Watsco, Inc. (NYSE:WSO) Stock Has Consensus Target Price of $373.62

Shares of Watsco, Inc. (NYSE:WSO) have received an average recommendation of “Hold” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $373.62.

A number of research analysts have recently weighed in on the company. Stephens restated an “overweight” rating and issued a $485.00 price target on shares of Watsco in a research report on Monday, August 17th. Weiss Ratings lowered shares of Watsco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, October 6th. Morgan Stanley decreased their price objective on shares of Watsco from $370.00 to $330.00 and set an “equal weight” rating on the stock in a research report on Monday, October 12th. Zacks Research raised shares of Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 21st. Finally, Robert W. Baird set a $400.00 target price on shares of Watsco in a report on Thursday, July 30th.

Institutional Trading of Watsco

Several large investors have recently modified their holdings of WSO. Marshall Wace LLP grew its holdings in Watsco by 536.1% during the 3rd quarter. Marshall Wace LLP now owns 170,187 shares of the construction company’s stock valued at $51,514,000 after buying an additional 143,432 shares during the last quarter. Caxton Associates LLP acquired a new position in shares of Watsco in the third quarter worth $5,165,000. Xcelsior Advisor Partners LLC raised its holdings in shares of Watsco by 99.3% in the third quarter. Xcelsior Advisor Partners LLC now owns 5,989 shares of the construction company’s stock worth $1,813,000 after acquiring an additional 2,984 shares during the last quarter. AlphaGrep UK Ltd acquired a new position in shares of Watsco in the third quarter worth $750,000. Finally, Benjamin Edwards Inc. lifted its position in shares of Watsco by 22.4% in the third quarter. Benjamin Edwards Inc. now owns 157,221 shares of the construction company’s stock valued at $47,603,000 after acquiring an additional 28,777 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Up 0.1%

Shares of WSO traded up $0.21 on Friday, reaching $308.45. The stock had a trading volume of 469,709 shares, compared to its average volume of 723,794. Watsco has a twelve month low of $277.34 and a twelve month high of $459.00. The firm has a market capitalization of $12.72 billion, a PE ratio of 27.25 and a beta of 1.03. The firm has a 50-day moving average of $305.98 and a 200 day moving average of $362.24.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, October 27th. The construction company reported $3.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.10 by ($0.33). The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.21 billion. Watsco had a return on equity of 13.97% and a net margin of 6.31%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.98 earnings per share. On average, sell-side analysts anticipate that Watsco will post 11.70 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Friday, October 16th were issued a $3.30 dividend. This represents a $13.20 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Friday, October 16th. Watsco’s dividend payout ratio is 116.61%.

About Watsco

Watsco, Inc. distributes air-conditioning, heating, and refrigeration equipment and related parts and supplies. Its products serve residential and light commercial applications, including systems used in homes and businesses, as well as components and supplies for contractors who install and maintain them. The company sells products from a range of manufacturers through a network of distribution locations and digital platforms. Watsco serves customers in the United States, Canada, Mexico, and parts of Latin America and the Caribbean, supporting the installation, repair, and replacement of HVAC and refrigeration systems.