Watsco (NYSE:WSO) Issues Quarterly Earnings Results

Watsco (NYSE:WSO) issued its quarterly earnings data on Tuesday. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.13 by $0.24, Zacks reports. Watsco had a net margin of 6.99% and a return on equity of 17.77%.

Watsco Stock Performance

NYSE WSO opened at $485.21 on Tuesday. The stock has a 50-day simple moving average of $484.70 and a 200 day simple moving average of $491.17. Watsco has a twelve month low of $373.33 and a twelve month high of $571.41. The stock has a market capitalization of $19.59 billion, a PE ratio of 37.50 and a beta of 0.95.

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 paid a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.23%. Watsco’s payout ratio is presently 83.46%.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of analyst reports. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Robert W. Baird lowered their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $488.33.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.86% of the company’s stock.

About Watsco

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.