Watsco Inc. (WSO) Sees Unusually-High Trading Volume
Watsco Inc. (NYSE:WSO) shares saw strong trading volume on Thursday . 270,271 shares changed hands during 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.
A number of equities research analysts recently weighed in on the company. Morgan Stanley raised their price target on Watsco from $123.00 to $127.00 in a report on Thursday, April 7th. Seaport Global Securities raised their price target on Watsco from $135.00 to $150.00 and gave the company an “accumulate” rating in a report on Thursday, April 21st. Susquehanna initiated coverage on Watsco in a report on Wednesday, June 1st. They set a “positive” rating and a $154.00 price target for the company. Robert W. Baird reissued a “buy” rating and issued a $144.00 target price (up from $136.00) on shares of Watsco in a research note on Thursday, April 21st. Finally, Zacks Investment Research cut Watsco from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $136.30.
The stock has a 50-day moving average of $137.77 and a 200-day moving average of $129.43. The company has a market cap of $4.67 billion and a price-to-earnings ratio of 28.96.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by $0.22. The company earned $1.21 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the prior year, the business posted $1.85 EPS. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts anticipate that Watsco Inc. will post $5.48 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be paid a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.37%. The ex-dividend date of this dividend is Wednesday, July 13th.
A number of large investors have added to or reduced their stakes in WSO. Levin Capital Strategies L.P. boosted its stake in 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 last quarter. US Bancorp DE boosted its stake in Watsco by 3.6% in the fourth quarter. US Bancorp DE now owns 10,340 shares of the company’s stock valued at $1,210,000 after buying an additional 363 shares during the last quarter. Trexquant Investment LP acquired a new stake in Watsco during the fourth quarter valued at $1,349,000. Liberty Mutual Group Asset Management Inc. boosted its stake in Watsco by 40.8% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 15,416 shares of the company’s stock valued at $1,806,000 after buying an additional 4,470 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its stake in 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 last quarter.
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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