Analysts Set Watsco, Inc. (NYSE:WSO) PT at $495.00

Shares of Watsco, Inc. (NYSE:WSO) have received a consensus rating of “Hold” from the six research firms that are currently covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $486.25.

Several equities analysts have recently commented on the company. Loop Capital boosted their price objective on Watsco from $450.00 to $460.00 and gave the company a “hold” rating in a research report on Thursday, February 27th. Northcoast Research assumed coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Raymond James assumed coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating on the stock. Finally, Robert W. Baird boosted their price objective on Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th.

Watsco Price Performance

Shares of WSO stock opened at $501.81 on Thursday. The company has a market cap of $20.26 billion, a price-to-earnings ratio of 37.87 and a beta of 0.95. Watsco has a 1 year low of $388.47 and a 1 year high of $571.41. The firm has a fifty day moving average price of $485.38 and a 200-day moving average price of $493.80.

Watsco (NYSE:WSO) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a return on equity of 17.59% and a net margin of 7.04%. The business had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. Equities research analysts expect that Watsco will post 14.62 EPS for the current year.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.15%. Watsco’s dividend payout ratio is currently 81.51%.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.86% of the stock is owned by company insiders.

Institutional Investors Weigh In On Watsco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WSO. Forsta AP Fonden raised its position in Watsco by 9.9% during the third quarter. Forsta AP Fonden now owns 7,800 shares of the construction company’s stock valued at $3,837,000 after purchasing an additional 700 shares during the period. Arkadios Wealth Advisors grew its stake in shares of Watsco by 19.5% during the third quarter. Arkadios Wealth Advisors now owns 644 shares of the construction company’s stock valued at $317,000 after buying an additional 105 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of Watsco by 16.1% during the third quarter. State of Alaska Department of Revenue now owns 4,037 shares of the construction company’s stock valued at $1,985,000 after buying an additional 560 shares during the last quarter. abrdn plc grew its stake in shares of Watsco by 1.2% during the third quarter. abrdn plc now owns 14,996 shares of the construction company’s stock valued at $7,378,000 after buying an additional 172 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Watsco by 8.0% during the third quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the construction company’s stock valued at $929,000 after buying an additional 140 shares during the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

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.