Watsco, Inc. (NYSE:WSO) Receives Average Recommendation of “Hold” from Analysts

Watsco, Inc. (NYSE:WSO) has received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $404.1429.

WSO has been the topic of several recent research reports. Zacks Research downgraded shares of Watsco from a “hold” rating to a “strong sell” rating in a research report on Tuesday, January 13th. Morgan Stanley dropped their price target on shares of Watsco from $460.00 to $370.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 14th. Wolfe Research set a $349.00 price objective on Watsco in a research report on Tuesday, December 9th. Mizuho decreased their price objective on Watsco from $400.00 to $370.00 and set a “neutral” rating for the company in a report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Watsco in a research note on Thursday, October 30th.

Watsco Stock Performance

Shares of WSO opened at $427.47 on Thursday. Watsco has a 1 year low of $323.05 and a 1 year high of $535.40. The company has a market cap of $17.34 billion, a price-to-earnings ratio of 33.40 and a beta of 1.04. The firm has a fifty day moving average of $368.62 and a 200-day moving average of $379.95.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were issued a $3.00 dividend. The ex-dividend date was Friday, January 16th. This represents a $12.00 annualized dividend and a dividend yield of 2.8%. Watsco’s dividend payout ratio (DPR) is 93.75%.

Institutional Investors Weigh In On Watsco

A number of institutional investors have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC bought a new stake in Watsco in the second quarter worth about $26,000. Torren Management LLC acquired a new position in shares of Watsco in the 4th quarter worth approximately $26,000. SJS Investment Consulting Inc. raised its holdings in shares of Watsco by 2,366.7% in the 3rd quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock worth $30,000 after purchasing an additional 71 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Watsco by 242.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock worth $33,000 after purchasing an additional 51 shares in the last quarter. Finally, Chilton Capital Management LLC acquired a new stake in Watsco during the second quarter valued at approximately $34,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.