Watsco Inc. (NYSE:WSO) was upgraded by Longbow Research from a “neutral” rating to a “buy” rating in a note issued to investors on Friday. The firm currently has a $170.00 price target on the stock. Longbow Research’s target price points to a potential upside of 19.55% from the stock’s previous close.
Other analysts have also recently issued research reports about the stock. Stifel Nicolaus reduced their price objective on shares of Watsco from $154.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 25th. Zacks Investment Research cut shares of Watsco from a “buy” rating to a “hold” rating in a research note on Monday, June 27th. Barclays PLC set a $113.00 price objective on shares of Watsco and gave the stock a “sell” rating in a research note on Monday, July 25th. Seaport Global Securities cut shares of Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price objective on the stock. in a research note on Monday, July 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Watsco from $131.00 to $128.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Watsco currently has a consensus rating of “Hold” and an average price target of $141.36.
Shares of Watsco (NYSE:WSO) opened at 142.20 on Friday. Watsco has a 1-year low of $106.58 and a 1-year high of $149.99. The firm has a market cap of $4.63 billion, a P/E ratio of 28.81 and a beta of 0.94. The firm has a 50 day moving average price of $143.22 and a 200 day moving average price of $139.02.
Watsco (NYSE:WSO) last announced its quarterly earnings results on Friday, July 22nd. The company reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by $0.22. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.29 billion. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The firm’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter last year, the company posted $1.85 earnings per share. Analysts anticipate that Watsco will post $5.31 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 17th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $4.20 dividend on an annualized basis and a yield of 2.95%. This is a boost from Watsco’s previous quarterly dividend of $0.85. Watsco’s dividend payout ratio is 85.37%.
A number of hedge funds have recently modified their holdings of the stock. First Financial Corp IN purchased a new stake in shares of Watsco during the third quarter worth approximately $150,000. Oregon Public Employees Retirement Fund boosted its stake in shares of Watsco by 3.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 8,885 shares of the company’s stock worth $1,252,000 after buying an additional 278 shares during the period. Foundry Partners LLC boosted its stake in shares of Watsco by 0.6% in the third quarter. Foundry Partners LLC now owns 1,660 shares of the company’s stock worth $234,000 after buying an additional 10 shares during the period. Washington Trust Bank boosted its position in Watsco by 1.9% in the third quarter. Washington Trust Bank now owns 851 shares of the company’s stock worth $120,000 after buying an additional 16 shares during the period. Finally, Mason Street Advisors LLC bought a new position in Watsco during the second quarter worth about $1,655,000. 67.31% of the stock is currently owned by institutional investors and hedge funds.
Watsco Company Profile
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.
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