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

Shares of Watsco, Inc. (NYSE:WSO) have earned a consensus rating of “Hold” from the six research firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $486.25.

A number of analysts recently issued reports on the company. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating on the stock. Robert W. Baird increased their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Loop Capital boosted their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research note on Thursday, February 27th.

Institutional Investors Weigh In On Watsco

A number of institutional investors and hedge funds have recently bought and sold shares of WSO. Rialto Wealth Management LLC bought a new position in shares of Watsco in the 4th quarter worth $31,000. Wingate Wealth Advisors Inc. bought a new position in Watsco in the fourth quarter valued at $36,000. Quarry LP raised its position in Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock valued at $44,000 after purchasing an additional 33 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Watsco during the third quarter valued at about $48,000. Finally, Atala Financial Inc bought a new stake in Watsco during the fourth quarter worth about $49,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Stock Down 2.6 %

NYSE WSO opened at $500.42 on Monday. The firm has a market cap of $20.22 billion, a P/E ratio of 37.77 and a beta of 0.92. The company’s 50 day moving average is $496.12 and its 200-day moving average is $498.74. Watsco has a 12-month low of $396.82 and a 12-month high of $571.42.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Equities analysts expect that Watsco will post 14.62 EPS for the current year.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is 81.51%.

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.