Watsco (NYSE:WSO) Reaches New 1-Year High at $452.89

Watsco, Inc. (NYSE:WSO - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $452.89 and last traded at $451.76, with a volume of 194368 shares trading hands. The stock had previously closed at $447.72.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Robert W. Baird lifted their price target on Watsco from $420.00 to $460.00 and gave the company an "outperform" rating in a research report on Thursday, April 25th. Stephens reiterated an "overweight" rating and issued a $500.00 price target on shares of Watsco in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Watsco currently has an average rating of "Hold" and an average target price of $404.25.

Watsco Stock Performance

The company has a 50-day moving average of $415.08 and a 200 day moving average of $400.56. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $17.81 billion, a PE ratio of 34.67 and a beta of 0.90.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results on Wednesday, April 24th. The construction company reported $2.17 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 previous year, the firm earned $2.83 earnings per share. Watsco's quarterly revenue was up .9% compared to the same quarter last year. Equities research analysts predict that Watsco, Inc. will post 14.25 EPS for the current year.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were given a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.40%. This is a boost from Watsco's previous quarterly dividend of $2.45. The ex-dividend date was Friday, April 12th. Watsco's payout ratio is presently 83.08%.

Hedge Funds Weigh In On Watsco

Hedge funds and other institutional investors have recently modified their holdings of the company. Benchmark Financial Wealth Advisors LLC purchased a new position in shares of Watsco in the 4th quarter worth about $536,000. Louisiana State Employees Retirement System purchased a new position in shares of Watsco in the 4th quarter worth about $4,070,000. Wellington Management Group LLP boosted its holdings in shares of Watsco by 2.6% in the 3rd quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company's stock worth $245,013,000 after purchasing an additional 16,589 shares in the last quarter. Mackenzie Financial Corp purchased a new position in shares of Watsco in the 4th quarter worth about $2,516,000. Finally, Hamlin Capital Management LLC boosted its holdings in shares of Watsco by 5.7% in the 4th quarter. Hamlin Capital Management LLC now owns 295,833 shares of the construction company's stock worth $126,756,000 after purchasing an additional 16,006 shares in the last quarter. 89.71% of the stock is currently 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.