Watsco Inc. (NYSE:WSO) declared a quarterly dividend on Monday, October 3rd. Stockholders of record on Monday, October 17th will be paid a dividend of 1.05 per share on Monday, October 31st. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.96%. This is an increase from Watsco’s previous quarterly dividend of $0.85.
Watsco (NYSE:WSO) opened at 141.73 on Tuesday. Watsco has a one year low of $106.58 and a one year high of $149.99. The firm has a market cap of $4.62 billion, a price-to-earnings ratio of 28.72 and a beta of 0.94. The stock’s 50 day moving average price is $144.30 and its 200-day moving average price is $138.35.
Watsco (NYSE:WSO) last posted its earnings results on Friday, July 22nd. The company reported $1.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by $0.22. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.29 billion. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 earnings per share. Analysts forecast that Watsco will post $5.31 earnings per share for the current year.
Several research analysts have weighed in on the company. Seaport Global Securities lowered Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 target price on the stock. in a report on Monday, July 25th. Stifel Nicolaus reduced their target price on Watsco from $154.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, July 25th. Barclays PLC set a $113.00 target price on Watsco and gave the stock a “sell” rating in a report on Monday, July 25th. JPMorgan Chase & Co. cut their price target on Watsco from $131.00 to $128.00 and set a “neutral” rating on the stock in a report on Wednesday, July 27th. Finally, Zacks Investment Research upgraded Watsco from a “sell” rating to a “hold” rating in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. Watsco currently has a consensus rating of “Hold” and a consensus target price of $138.50.
Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in Watsco by 4.5% in the second quarter. Rhumbline Advisers now owns 48,463 shares of the company’s stock worth $6,818,000 after buying an additional 2,072 shares in the last quarter. Boston Financial Mangement LLC increased its stake in Watsco by 13.2% in the second quarter. Boston Financial Mangement LLC now owns 44,078 shares of the company’s stock worth $6,201,000 after buying an additional 5,133 shares in the last quarter. Raymond James & Associates increased its stake in Watsco by 9.8% in the second quarter. Raymond James & Associates now owns 3,898 shares of the company’s stock worth $548,000 after buying an additional 348 shares in the last quarter. Teachers Advisors Inc. increased its stake in Watsco by 16.3% in the second quarter. Teachers Advisors Inc. now owns 21,473 shares of the company’s stock worth $3,021,000 after buying an additional 3,012 shares in the last quarter. Finally, BlueMountain Capital Management LLC increased its stake in Watsco by 105.2% in the second quarter. BlueMountain Capital Management LLC now owns 16,305 shares of the company’s stock worth $2,294,000 after buying an additional 8,358 shares in the last quarter. 67.33% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Watsco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.