Watsco (NYSE:WSO) Hits New 12-Month High at $450.56

Watsco, Inc. (NYSE:WSO)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $450.56 and last traded at $449.36, with a volume of 142526 shares trading hands. The stock had previously closed at $413.57.

Analyst Ratings Changes

WSO has been the subject of several recent analyst reports. Stephens reiterated an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a report on Thursday. Robert W. Baird increased their price objective on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $404.25.

Watsco Stock Up 0.7 %

The stock has a market capitalization of $17.53 billion, a P/E ratio of 34.14 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.47. The stock’s fifty day moving average is $411.12 and its two-hundred day moving average is $399.44.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.83 earnings per share. As a group, research analysts predict that Watsco, Inc. will post 14.19 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be given a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. Watsco’s dividend payout ratio is 83.08%.

Institutional Investors Weigh In On Watsco

Several hedge funds have recently made changes to their positions in the company. Shaker Investments LLC OH lifted its position in shares of Watsco by 0.3% in the 1st quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock valued at $3,267,000 after acquiring an additional 24 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Watsco by 2.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,853 shares of the construction company’s stock valued at $1,664,000 after acquiring an additional 87 shares in the last quarter. Dakota Wealth Management lifted its position in shares of Watsco by 2.2% in the 1st quarter. Dakota Wealth Management now owns 7,459 shares of the construction company’s stock valued at $3,222,000 after acquiring an additional 161 shares in the last quarter. Harvey Investment Co. LLC purchased a new stake in shares of Watsco in the 1st quarter valued at approximately $1,173,000. Finally, Simplicity Wealth LLC purchased a new stake in shares of Watsco in the 1st quarter valued at approximately $276,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

About Watsco

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.