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

Shares of Watsco, Inc. (NYSE:WSO - Get Free Report) have been given a consensus rating of "Hold" by the eight brokerages that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $472.50.

Several equities analysts recently issued reports on WSO shares. Weiss Ratings reissued a "hold (c+)" rating on shares of Watsco in a research note on Wednesday. Morgan Stanley reduced their price objective on shares of Watsco from $505.00 to $460.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Finally, UBS Group reduced their price objective on shares of Watsco from $450.00 to $425.00 and set a "neutral" rating on the stock in a research note on Tuesday, September 23rd.

Hedge Funds Weigh In On Watsco

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Princeton Global Asset Management LLC increased its position in Watsco by 30.6% during the third quarter. Princeton Global Asset Management LLC now owns 19,146 shares of the construction company's stock worth $7,741,000 after purchasing an additional 4,487 shares during the last quarter. Baskin Financial Services Inc. increased its position in Watsco by 2.7% during the third quarter. Baskin Financial Services Inc. now owns 71,189 shares of the construction company's stock worth $28,782,000 after purchasing an additional 1,845 shares during the last quarter. Buckhead Capital Management LLC increased its position in Watsco by 2.9% during the third quarter. Buckhead Capital Management LLC now owns 10,737 shares of the construction company's stock worth $4,341,000 after purchasing an additional 299 shares during the last quarter. Hilltop National Bank increased its position in Watsco by 7.1% during the third quarter. Hilltop National Bank now owns 454 shares of the construction company's stock worth $184,000 after purchasing an additional 30 shares during the last quarter. Finally, Balefire LLC acquired a new position in Watsco during the third quarter worth approximately $363,000. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Stock Performance

Shares of WSO opened at $380.51 on Friday. The company has a market capitalization of $15.43 billion, a price-to-earnings ratio of 29.18 and a beta of 0.94. The company's 50 day simple moving average is $405.31 and its 200 day simple moving average is $446.29. Watsco has a 1 year low of $378.35 and a 1 year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.84 by ($0.32). The firm had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.24 billion. Watsco had a net margin of 7.08% and a return on equity of 16.96%. The business's quarterly revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $4.49 EPS. Equities analysts expect that Watsco will post 14.62 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Thursday, October 16th will be given a dividend of $3.00 per share. The ex-dividend date of this dividend is Thursday, October 16th. This represents a $12.00 annualized dividend and a yield of 3.2%. Watsco's dividend payout ratio is 92.02%.

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.

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