Watsco (NYSE:WSO) Reaches New 12-Month High – Here’s What Happened

by · The Markets Daily

Watsco, Inc. (NYSE:WSO – Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $540.54 and last traded at $538.34, with a volume of 24093 shares changing hands. The stock had previously closed at $533.36.

Analysts Set New Price Targets

Several brokerages recently weighed in on WSO. JPMorgan Chase & Co. boosted their price target on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird reduced their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th.

Get Our Latest Report on Watsco

Watsco Stock Up 1.8 %

The company has a market capitalization of $21.92 billion, a PE ratio of 41.60 and a beta of 0.88. The firm’s 50 day simple moving average is $487.73 and its 200 day simple moving average is $480.99.

Watsco (NYSE:WSO – Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.35 earnings per share. As a group, sell-side analysts predict that Watsco, Inc. will post 13.2 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 1.99%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio is presently 83.46%.

Hedge Funds Weigh In On Watsco

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Watsco by 256.3% during the first quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company’s stock valued at $1,510,000 after purchasing an additional 2,427 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Watsco in the 1st quarter valued at $491,000. Gateway Investment Advisers LLC bought a new position in shares of Watsco in the 2nd quarter worth $2,109,000. Vanguard Group Inc. lifted its stake in shares of Watsco by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after purchasing an additional 146,305 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in Watsco by 6.2% during the first quarter. William Blair Investment Management LLC now owns 66,966 shares of the construction company’s stock valued at $28,927,000 after purchasing an additional 3,881 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Company Profile

(Get Free Report)

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.

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