Watsco, Inc. (NYSE:WSO - Get Free Report) 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. The stock had previously closed at $431.21.
A number of other equities research analysts also recently commented on WSO. Mizuho set a $490.00 price target on shares of Watsco in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Robert W. Baird decreased their target price on shares of Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price target on Watsco from $445.00 to $460.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 27th. Finally, Morgan Stanley assumed coverage on Watsco in a research report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $485.83.
Check Out Our Latest Research Report on WSO
Institutional Investors Weigh In On Watsco
A number of institutional investors have recently added to or reduced their stakes in the stock. Principal Securities Inc. lifted its position in Watsco by 6.9% during the fourth quarter. Principal Securities Inc. now owns 373 shares of the construction company's stock valued at $177,000 after acquiring an additional 24 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of Watsco by 14.0% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,607 shares of the construction company's stock valued at $762,000 after acquiring an additional 197 shares during the last quarter. Global Retirement Partners LLC grew its position in Watsco by 71.0% during the 4th quarter. Global Retirement Partners LLC now owns 212 shares of the construction company's stock worth $100,000 after purchasing an additional 88 shares during the period. First Horizon Advisors Inc. raised its position in Watsco by 6.3% during the fourth quarter. First Horizon Advisors Inc. now owns 544 shares of the construction company's stock valued at $258,000 after acquiring an additional 32 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Watsco during the 4th quarter worth approximately $1,381,000. Institutional investors own 89.71% of the company's stock.
Watsco Price Performance
The company has a market cap of $17.01 billion, a PE ratio of 32.27 and a beta of 1.06. The business's fifty day simple moving average is $458.82 and its two-hundred day simple moving average is $481.28.
Watsco (NYSE:WSO - Get Free Report) last announced 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 analyst estimates of $1.66 billion. Watsco had a net margin of 6.98% and a return on equity of 17.13%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.17 EPS. As a group, analysts predict that Watsco, Inc. will post 14.62 EPS for the current year.
Watsco Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a $3.00 dividend. The ex-dividend date of this dividend was Tuesday, April 15th. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio is currently 92.24%.
About Watsco
(
Get Free Report)
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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