Watsco (NYSE:WSO) Earns Overweight Rating from Stephens

Stephens reiterated their overweight rating on shares of Watsco (NYSE:WSO) in a research report released on Thursday, Benzinga reports. Stephens currently has a $500.00 price objective on the construction company’s stock.

Separately, Robert W. Baird raised their price target 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 given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $404.25.

Watsco Stock Down 0.2 %

NYSE:WSO opened at $443.21 on Thursday. The firm has a market cap of $17.51 billion, a P/E ratio of 34.09 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 2.92. Watsco has a fifty-two week low of $315.17 and a fifty-two week high of $451.29. The firm has a 50-day simple moving average of $412.36 and a two-hundred day simple moving average of $399.77.

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

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a $2.70 dividend. This is an increase from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.44%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Hedge Funds Weigh In On Watsco

Institutional investors and hedge funds have recently made changes to their positions in the business. Wetzel Investment Advisors Inc. purchased a new position in shares of Watsco in the fourth quarter worth approximately $25,000. First PREMIER Bank purchased a new position in shares of Watsco in the first quarter worth approximately $25,000. Contravisory Investment Management Inc. purchased a new position in shares of Watsco in the fourth quarter worth approximately $26,000. Cullen Frost Bankers Inc. bought a new stake in Watsco during the 4th quarter worth approximately $28,000. Finally, Rise Advisors LLC bought a new stake in Watsco during the 4th quarter worth approximately $30,000. 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.