Brokerages Set Watsco, Inc. (NYSE:WSO) Price Target at $495.00

Watsco, Inc. (NYSE:WSO) has received an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $486.25.

A number of analysts have weighed in on the company. Raymond James assumed coverage on Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Loop Capital upped their target price on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Robert W. Baird upped their target price on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Finally, Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company.

Watsco Stock Performance

WSO opened at $501.81 on Thursday. The stock has a market cap of $20.26 billion, a price-to-earnings ratio of 37.87 and a beta of 0.95. The stock’s 50 day moving average price is $485.38 and its 200-day moving average price is $493.80. Watsco has a one year low of $388.47 and a one year high of $571.41.

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

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.15%. Watsco’s dividend payout ratio is presently 81.51%.

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.86% of the company’s stock.

Hedge Funds Weigh In On Watsco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WSO. FMR LLC raised its stake in Watsco by 10.6% in the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock worth $1,782,651,000 after acquiring an additional 346,470 shares during the last quarter. Norges Bank acquired a new stake in Watsco during the 4th quarter worth about $118,312,000. Lord Abbett & CO. LLC acquired a new stake in Watsco during the 4th quarter worth about $104,533,000. Proficio Capital Partners LLC acquired a new stake in Watsco during the 4th quarter worth about $63,603,000. Finally, Charles Schwab Investment Management Inc. grew its position in Watsco by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock worth $649,957,000 after purchasing an additional 118,713 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

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.