Watsco, Inc. (NYSE:WSO) Downgraded to Hold at BidaskClub
Watsco, Inc. (NYSE:WSO) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Sunday.
Several other equities analysts also recently weighed in on the company. Seaport Global Securities upgraded Watsco from a “neutral” rating to a “buy” rating and increased their target price for the stock from $145.00 to $160.00 in a research report on Wednesday, April 26th. Zacks Investment Research downgraded Watsco from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Stifel Nicolaus increased their target price on Watsco from $152.00 to $163.00 and gave the stock a “buy” rating in a research report on Wednesday, April 26th. Finally, Wolfe Research began coverage on Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $153.14.
Shares of Watsco (WSO) traded down 0.40% on Friday, reaching $150.83. The company’s stock had a trading volume of 313,080 shares. The company has a 50 day moving average of $145.41 and a 200 day moving average of $146.67. The stock has a market capitalization of $4.92 billion, a P/E ratio of 29.29 and a beta of 0.84. Watsco has a 1-year low of $128.60 and a 1-year high of $159.55.
Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, April 25th. The construction company reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.80 by $0.13. Watsco had a net margin of 4.13% and a return on equity of 13.81%. The company had revenue of $872.10 million during the quarter, compared to analysts’ expectations of $877.45 million. During the same quarter in the prior year, the company earned $0.71 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. Equities research analysts expect that Watsco will post $5.71 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Monday, July 17th will be paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 3.31%. The ex-dividend date of this dividend is Thursday, July 13th. This is a positive change from Watsco’s previous quarterly dividend of $1.05. Watsco’s dividend payout ratio (DPR) is 97.66%.
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Large investors have recently modified their holdings of the stock. Public Employees Retirement Association of Colorado raised its stake in shares of Watsco by 0.4% in the third quarter. Public Employees Retirement Association of Colorado now owns 836 shares of the construction company’s stock worth $118,000 after buying an additional 3 shares during the period. Foundry Partners LLC raised its stake in shares of Watsco by 0.6% in the third quarter. Foundry Partners LLC now owns 1,660 shares of the construction company’s stock worth $234,000 after buying an additional 10 shares during the period. Creative Planning raised its stake in shares of Watsco by 1.5% in the first quarter. Creative Planning now owns 979 shares of the construction company’s stock worth $140,000 after buying an additional 14 shares during the period. Advisor Partners LLC raised its stake in shares of Watsco by 0.9% in the first quarter. Advisor Partners LLC now owns 1,570 shares of the construction company’s stock worth $225,000 after buying an additional 14 shares during the period. Finally, Washington Trust Bank raised its stake in shares of Watsco by 1.9% in the third quarter. Washington Trust Bank now owns 851 shares of the construction company’s stock worth $120,000 after buying an additional 16 shares during the period. Hedge funds and other institutional investors own 79.18% of the company’s stock.
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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