Watsco Inc (NYSE:WSO) – Stock analysts at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for Watsco in a research note issued to investors on Thursday. KeyCorp analyst J. Hammond anticipates that the construction company will post earnings of $0.88 per share for the quarter. KeyCorp currently has a “Buy” rating on the stock. KeyCorp also issued estimates for Watsco’s Q3 2018 earnings at $2.32 EPS, Q4 2018 earnings at $1.12 EPS and FY2019 earnings at $7.50 EPS.
Other analysts have also recently issued research reports about the company. Zacks Investment Research raised Watsco from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a report on Monday, January 22nd. Susquehanna Bancshares set a $195.00 price target on Watsco and gave the company a “buy” rating in a report on Friday. Stephens set a $169.00 price target on Watsco and gave the company a “hold” rating in a report on Thursday. Finally, Morgan Stanley raised their price target on Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $170.71.
Watsco (NYSE:WSO) last issued its quarterly earnings data on Thursday, February 8th. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). The company had revenue of $964.35 million for the quarter, compared to analysts’ expectations of $965.85 million. Watsco had a return on equity of 14.66% and a net margin of 4.80%. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS.
Several institutional investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its position in shares of Watsco by 1.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,096 shares of the construction company’s stock valued at $1,403,000 after purchasing an additional 146 shares during the last quarter. Brookstone Capital Management increased its position in shares of Watsco by 17.1% during the 3rd quarter. Brookstone Capital Management now owns 2,155 shares of the construction company’s stock valued at $347,000 after purchasing an additional 314 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Watsco by 1.7% during the 3rd quarter. Prudential Financial Inc. now owns 19,248 shares of the construction company’s stock valued at $3,100,000 after purchasing an additional 330 shares during the last quarter. Pennsylvania Trust Co increased its position in shares of Watsco by 1.6% during the 4th quarter. Pennsylvania Trust Co now owns 30,127 shares of the construction company’s stock valued at $5,122,000 after purchasing an additional 463 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Watsco by 0.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 64,773 shares of the construction company’s stock valued at $9,988,000 after purchasing an additional 469 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.
In other news, SVP Barry S. Logan sold 3,246 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total transaction of $533,317.80. Following the transaction, the senior vice president now directly owns 15,800 shares in the company, valued at approximately $2,595,940. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 13.93% of the stock is currently owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th were given a dividend of $1.25 per share. The ex-dividend date was Friday, January 12th. This represents a $5.00 annualized dividend and a dividend yield of 3.03%. Watsco’s dividend payout ratio (DPR) is presently 86.36%.
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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