UBS Group boosted their target price on shares of Watsco from $340.00 to $402.00 and gave the company a “neutral” rating in a report on Tuesday, October 10th. Morgan Stanley boosted their target price on shares of Watsco from $326.00 to $337.00 and gave the company an “underweight” rating in a report on Friday, September 22nd. Finally, Mizuho assumed coverage on shares of Watsco in a report on Monday, July 24th. They issued a “neutral” rating and a $360.00 target price on the stock.

Watsco Stock Performance

NYSE WSO opened at $390.23 on Tuesday. The firm’s fifty day moving average price is $368.26 and its two-hundred day moving average price is $359.97. The stock has a market cap of $15.37 billion, a PE ratio of 25.76, a PEG ratio of 4.06 and a beta of 0.89. Watsco has a fifty-two week low of $243.38 and a fifty-two week high of $406.08. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.33 and a current ratio of 3.08.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Thursday, October 19th. The construction company reported $4.35 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.07. Watsco had a net margin of 8.14% and a return on equity of 22.66%. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the firm posted $4.03 earnings per share. Watsco’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, equities analysts expect that Watsco will post 14.12 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Tuesday, October 17th were issued a dividend of $2.45 per share. The ex-dividend date was Monday, October 16th. This represents a $9.80 annualized dividend and a dividend yield of 2.51%. Watsco’s dividend payout ratio is currently 64.69%.

Hedge Funds Weigh In On Watsco

Several institutional investors have recently made changes to their positions in WSO. Raleigh Capital Management Inc. acquired a new position in shares of Watsco during the second quarter valued at about $31,000. Colonial Trust Co SC increased its position in shares of Watsco by 78.1% during the first quarter. Colonial Trust Co SC now owns 114 shares of the construction company’s stock worth $36,000 after acquiring an additional 50 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Watsco during the third quarter worth about $37,000. Acadian Asset Management LLC bought a new stake in shares of Watsco during the first quarter worth about $38,000. Finally, WealthPlan Investment Management LLC bought a new stake in shares of Watsco during the first quarter worth about $39,000. Institutional investors and hedge funds own 89.49% of the company’s stock.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies. 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.