Watsco (NYSE:WSO) Sets New 1-Year Low - Here's What Happened

Shares of Watsco, Inc. (NYSE:WSO - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $426.89 and last traded at $429.21, with a volume of 82020 shares traded. The stock had previously closed at $431.99.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Mizuho set a $490.00 price objective on Watsco in a research report on Thursday, April 24th. UBS Group reduced their price objective on shares of Watsco from $475.00 to $455.00 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Robert W. Baird lowered their price target on Watsco from $560.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. Finally, Morgan Stanley assumed coverage on shares of Watsco in a report on Monday, April 14th. They set an "equal weight" rating and a $515.00 price target for the company. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $486.67.

Watsco Stock Performance

The company has a market cap of $17.41 billion, a P/E ratio of 32.43 and a beta of 1.06. The business has a fifty day simple moving average of $469.10 and a 200 day simple moving average of $486.34.

Watsco (NYSE:WSO - Get Free Report) last posted 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). The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.66 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm's revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.17 earnings per share. Equities research analysts expect that Watsco, Inc. will post 14.62 EPS for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Tuesday, April 15th were issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from Watsco's previous quarterly dividend of $2.70. The ex-dividend date was Tuesday, April 15th. Watsco's payout ratio is presently 92.24%.

Hedge Funds Weigh In On Watsco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board grew its stake in shares of Watsco by 11.2% in the 4th quarter. New Mexico Educational Retirement Board now owns 7,118 shares of the construction company's stock valued at $3,373,000 after buying an additional 718 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Watsco by 1.5% during the 4th quarter. Rhumbline Advisers now owns 106,391 shares of the construction company's stock worth $50,418,000 after acquiring an additional 1,601 shares during the period. Principal Securities Inc. raised its stake in Watsco by 6.9% during the fourth quarter. Principal Securities Inc. now owns 373 shares of the construction company's stock worth $177,000 after acquiring an additional 24 shares in the last quarter. Strategic Financial Concepts LLC bought a new position in shares of Watsco in the fourth quarter valued at approximately $11,337,000. Finally, CIBC Asset Management Inc lifted its position in Watsco by 4.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,170 shares of the construction company's stock worth $1,028,000 after buying an additional 87 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

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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