Watsco, Inc. (NYSE:WSO) Receives Consensus Rating of "Hold" from Analysts

Watsco, Inc. (NYSE:WSO - Get Free Report) has received an average recommendation of "Hold" from the seven analysts that are presently covering the firm, 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 objective among brokers that have issued a report on the stock in the last year is $486.67.

Several research firms recently commented on WSO. UBS Group dropped their target price on Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Robert W. Baird dropped 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. Loop Capital increased their price objective on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a report on Thursday, February 27th. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th.

Watsco Trading Up 1.1%

Shares of NYSE WSO traded up $4.95 during midday trading on Friday, reaching $449.43. 242,949 shares of the stock were exchanged, compared to its average volume of 257,109. The stock has a 50 day moving average price of $470.94 and a 200-day moving average price of $489.27. The company has a market capitalization of $18.21 billion, a P/E ratio of 33.92 and a beta of 1.06. Watsco has a 52-week low of $430.20 and a 52-week high of $571.42.

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

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Tuesday, April 15th. This is an increase from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is currently 92.24%.

Institutional Trading of Watsco

Institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC boosted its position in shares of Watsco by 3.1% in the first quarter. Inspire Investing LLC now owns 4,278 shares of the construction company's stock worth $2,175,000 after buying an additional 127 shares during the period. Modern Wealth Management LLC boosted its holdings in Watsco by 16.8% in the 1st quarter. Modern Wealth Management LLC now owns 744 shares of the construction company's stock worth $378,000 after acquiring an additional 107 shares during the period. Strs Ohio purchased a new position in Watsco in the 1st quarter worth approximately $1,242,000. Carderock Capital Management Inc. lifted its position in shares of Watsco by 7.7% during the first quarter. Carderock Capital Management Inc. now owns 13,848 shares of the construction company's stock worth $7,039,000 after purchasing an additional 996 shares in the last quarter. Finally, Advisors Capital Management LLC boosted its stake in shares of Watsco by 0.4% in the first quarter. Advisors Capital Management LLC now owns 16,570 shares of the construction company's stock valued at $8,423,000 after purchasing an additional 70 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

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.