Brokerages Set Watsco, Inc. (NYSE:WSO) Price Target at $433.71

Watsco, Inc. (NYSE:WSO) has received a consensus rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $433.71.

WSO has been the subject of a number of research reports. Robert W. Baird boosted their price target on shares of Watsco from $460.00 to $522.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

Watsco Stock Up 1.2 %

Watsco stock opened at $476.71 on Monday. The stock’s fifty day moving average is $478.11 and its two-hundred day moving average is $458.65. The stock has a market cap of $19.23 billion, a PE ratio of 36.67 and a beta of 0.88. Watsco has a 1-year low of $338.58 and a 1-year high of $520.41. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, July 30th. The construction company reported $4.49 earnings per share for the quarter, missing the consensus estimate of $4.70 by ($0.21). The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.19 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. Watsco’s revenue was up 5.0% on a year-over-year basis. During the same period last year, the business posted $4.42 EPS. On average, sell-side analysts expect that Watsco will post 13.83 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Tuesday, July 16th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend was Tuesday, July 16th. Watsco’s dividend payout ratio is presently 83.08%.

Hedge Funds Weigh In On Watsco

Institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Watsco in the 4th quarter worth $102,958,000. Motley Fool Asset Management LLC lifted its position in Watsco by 263.6% in the first quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock valued at $138,234,000 after purchasing an additional 231,987 shares during the period. Swedbank AB purchased a new stake in Watsco in the 1st quarter valued at approximately $90,714,000. Vanguard Group Inc. increased its position in Watsco by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after purchasing an additional 146,305 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Watsco by 50.9% during the 1st quarter. Jennison Associates LLC now owns 185,633 shares of the construction company’s stock worth $80,188,000 after buying an additional 62,593 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

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.