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%.

WARNING: This piece of content was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/07/16/watsco-inc-nysewso-downgraded-to-hold-at-bidaskclub.html.

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.

Analyst Recommendations for Watsco (NYSE:WSO)

Receive News & Ratings for Watsco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco Inc. and related companies with MarketBeat.com's FREE daily email newsletter.