Watsco Inc. (WSO) Sees Unusually-High Trading Volume
Shares of Watsco Inc. (NYSE:WSO) saw unusually-high trading volume on Thursday . Approximately 270,271 shares were traded during mid-day trading, an increase of 34% from the previous session’s volume of 201,981 shares.The stock last traded at $140.86 and had previously closed at $140.89.
WSO has been the subject of several recent analyst reports. Zacks Investment Research downgraded shares of Watsco from a “buy” rating to a “hold” rating in a report on Friday, April 22nd. Goldman Sachs Group Inc. upped their target price on shares of Watsco from $120.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, April 20th. Susquehanna initiated coverage on shares of Watsco in a report on Wednesday, June 1st. They issued a “positive” rating and a $154.00 target price for the company. Robert W. Baird reaffirmed a “buy” rating and issued a $144.00 target price (up previously from $136.00) on shares of Watsco in a report on Thursday, April 21st. Finally, SunTrust Banks Inc. downgraded shares of Watsco from a “buy” rating to a “neutral” rating and set a $136.00 target price for the company. in a report on Monday, April 25th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $136.30.
The company’s 50-day moving average price is $137.54 and its 200 day moving average price is $129.23. The firm has a market capitalization of $4.60 billion and a PE ratio of 28.49.
Watsco (NYSE:WSO) last issued its earnings results on Wednesday, April 20th. The company reported $0.71 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.73 by $0.02. During the same period in the previous year, the business posted $0.65 earnings per share. The company had revenue of $851 million for the quarter, compared to analysts’ expectations of $845.52 million. Watsco’s revenue was up 5.2% compared to the same quarter last year. On average, analysts expect that Watsco Inc. will post $5.48 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Friday, July 15th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, July 13th. This represents a $3.40 annualized dividend and a dividend yield of 2.40%.
Several hedge funds and institutional investors have modified their holdings of the company. First Trust Advisors LP boosted its position in shares of Watsco by 3.8% in the fourth quarter. First Trust Advisors LP now owns 75,134 shares of the company’s stock valued at $8,800,000 after buying an additional 2,765 shares during the period. OppenheimerFunds Inc. acquired a new position in shares of Watsco during the fourth quarter valued at about $16,948,000. Rhumbline Advisers boosted its position in shares of Watsco by 1.1% in the fourth quarter. Rhumbline Advisers now owns 44,927 shares of the company’s stock valued at $5,262,000 after buying an additional 482 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Watsco by 3.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 17,650 shares of the company’s stock valued at $2,067,000 after buying an additional 531 shares during the period. Finally, Levin Capital Strategies L.P. boosted its position in shares of Watsco by 5.9% in the fourth quarter. Levin Capital Strategies L.P. now owns 9,000 shares of the company’s stock valued at $1,054,000 after buying an additional 500 shares during the period.
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.
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