Watsco, Inc. (NYSE:WSO) Given Consensus Recommendation of “Hold” by Analysts

Watsco, Inc. (NYSE:WSO) has been given a consensus recommendation of “Hold” by the six analysts that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $486.25.

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

Institutional Investors Weigh In On Watsco

Several large investors have recently made changes to their positions in the business. Rialto Wealth Management LLC bought a new position in Watsco during the fourth quarter valued at about $31,000. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco during the 4th quarter valued at approximately $36,000. Quarry LP increased its stake in shares of Watsco by 57.9% during the 3rd quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after purchasing an additional 33 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Watsco in the 3rd quarter worth approximately $48,000. Finally, Atala Financial Inc purchased a new position in Watsco in the fourth quarter valued at approximately $49,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Trading Down 2.6 %

Shares of WSO stock opened at $500.42 on Monday. The firm has a fifty day simple moving average of $496.12 and a two-hundred day simple moving average of $498.74. Watsco has a 12 month low of $396.82 and a 12 month high of $571.42. The firm has a market capitalization of $20.22 billion, a PE ratio of 37.77 and a beta of 0.92.

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

Watsco Announces Dividend

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

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.