Watsco Inc (WSO) Receives Average Rating of “Hold” from Brokerages
Watsco Inc (NYSE:WSO) has earned a consensus rating of “Hold” from the ten ratings firms that are presently covering the firm. Three analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $148.57.
Several equities research analysts recently commented on the company. Stifel Nicolaus raised their target price on Watsco from $152.00 to $163.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Seaport Global Securities upgraded Watsco from a “neutral” rating to a “buy” rating and raised their price objective for the company from $145.00 to $160.00 in a research note on Wednesday, April 26th. Finally, Zacks Investment Research lowered Watsco from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th.
In other Watsco news, major shareholder Technologies Corp /De/ United sold 4,235,685 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $140.68, for a total transaction of $595,876,165.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 13.75% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Cambridge Trust Co. raised its position in shares of Watsco by 6.1% in the first quarter. Cambridge Trust Co. now owns 48,904 shares of the construction company’s stock valued at $7,002,000 after buying an additional 2,795 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of Watsco during the first quarter valued at approximately $450,000. Point72 Asset Management L.P. purchased a new position in shares of Watsco during the first quarter valued at approximately $10,796,000. Driehaus Capital Management LLC raised its position in shares of Watsco by 15.5% in the first quarter. Driehaus Capital Management LLC now owns 10,623 shares of the construction company’s stock valued at $1,521,000 after buying an additional 1,426 shares during the last quarter. Finally, Credit Suisse AG raised its position in shares of Watsco by 44.4% in the first quarter. Credit Suisse AG now owns 52,054 shares of the construction company’s stock valued at $7,452,000 after buying an additional 16,008 shares during the last quarter. Institutional investors own 66.86% of the company’s stock.
Watsco (NYSE:WSO) traded up 0.067% during trading on Tuesday, reaching $141.315. The company’s stock had a trading volume of 138,044 shares. The company’s 50-day moving average is $139.17 and its 200-day moving average is $146.60. The company has a market capitalization of $4.61 billion, a P/E ratio of 27.445 and a beta of 0.76. Watsco has a 1-year low of $128.60 and a 1-year high of $159.55.
Watsco (NYSE:WSO) last announced its earnings results on Tuesday, April 25th. The construction company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.80 by $0.13. The company had revenue of $872.10 million for the quarter, compared to analysts’ expectations of $877.45 million. Watsco had a net margin of 4.10% and a return on equity of 13.79%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. Equities analysts anticipate that Watsco will post $5.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, April 14th were paid a dividend of $1.05 per share. The ex-dividend date of this dividend was Tuesday, April 11th. This represents a $4.20 dividend on an annualized basis and a yield of 2.97%. Watsco’s dividend payout ratio (DPR) is presently 83.00%.
Watsco Company Profile
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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