Watsco, Inc. (NYSE:WSO) Receives $422.71 Consensus Price Target from Analysts

by · The Cerbat Gem

Watsco, Inc. (NYSE:WSO – Get Free Report) has been given an average recommendation of “Hold” by the eleven brokerages that are currently covering the company, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $422.7143.

Several brokerages recently issued reports on WSO. KeyCorp reiterated a “sector weight” rating on shares of Watsco in a report on Friday, December 12th. Zacks Research raised shares of Watsco from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. JPMorgan Chase & Co. lowered their target price on shares of Watsco from $400.00 to $360.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. UBS Group dropped their price target on shares of Watsco from $425.00 to $390.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Finally, Wolfe Research set a $349.00 price target on shares of Watsco in a report on Tuesday, December 9th.

View Our Latest Report on Watsco

Watsco Stock Performance

Shares of NYSE WSO opened at $347.59 on Wednesday. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 27.16 and a beta of 1.01. Watsco has a fifty-two week low of $323.05 and a fifty-two week high of $535.40. The firm’s 50-day simple moving average is $350.07 and its 200 day simple moving average is $397.49.

Watsco (NYSE:WSO – Get Free Report) last issued its quarterly earnings data on Friday, November 7th. The construction company reported $3.98 EPS for the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%.The firm had revenue of $2.07 billion during the quarter. On average, sell-side analysts predict that Watsco will post 14.62 EPS for the current year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Thursday, October 16th were paid a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Thursday, October 16th. Watsco’s payout ratio is presently 93.75%.

Institutional Trading of Watsco

Institutional investors and hedge funds have recently modified their holdings of the business. WPG Advisers LLC purchased a new position in Watsco in the first quarter worth $25,000. Ameritas Advisory Services LLC bought a new stake in shares of Watsco during the 2nd quarter worth $26,000. SJS Investment Consulting Inc. raised its stake in shares of Watsco by 2,366.7% during the 3rd quarter. SJS Investment Consulting Inc. now owns 74 shares of the construction company’s stock worth $30,000 after purchasing an additional 71 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in shares of Watsco by 242.9% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 72 shares of the construction company’s stock worth $33,000 after buying an additional 51 shares during the last quarter. Finally, Chilton Capital Management LLC purchased a new stake in Watsco during the second quarter worth about $34,000. 89.71% of the stock is owned by hedge funds and other institutional investors.

About Watsco

(Get Free Report)

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.

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