Watsco, Inc. (NYSE:WSO) – Equities research analysts at William Blair decreased their Q3 2017 EPS estimates for shares of Watsco in a research note issued on Tuesday. William Blair analyst R. Merkel now forecasts that the construction company will post earnings per share of $1.89 for the quarter, down from their prior forecast of $1.93.

A number of other analysts have also commented on WSO. Zacks Investment Research lowered Watsco from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Seaport Global Securities raised Watsco from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $160.00 in a report on Wednesday, April 26th. Stifel Nicolaus lifted their target price on Watsco from $152.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, April 26th. BidaskClub raised Watsco from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Wolfe Research initiated coverage on Watsco in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Watsco has a consensus rating of “Hold” and a consensus price target of $159.83.

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Watsco (NYSE:WSO) opened at 149.98 on Wednesday. Watsco has a 52-week low of $128.60 and a 52-week high of $159.55. The firm has a 50-day moving average price of $150.65 and a 200 day moving average price of $146.90. The stock has a market cap of $4.90 billion, a PE ratio of 29.13 and a beta of 0.84.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.04 by $0.03. Watsco had a return on equity of 13.81% and a net margin of 4.13%. The business had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the firm earned $1.82 earnings per share. The business’s revenue was up 5.1% on a year-over-year basis.

Institutional investors have recently added to or reduced their stakes in the company. UBS Group AG increased its position in Watsco by 67.0% in the first quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock worth $4,698,000 after buying an additional 13,165 shares during the period. Private Trust Co. NA purchased a new position in Watsco during the first quarter worth about $463,000. Point72 Asset Management L.P. purchased a new position in Watsco during the first quarter worth about $10,796,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Watsco by 41.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock worth $168,000 after buying an additional 343 shares during the period. Finally, William Blair Investment Management LLC increased its position in Watsco by 13.9% in the first quarter. William Blair Investment Management LLC now owns 241,082 shares of the construction company’s stock worth $34,518,000 after buying an additional 29,423 shares during the period. Hedge funds and other institutional investors own 80.71% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Monday, July 31st. Stockholders of record on Monday, July 17th will be paid a $1.25 dividend. This is an increase from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Thursday, July 13th. Watsco’s dividend payout ratio (DPR) is 97.66%.

About Watsco

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.

Earnings History and Estimates for Watsco (NYSE:WSO)

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