Watsco, Inc. (NYSE:WSO) Receives Average Recommendation of "Hold" from Analysts

Watsco, Inc. (NYSE:WSO - Get Free Report) has received an average recommendation of "Hold" from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $486.67.

Several research firms have recently issued reports on WSO. UBS Group lowered their target price on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Morgan Stanley initiated coverage on shares of Watsco in a report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price target for the company. Mizuho set a $490.00 price target on shares of Watsco in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Robert W. Baird reduced their price objective on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th.

Watsco Stock Performance

Shares of WSO opened at $445.13 on Friday. The stock has a market cap of $18.03 billion, a PE ratio of 33.59 and a beta of 1.11. Watsco has a fifty-two week low of $430.20 and a fifty-two week high of $571.42. The firm's 50-day simple moving average is $473.33 and its two-hundred day simple moving average is $491.01.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.36). The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The company's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.17 EPS. Equities research analysts predict that Watsco will post 14.62 EPS for the current year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were issued a $3.00 dividend. This is an increase from Watsco's previous quarterly dividend of $2.70. This represents a $12.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date was Tuesday, April 15th. Watsco's dividend payout ratio is 92.24%.

Hedge Funds Weigh In On Watsco

Several large investors have recently made changes to their positions in the company. Opal Wealth Advisors LLC acquired a new position in Watsco during the first quarter worth $25,000. Manitou Investment Management Ltd. purchased a new stake in shares of Watsco in the first quarter valued at about $25,000. WPG Advisers LLC purchased a new stake in shares of Watsco in the first quarter valued at about $25,000. TCTC Holdings LLC grew its holdings in shares of Watsco by 115.4% in the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock valued at $28,000 after purchasing an additional 30 shares during the period. Finally, City Holding Co. purchased a new position in Watsco during the first quarter worth about $29,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

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.

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