Watsco, Inc. (NYSE:WSO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Watsco, Inc. (NYSE:WSO) have been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $410.57.

Several analysts have weighed in on WSO shares. Robert W. Baird upped their price objective on shares of Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Stephens reaffirmed an “overweight” rating and set a $500.00 price objective on shares of Watsco in a research note on Thursday, April 25th.

Watsco Stock Performance

NYSE WSO opened at $490.64 on Friday. The stock has a market cap of $19.77 billion, a P/E ratio of 37.74 and a beta of 0.88. The company’s 50-day simple moving average is $481.00 and its 200 day simple moving average is $438.60. Watsco has a twelve month low of $337.58 and a twelve month high of $520.41. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.09). The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. Watsco’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.83 earnings per share. As a group, research analysts forecast that Watsco will post 14.1 earnings per share for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be paid a dividend of $2.70 per share. The ex-dividend date of this dividend is Tuesday, July 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.20%. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Insider Activity

In other news, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director John Alexander Macdonald sold 5,334 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Barry S. Logan sold 774 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the completion of the transaction, the executive vice president now owns 1,770 shares in the company, valued at $838,714.50. The disclosure for this sale can be found here. 12.86% of the stock is owned by insiders.

Institutional Investors Weigh In On Watsco

Several hedge funds have recently bought and sold shares of the company. SlateStone Wealth LLC raised its holdings in Watsco by 6.8% in the second quarter. SlateStone Wealth LLC now owns 1,925 shares of the construction company’s stock worth $892,000 after purchasing an additional 122 shares during the period. Bank of New York Mellon Corp raised its holdings in Watsco by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company’s stock worth $182,068,000 after purchasing an additional 6,320 shares during the period. RFP Financial Group LLC raised its holdings in Watsco by 13.5% in the second quarter. RFP Financial Group LLC now owns 386 shares of the construction company’s stock worth $179,000 after purchasing an additional 46 shares during the period. Schwartz Investment Counsel Inc. raised its holdings in Watsco by 8.9% in the second quarter. Schwartz Investment Counsel Inc. now owns 61,000 shares of the construction company’s stock worth $28,258,000 after purchasing an additional 5,000 shares during the period. Finally, LRI Investments LLC raised its holdings in Watsco by 3,068.8% in the second quarter. LRI Investments LLC now owns 507 shares of the construction company’s stock worth $235,000 after purchasing an additional 491 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

About Watsco

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.