Watsco Inc (NYSE:WSO) – Stock analysts at Seaport Global Securities boosted their Q2 2018 earnings per share (EPS) estimates for shares of Watsco in a research report issued on Friday. Seaport Global Securities analyst W. Liptak now forecasts that the construction company will post earnings of $2.56 per share for the quarter, up from their previous forecast of $2.38. Seaport Global Securities also issued estimates for Watsco’s Q3 2018 earnings at $2.39 EPS, FY2018 earnings at $6.99 EPS, Q1 2019 earnings at $1.01 EPS, Q2 2019 earnings at $2.94 EPS, Q3 2019 earnings at $2.66 EPS, Q4 2019 earnings at $1.45 EPS and FY2019 earnings at $8.06 EPS.
Watsco (NYSE:WSO) last released its quarterly earnings results on Thursday, February 8th. The construction company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.00 by ($0.10). Watsco had a net margin of 4.80% and a return on equity of 14.66%. The firm had revenue of $964.35 million for the quarter, compared to the consensus estimate of $965.85 million. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year.
Shares of Watsco (WSO) opened at $164.98 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 3.21. Watsco has a 1 year low of $134.08 and a 1 year high of $182.79. The firm has a market capitalization of $5,896.55, a P/E ratio of 28.49 and a beta of 0.87.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 16th were issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 3.03%. The ex-dividend date was Friday, January 12th. Watsco’s dividend payout ratio (DPR) is 86.36%.
In other Watsco news, SVP Barry S. Logan sold 3,246 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total value of $533,317.80. Following the sale, the senior vice president now directly owns 15,800 shares of the company’s stock, valued at $2,595,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 13.93% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in WSO. BlackRock Inc. boosted its holdings in Watsco by 4.1% in the fourth quarter. BlackRock Inc. now owns 2,682,903 shares of the construction company’s stock worth $456,201,000 after acquiring an additional 105,677 shares in the last quarter. DF Dent & Co. Inc. boosted its holdings in Watsco by 25.7% in the third quarter. DF Dent & Co. Inc. now owns 430,125 shares of the construction company’s stock worth $69,280,000 after acquiring an additional 88,072 shares in the last quarter. Riverbridge Partners LLC boosted its holdings in Watsco by 68.4% in the third quarter. Riverbridge Partners LLC now owns 163,063 shares of the construction company’s stock worth $26,265,000 after acquiring an additional 66,240 shares in the last quarter. APG Asset Management N.V. bought a new stake in Watsco in the fourth quarter worth $7,802,000. Finally, Victory Capital Management Inc. boosted its holdings in Watsco by 471.9% in the third quarter. Victory Capital Management Inc. now owns 63,144 shares of the construction company’s stock worth $10,171,000 after acquiring an additional 52,103 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.
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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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