Watsco, Inc. (NYSE:WSO) Receives $404.25 Average PT from Analysts

Watsco, Inc. (NYSE:WSO) has been given a consensus rating of “Hold” by the seven ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $404.25.

Several analysts recently issued reports on the company. Stephens reiterated an “overweight” rating and issued a $500.00 price target on shares of Watsco in a report on Thursday, April 25th. Robert W. Baird boosted their price target on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th.

Watsco Stock Up 3.3 %

Shares of NYSE:WSO opened at $477.11 on Wednesday. The stock has a 50-day simple moving average of $471.30 and a 200-day simple moving average of $430.51. The stock has a market capitalization of $19.23 billion, a P/E ratio of 36.70 and a beta of 0.88. Watsco has a 1 year low of $337.58 and a 1 year high of $493.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the prior year, the firm earned $2.83 earnings per share. Watsco’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Watsco will post 14.26 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Tuesday, July 16th. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 774 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the transaction, the executive vice president now directly owns 1,770 shares in the company, valued at approximately $838,714.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Watsco news, EVP Barry S. Logan sold 774 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $473.85, for a total transaction of $366,759.90. Following the transaction, the executive vice president now owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The disclosure for this sale can be found here. Insiders own 12.86% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Wetzel Investment Advisors Inc. acquired a new stake in Watsco during the fourth quarter worth about $25,000. First PREMIER Bank bought a new position in shares of Watsco during the first quarter valued at approximately $25,000. EntryPoint Capital LLC lifted its holdings in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock worth $25,000 after purchasing an additional 29 shares during the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Watsco in the 4th quarter worth approximately $26,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Watsco during the 4th quarter valued at approximately $28,000. 89.71% of the stock is currently owned by institutional investors.

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.