Watsco, Inc. (NYSE:WSO) Receives Average Rating of “Hold” from Analysts

Shares of Watsco, Inc. (NYSE:WSO) have received an average rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $486.67.

Several research firms recently issued reports on WSO. UBS Group cut their target price on Watsco from $475.00 to $455.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Morgan Stanley began coverage on Watsco in a research report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 target price on the stock. Loop Capital upped their target price on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. upped their target price on Watsco from $445.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, May 27th. Finally, Wall Street Zen raised Watsco from a “sell” rating to a “hold” rating in a research report on Friday, May 9th.

Watsco Trading Down 1.1%

Shares of WSO stock opened at $444.81 on Friday. The business’s fifty day simple moving average is $470.28 and its 200-day simple moving average is $488.97. The company has a market cap of $18.02 billion, a PE ratio of 33.57 and a beta of 1.06. Watsco has a 12-month low of $430.20 and a 12-month high of $571.42.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.36). The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.17 earnings per share. On average, equities analysts forecast that Watsco will post 14.62 earnings per share for the current year.

Watsco Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th were paid a dividend of $3.00 per share. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.70%. This is a positive change from Watsco’s previous quarterly dividend of $2.70. Watsco’s dividend payout ratio (DPR) is presently 92.24%.

Hedge Funds Weigh In On Watsco

A number of institutional investors have recently modified their holdings of WSO. Manitou Investment Management Ltd. purchased a new position in shares of Watsco during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Watsco during the 1st quarter valued at about $25,000. WPG Advisers LLC purchased a new position in shares of Watsco during the 1st quarter valued at about $25,000. TCTC Holdings LLC raised its stake in shares of Watsco by 115.4% during the 1st quarter. TCTC Holdings LLC now owns 56 shares of the construction company’s stock valued at $28,000 after buying an additional 30 shares during the last quarter. Finally, City Holding Co. purchased a new position in shares of Watsco during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors 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.