Watsco (NYSE:WSO) Hits New 12-Month High at $482.30

Shares of Watsco, Inc. (NYSE:WSO - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $482.30 and last traded at $481.40, with a volume of 6768 shares trading hands. The stock had previously closed at $479.26.

Analyst Upgrades and Downgrades

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

Watsco Stock Performance

The company has a market capitalization of $18.95 billion, a PE ratio of 36.87 and a beta of 0.86. The company has a 50 day moving average of $427.64 and a two-hundred day moving average of $406.65. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.09). The firm had revenue of $1.56 billion during the quarter, compared to analysts' expectations of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. Watsco's revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $2.83 earnings per share. As a group, equities research analysts predict that Watsco, Inc. will post 14.26 earnings per share for the current year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.25%. This is a boost from Watsco's previous quarterly dividend of $2.45. The ex-dividend date was Friday, April 12th. Watsco's dividend payout ratio is presently 83.08%.

Insider Buying and Selling

In other news, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 13.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Wetzel Investment Advisors Inc. bought a new position in Watsco in the fourth quarter valued at about $25,000. First PREMIER Bank bought a new position in Watsco in the first quarter valued at about $25,000. Contravisory Investment Management Inc. bought a new position in Watsco in the fourth quarter valued at about $26,000. Cullen Frost Bankers Inc. bought a new position in Watsco in the fourth quarter valued at about $28,000. Finally, Rise Advisors LLC bought a new position in Watsco in the fourth quarter valued at about $30,000. 89.71% of the stock is owned by 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.