Watsco, Inc. (NYSE:WSO) Receives $435.00 Average Target Price from Brokerages

Shares of Watsco, Inc. (NYSE:WSO) have been given a consensus recommendation of “Hold” by the ten research firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $435.00.

WSO has been the subject of several research reports. UBS Group cut their price objective on Watsco from $425.00 to $390.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. dropped their price target on Watsco from $400.00 to $360.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. William Blair restated a “market perform” rating on shares of Watsco in a research report on Wednesday, October 15th. Morgan Stanley decreased their price objective on Watsco from $505.00 to $460.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Watsco in a research report on Thursday, October 30th.

Watsco Trading Down 1.4%

Shares of NYSE WSO opened at $341.53 on Friday. The company’s 50-day moving average price is $365.92 and its 200 day moving average price is $410.95. Watsco has a 52 week low of $323.05 and a 52 week high of $552.32. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 26.68 and a beta of 0.93.

Watsco (NYSE:WSO) last announced its earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share (EPS) for the quarter. The company had revenue of $2.07 billion during the quarter. Watsco had a net margin of 7.04% and a return on equity of 16.48%. As a group, research analysts expect that Watsco will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Thursday, October 16th were issued a dividend of $3.00 per share. The ex-dividend date was Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.5%. Watsco’s payout ratio is 93.75%.

Institutional Trading of Watsco

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its holdings in shares of Watsco by 62.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company’s stock worth $238,329,000 after acquiring an additional 180,951 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in Watsco in the second quarter valued at approximately $331,000. Legal & General Group Plc increased its position in Watsco by 1.0% during the second quarter. Legal & General Group Plc now owns 108,889 shares of the construction company’s stock worth $48,088,000 after purchasing an additional 1,122 shares during the last quarter. Voya Investment Management LLC increased its position in Watsco by 23.1% during the first quarter. Voya Investment Management LLC now owns 16,218 shares of the construction company’s stock worth $8,244,000 after purchasing an additional 3,045 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in Watsco during the second quarter worth approximately $573,000. Institutional investors and hedge funds own 89.71% 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 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.