Watsco (NYSE:WSO) Sets New 1-Year High at $450.56

Watsco, Inc. (NYSE:WSO)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $450.56 and last traded at $449.36, with a volume of 142526 shares changing hands. The stock had previously closed at $413.57.

Analyst Ratings Changes

Separately, Robert W. Baird increased their price target on shares of Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $398.00.

Watsco Price Performance

The firm’s 50-day moving average is $409.13 and its 200-day moving average is $398.83. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $17.39 billion, a PE ratio of 32.36 and a beta of 0.90.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.44). Watsco had a return on equity of 21.36% and a net margin of 7.36%. The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter last year, the company posted $2.35 EPS. Watsco’s revenue for the quarter was up 1.4% compared to the same quarter last year. Equities analysts predict that Watsco, Inc. will post 14.19 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.45%. This is an increase from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date is Friday, April 12th. Watsco’s dividend payout ratio (DPR) is presently 79.06%.

Hedge Funds Weigh In On Watsco

Institutional investors and hedge funds have recently made changes to their positions in the business. Hartford Financial Management Inc. increased its holdings in shares of Watsco by 53.1% during the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after acquiring an additional 26 shares in the last quarter. Advisor OS LLC raised its stake in Watsco by 1.1% in the 3rd quarter. Advisor OS LLC now owns 2,693 shares of the construction company’s stock valued at $1,017,000 after purchasing an additional 28 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in Watsco by 35.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock valued at $41,000 after buying an additional 28 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Watsco by 53.8% in the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock valued at $34,000 after buying an additional 28 shares in the last quarter. Finally, Lincoln National Corp grew its holdings in shares of Watsco by 4.0% during the 4th quarter. Lincoln National Corp now owns 728 shares of the construction company’s stock worth $312,000 after purchasing an additional 28 shares during the period. 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.