UBS Group Raises Watsco (NYSE:WSO) Price Target to $340.00

Watsco (NYSE:WSO – Get Rating) had its price target increased by UBS Group from $280.00 to $340.00 in a research report sent to investors on Tuesday morning, The Fly reports.

A number of other analysts also recently weighed in on WSO. StockNews.com initiated coverage on Watsco in a research note on Thursday, May 18th. They issued a hold rating on the stock. Stephens lifted their price objective on Watsco from $375.00 to $400.00 and gave the stock an overweight rating in a report on Friday, April 21st. KeyCorp lifted their price objective on Watsco from $365.00 to $380.00 and gave the stock an overweight rating in a report on Friday, April 21st. Deutsche Bank Aktiengesellschaft lifted their price objective on Watsco from $331.00 to $380.00 in a report on Monday, April 24th. Finally, Robert W. Baird lifted their price objective on Watsco from $350.00 to $355.00 and gave the stock an outperform rating in a report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Watsco currently has an average rating of Hold and an average target price of $354.14.

Watsco Stock Down 0.0 %

Watsco stock opened at $321.83 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.73 and a quick ratio of 1.03. Watsco has a 1-year low of $220.68 and a 1-year high of $356.60. The company has a market cap of $12.54 billion, a PE ratio of 20.98 and a beta of 0.91. The stock’s 50 day moving average price is $323.24 and its 200 day moving average price is $294.81.

Watsco (NYSE:WSO – Get Rating) last posted its quarterly earnings results on Thursday, April 20th. The construction company reported $2.83 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.58. Watsco had a return on equity of 24.40% and a net margin of 8.19%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the previous year, the business earned $2.90 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Watsco will post 14.5 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Monday, April 17th were issued a $2.45 dividend. The ex-dividend date was Friday, April 14th. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.05%. Watsco’s dividend payout ratio (DPR) is 63.89%.

Institutional Investors Weigh In On Watsco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Denali Advisors LLC purchased a new stake in shares of Watsco in the fourth quarter valued at $25,000. Colonial Trust Co SC grew its position in shares of Watsco by 78.1% in the first quarter. Colonial Trust Co SC now owns 114 shares of the construction company’s stock valued at $36,000 after purchasing an additional 50 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Watsco in the first quarter valued at $38,000. WealthPlan Investment Management LLC purchased a new stake in shares of Watsco in the first quarter valued at $39,000. Finally, U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Watsco in the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 84.73% of the company’s stock.

Watsco Company Profile

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Watsco, Inc engages in the distribution of air conditioning, heating and refrigeration equipment, and related parts and supplies. Its products include residential central air conditioners, gas, electric & oil furnaces, commercial air conditioning and heating equipment, and other specialized equipment and parts, including replacement compressors, evaporator coils, motors and other component parts and supplies, including thermostats, insulation material, refrigerants, ductwork, grills, registers, sheet metal, tools, copper tubing, concrete pads, tape, adhesives, and other ancillary supplies.