Watsco, Inc. (NYSE:WSO) Stock Has Average Price Target of $373.62 According to Analysts

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

WSO has been the topic of a number of analyst reports. Robert W. Baird set a $400.00 price target on Watsco in a research note on Thursday, July 30th. DA Davidson dropped their price objective on Watsco from $385.00 to $330.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Zacks Research raised Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 21st. Weiss Ratings cut shares of Watsco from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, October 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Watsco in a research note on Monday, August 17th.

Watsco Trading Down 5.3%

NYSE WSO opened at $305.97 on Tuesday. Watsco has a 1-year low of $277.34 and a 1-year high of $459.00. The stock has a 50-day moving average of $307.02 and a 200-day moving average of $367.03. The firm has a market cap of $12.62 billion, a PE ratio of 26.54 and a beta of 1.06.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, July 29th. The construction company reported $4.00 earnings per share for the quarter, missing the consensus estimate of $4.41 by ($0.41). Watsco had a net margin of 6.53% and a return on equity of 14.40%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter in the prior year, the company earned $4.52 earnings per share. The company’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Watsco will post 12.19 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $13.20 annualized dividend and a yield of 4.3%. Watsco’s dividend payout ratio is presently 114.48%.

Institutional Investors Weigh In On Watsco

A number of large investors have recently added to or reduced their stakes in the company. Bayban bought a new position in shares of Watsco during the fourth quarter valued at about $29,000. Western Wealth Management LLC purchased a new stake in shares of Watsco during the first quarter worth about $41,000. Versant Capital Management Inc boosted its holdings in shares of Watsco by 293.3% during the second quarter. Versant Capital Management Inc now owns 118 shares of the construction company’s stock worth $49,000 after purchasing an additional 88 shares during the period. GK Wealth Management LLC purchased a new position in Watsco during the 3rd quarter valued at about $63,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Watsco during the 2nd quarter valued at about $67,000. Institutional investors own 89.71% of the company’s stock.

About Watsco

Watsco, Inc (NYSE: WSO) is a distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment and related products. The company supplies residential and light commercial air-conditioning and heating systems, refrigeration equipment, replacement parts, and other supplies used by contractors and service professionals.

Watsco distributes products from leading HVAC/R manufacturers, including equipment and components such as air conditioners, heat pumps, furnaces, air handlers, thermostats, controls, motors and indoor air-quality products.