William Blair Has Positive Outlook of Watsco FY2024 Earnings

Watsco, Inc. (NYSE:WSO) – Investment analysts at William Blair lifted their FY2024 earnings per share (EPS) estimates for shares of Watsco in a note issued to investors on Wednesday, January 15th. William Blair analyst R. Merkel now expects that the construction company will post earnings of $13.13 per share for the year, up from their previous forecast of $12.75. The consensus estimate for Watsco’s current full-year earnings is $12.97 per share. William Blair also issued estimates for Watsco’s Q4 2024 earnings at $2.23 EPS and FY2025 earnings at $14.85 EPS.

A number of other research analysts also recently commented on WSO. Raymond James initiated coverage on Watsco in a report on Friday. They issued a “market perform” rating for the company. Robert W. Baird reduced their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Northcoast Research started coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $488.33.

Watsco Stock Up 1.2 %

Shares of WSO opened at $496.92 on Monday. Watsco has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The firm has a market cap of $20.07 billion, a PE ratio of 38.40 and a beta of 0.95. The company’s fifty day moving average is $507.68 and its two-hundred day moving average is $492.62.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the company posted $4.35 earnings per share. Watsco’s revenue was up 1.6% on a year-over-year basis.

Hedge Funds Weigh In On Watsco

Several institutional investors have recently bought and sold shares of the business. Quarry LP bought a new stake in Watsco during the 2nd quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new position in Watsco in the third quarter valued at approximately $43,000. Massmutual Trust Co. FSB ADV boosted its stake in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Watsco during the 3rd quarter worth $48,000. Finally, MCF Advisors LLC raised its position in shares of Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Insider Transactions at Watsco

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

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $2.70 dividend. The ex-dividend date is Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.17%. Watsco’s dividend payout ratio is 83.46%.

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.