Watsco, Inc. (NYSE:WSO) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Watsco, Inc. (NYSE:WSO) have received an average recommendation of “Hold” from the six analysts that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $486.25.

WSO has been the subject of several recent research reports. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Robert W. Baird upped their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Finally, Loop Capital lifted their price objective on shares of Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a report on Thursday, February 27th.

Hedge Funds Weigh In On Watsco

A number of institutional investors have recently added to or reduced their stakes in the company. My Legacy Advisors LLC boosted its stake in shares of Watsco by 3.2% in the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock valued at $329,000 after buying an additional 21 shares during the period. Avidian Wealth Enterprises LLC raised its holdings in Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock valued at $567,000 after acquiring an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC lifted its position in shares of Watsco by 3.0% during the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after acquiring an additional 22 shares during the period. M&T Bank Corp lifted its position in shares of Watsco by 1.4% during the 4th quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock valued at $799,000 after acquiring an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Watsco by 0.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,692 shares of the construction company’s stock worth $3,645,000 after purchasing an additional 23 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Performance

Shares of WSO opened at $500.42 on Monday. The firm has a market cap of $20.22 billion, a P/E ratio of 37.77 and a beta of 0.92. Watsco has a twelve month low of $396.82 and a twelve month high of $571.42. The firm’s 50 day moving average price is $496.12 and its two-hundred day moving average price is $498.18.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%. On average, sell-side analysts anticipate that Watsco will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.16%. Watsco’s dividend payout ratio is 81.51%.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.