Watsco (NYSE:WSO) Price Target Raised to $460.00 at Loop Capital

Watsco (NYSE:WSO) had its target price hoisted by Loop Capital from $450.00 to $460.00 in a research note published on Thursday,Benzinga reports. They currently have a hold rating on the construction company’s stock.

WSO has been the topic of a number of other reports. Raymond James initiated coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating on the stock. Northcoast Research initiated coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Finally, Robert W. Baird lifted their price objective on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Watsco has a consensus rating of “Hold” and an average price target of $486.25.

Watsco Trading Up 0.1 %

WSO stock opened at $499.55 on Thursday. The firm has a 50 day moving average of $484.84 and a 200-day moving average of $493.04. The company has a market cap of $20.17 billion, a price-to-earnings ratio of 37.70 and a beta of 0.95. Watsco has a 12-month low of $387.58 and a 12-month high of $571.41.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.24. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Sell-side analysts forecast that Watsco will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a dividend yield of 2.16%. The ex-dividend date was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.86% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Watsco

Several large investors have recently added to or reduced their stakes in the business. FMR LLC increased its stake in shares of Watsco by 10.6% during the 3rd quarter. FMR LLC now owns 3,624,159 shares of the construction company’s stock valued at $1,782,651,000 after acquiring an additional 346,470 shares during the last quarter. Norges Bank purchased a new stake in Watsco in the fourth quarter valued at approximately $118,312,000. Lord Abbett & CO. LLC acquired a new position in Watsco during the fourth quarter worth approximately $104,533,000. Proficio Capital Partners LLC purchased a new position in Watsco during the fourth quarter worth approximately $63,603,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Watsco by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,371,535 shares of the construction company’s stock valued at $649,957,000 after purchasing an additional 118,713 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

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.