Q3 2024 EPS Estimates for Watsco, Inc. (NYSE:WSO) Boosted by Zacks Research

Watsco, Inc. (NYSE:WSO - Free Report) - Zacks Research upped their Q3 2024 earnings per share (EPS) estimates for shares of Watsco in a report released on Wednesday, May 15th. Zacks Research analyst R. Department now anticipates that the construction company will post earnings per share of $4.82 for the quarter, up from their previous forecast of $4.80. The consensus estimate for Watsco's current full-year earnings is $14.26 per share. Zacks Research also issued estimates for Watsco's Q1 2025 earnings at $2.73 EPS and Q4 2025 earnings at $3.22 EPS.

A number of other equities research analysts also recently issued reports 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 raised their price target on Watsco from $420.00 to $460.00 and gave the company an "outperform" rating in a report on Thursday, April 25th. One investment 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $404.25.

Watsco Price Performance

NYSE:WSO traded down $12.02 during trading hours on Thursday, hitting $470.68. The stock had a trading volume of 273,849 shares, compared to its average volume of 339,918. The company has a 50 day simple moving average of $434.20 and a two-hundred day simple moving average of $409.55. The firm has a market capitalization of $18.59 billion, a price-to-earnings ratio of 36.21 and a beta of 0.86. 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 has a one year low of $315.17 and a one year high of $488.70.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts' consensus estimates of $2.26 by ($0.09). The firm had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. Watsco's revenue was up .9% compared to the same quarter last year. During the same quarter last year, the business posted $2.83 earnings per share.

Hedge Funds Weigh In On Watsco

A number of large investors have recently bought and sold shares of WSO. Shaker Investments LLC OH grew its stake in shares of Watsco by 0.3% in the first quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company's stock worth $3,267,000 after purchasing an additional 24 shares during the last quarter. Hartford Financial Management Inc. grew its position in shares of Watsco by 53.1% in the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company's stock worth $32,000 after buying an additional 26 shares during the last quarter. Advisor OS LLC increased its stake in shares of Watsco by 1.1% during the third quarter. Advisor OS LLC now owns 2,693 shares of the construction company's stock valued at $1,017,000 after buying an additional 28 shares during the period. Raleigh Capital Management Inc. raised its holdings in shares of Watsco by 35.0% during the third quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company's stock valued at $41,000 after acquiring an additional 28 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its stake in Watsco by 53.8% in the fourth quarter. Lindbrook Capital LLC now owns 80 shares of the construction company's stock worth $34,000 after acquiring an additional 28 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John Alexander Macdonald sold 5,334 shares of the business's stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Barry S. Logan sold 774 shares of the business's stock in a transaction on Friday, May 10th. The stock was sold at an average price of $473.85, for a total transaction of $366,759.90. Following the completion of the sale, the executive vice president now directly owns 1,770 shares of the company's stock, valued at $838,714.50. The disclosure for this sale can be found here. Corporate insiders own 13.30% of the company's stock.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $2.70 dividend. This is a boost from Watsco's previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Friday, April 12th. Watsco's dividend payout ratio is presently 83.08%.

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.