Watsco (NYSE:WSO) Sets New 12-Month High at $450.56

Watsco, Inc. (NYSE:WSO - Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $450.56 and last traded at $449.36, with a volume of 142526 shares trading hands. The stock had previously closed at $413.57.

Analyst Upgrades and Downgrades

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

Watsco Trading Up 6.5 %

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 stock has a market capitalization of $17.40 billion, a P/E ratio of 32.25 and a beta of 0.90. The firm's 50-day simple moving average is $410.19 and its 200 day simple moving average is $399.13.

Watsco (NYSE:WSO - Get Free Report) last released its earnings results on Tuesday, February 13th. The construction company reported $2.06 EPS for the quarter, missing analysts' consensus estimates of $2.50 by ($0.44). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. The firm's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.35 earnings per share. Equities research analysts anticipate that Watsco, Inc. will post 14.19 EPS for the current fiscal year.

Watsco Increases Dividend

The business 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 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date is Friday, April 12th. This is an increase from Watsco's previous quarterly dividend of $2.45. Watsco's dividend payout ratio is 79.06%.

Institutional Investors Weigh In On Watsco

Several institutional investors have recently made changes to their positions in WSO. Wetzel Investment Advisors Inc. bought a new stake in Watsco in the fourth quarter worth $25,000. First PREMIER Bank acquired a new position in shares of Watsco during the 1st quarter valued at about $25,000. Contravisory Investment Management Inc. bought a new position in shares of Watsco in the 4th quarter valued at approximately $26,000. Cullen Frost Bankers Inc. acquired a new stake in Watsco in the 4th quarter worth approximately $28,000. Finally, Rise Advisors LLC bought a new stake in Watsco during the fourth quarter worth approximately $30,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

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.