Brokerages Set Watsco, Inc. (NYSE:WSO) Price Target at $486.25

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

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

Watsco Price Performance

WSO stock opened at $513.40 on Monday. Watsco has a 1-year low of $396.82 and a 1-year high of $571.42. The business has a 50 day simple moving average of $495.56 and a two-hundred day simple moving average of $497.75. The company has a market capitalization of $20.74 billion, a price-to-earnings ratio of 38.75 and a beta of 0.92.

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

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a $2.70 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a yield of 2.10%. Watsco’s dividend payout ratio (DPR) is currently 81.51%.

Institutional Investors Weigh In On Watsco

Hedge funds have recently made changes to their positions in the company. My Legacy Advisors LLC grew its holdings in Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after acquiring an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its position in shares of Watsco by 1.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after purchasing an additional 21 shares during the period. Centennial Wealth Advisory LLC boosted its stake in shares of Watsco by 3.0% during the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock valued at $358,000 after purchasing an additional 22 shares in the last quarter. M&T Bank Corp increased its holdings in Watsco by 1.4% during the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock valued at $799,000 after buying an additional 23 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Watsco by 0.3% in the fourth 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 buying an additional 23 shares in 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.