Watsco, Inc. (NYSE:WSO) declared a quarterly dividend on Monday, October 2nd, RTT News reports. Shareholders of record on Monday, October 16th will be given a dividend of 1.25 per share by the construction company on Tuesday, October 31st. This represents a $5.00 dividend on an annualized basis and a yield of 3.10%.

Watsco has increased its dividend by an average of 46.3% per year over the last three years and has raised its dividend every year for the last 3 years. Watsco has a dividend payout ratio of 87.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Watsco to earn $6.41 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 78.0%.

Shares of Watsco (WSO) opened at 161.07 on Monday. The stock has a market cap of $5.26 billion, a PE ratio of 29.78 and a beta of 0.84. Watsco has a 12 month low of $128.60 and a 12 month high of $161.86. The stock has a 50 day moving average of $148.82 and a 200 day moving average of $146.20.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.05. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.82 earnings per share. On average, equities analysts anticipate that Watsco will post $5.78 earnings per share for the current fiscal year.

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A number of equities analysts recently issued reports on WSO shares. BidaskClub upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Stifel Nicolaus restated a “buy” rating and set a $176.00 price target (up from $163.00) on shares of Watsco in a research report on Friday, June 23rd. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $173.00 price target on the stock in a research report on Tuesday, June 27th. Wolfe Research began coverage on shares of Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $141.00 price target (up from $139.00) on shares of Watsco in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Watsco currently has a consensus rating of “Hold” and an average target price of $161.17.

Watsco Company Profile

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

Dividend History for Watsco (NYSE:WSO)

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