Watsco, Inc. (NYSE:WSO - Get Free Report)'s share price reached a new 52-week low during trading on Wednesday after UBS Group lowered their price target on the stock from $455.00 to $450.00. UBS Group currently has a neutral rating on the stock. Watsco traded as low as $418.89 and last traded at $419.39, with a volume of 168172 shares traded. The stock had previously closed at $431.21.
Other equities analysts have also issued reports about the company. Mizuho set a $490.00 target price on Watsco in a research report on Thursday, April 24th. Morgan Stanley started coverage on Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 27th. Robert W. Baird lowered their price objective on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen raised Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Watsco has an average rating of "Hold" and an average price target of $485.83.
Get Our Latest Analysis on Watsco
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Watsco by 89,376.0% during the 1st quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company's stock worth $242,867,000 after buying an additional 477,268 shares during the period. Norges Bank acquired a new stake in Watsco during the 4th quarter worth about $118,312,000. Lord Abbett & CO. LLC purchased a new stake in Watsco in the 4th quarter worth about $104,533,000. Goldman Sachs Group Inc. lifted its stake in Watsco by 62.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company's stock worth $238,329,000 after acquiring an additional 180,951 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Watsco in the 4th quarter worth about $63,603,000. Institutional investors own 89.71% of the company's stock.
Watsco Stock Performance
The firm has a 50 day moving average of $454.41 and a 200-day moving average of $479.70. The stock has a market capitalization of $17.65 billion, a PE ratio of 33.48 and a beta of 1.06.
Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). Watsco had a net margin of 6.98% and a return on equity of 17.13%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the previous year, the business posted $2.17 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts predict that Watsco, Inc. 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. Shareholders of record on Tuesday, April 15th were issued a $3.00 dividend. The ex-dividend date was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a yield of 2.75%. This is a positive change from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is 92.24%.
About Watsco
(
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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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