Watsco (NYSE:WSO) Price Target Raised to $460.00

Watsco (NYSE:WSO) had its target price lifted by Robert W. Baird from $420.00 to $460.00 in a report issued on Thursday morning, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Watsco Trading Down 0.2 %

Shares of NYSE:WSO opened at $443.21 on Thursday. The company’s 50-day moving average price is $412.36 and its two-hundred day moving average price is $399.77. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.47. Watsco has a one year low of $315.17 and a one year high of $451.29. The stock has a market capitalization of $17.51 billion, a PE ratio of 34.09 and a beta of 0.90.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the firm earned $2.83 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, equities analysts forecast that Watsco will post 14.19 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a dividend of $2.70 per share. The ex-dividend date is Friday, April 12th. This is a positive change from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.44%. Watsco’s payout ratio is currently 83.08%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Watsco during the 4th quarter worth about $25,000. First PREMIER Bank acquired a new position in shares of Watsco during the 1st quarter worth about $25,000. Contravisory Investment Management Inc. acquired a new position in shares of Watsco during the 4th quarter worth about $26,000. Cullen Frost Bankers Inc. acquired a new position in Watsco in the 4th quarter valued at about $28,000. Finally, Rise Advisors LLC acquired a new position in Watsco in the 4th quarter valued at about $30,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

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.