Watsco, Inc. (NYSE:WSO) Receives $492.00 Consensus PT from Analysts

Watsco, Inc. (NYSE:WSO) has received an average rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $492.00.

A number of research firms have recently weighed in on WSO. Morgan Stanley assumed coverage on Watsco in a research report on Monday, April 14th. They set an “equal weight” rating and a $515.00 price objective on the stock. Robert W. Baird upped their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Loop Capital lifted their target price 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.

Watsco Trading Up 2.0 %

WSO opened at $504.68 on Friday. Watsco has a 1-year low of $407.00 and a 1-year high of $571.42. The firm’s 50 day simple moving average is $501.79 and its two-hundred day simple moving average is $499.61. The company has a market capitalization of $20.39 billion, a PE ratio of 38.09 and a beta of 1.00.

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

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Tuesday, April 15th. This is an increase from Watsco’s previous quarterly dividend of $2.70. Watsco’s payout ratio is 90.57%.

Hedge Funds Weigh In On Watsco

Several institutional investors have recently bought and sold shares of WSO. Opal Wealth Advisors LLC purchased a new stake in Watsco in the 1st quarter worth $25,000. Manitou Investment Management Ltd. bought a new stake in shares of Watsco in the first quarter worth about $25,000. City Holding Co. bought a new stake in shares of Watsco in the first quarter worth about $29,000. Rialto Wealth Management LLC purchased a new stake in shares of Watsco in the fourth quarter worth about $31,000. Finally, ST Germain D J Co. Inc. boosted its stake in Watsco by 260.0% during the first quarter. ST Germain D J Co. Inc. now owns 72 shares of the construction company’s stock valued at $37,000 after buying an additional 52 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.

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.