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

Shares of Watsco, Inc. (NYSE:WSO) have earned an average rating of “Hold” from the six research firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $486.25.

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

Watsco Stock Performance

Shares of WSO opened at $495.89 on Monday. The firm has a market cap of $20.04 billion, a P/E ratio of 37.43 and a beta of 0.92. Watsco has a 52 week low of $396.82 and a 52 week high of $571.42. The firm’s 50-day simple moving average is $493.43 and its 200 day simple moving average is $496.71.

Watsco (NYSE:WSO) last posted its earnings results 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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. As a group, equities analysts forecast that Watsco will post 14.62 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.18%. Watsco’s payout ratio is 81.51%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WSO. Toronto Dominion Bank boosted its holdings in shares of Watsco by 32.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock valued at $2,094,000 after purchasing an additional 1,038 shares in the last quarter. Larson Financial Group LLC grew its position in Watsco by 3,571.0% in the third quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock valued at $560,000 after acquiring an additional 1,107 shares during the last quarter. Franklin Resources Inc. grew its position in Watsco by 5.6% in the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after acquiring an additional 2,738 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Watsco by 2,128.1% in the third quarter. Benjamin Edwards Inc. now owns 107,463 shares of the construction company’s stock worth $52,880,000 after acquiring an additional 102,640 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Watsco by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company’s stock valued at $228,263,000 after purchasing an additional 41,845 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

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.