Watsco Inc. (WSO) Reaches New 52-Week High at $144.99
Watsco Inc. (NYSE:WSO) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $144.99 and last traded at $143.94, with a volume of 69,291 shares traded. The stock had previously closed at $144.27.
Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Watsco from $131.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday. Stifel Nicolaus decreased their price target on shares of Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, July 25th. Barclays PLC set a $113.00 price target on shares of Watsco and gave the stock a “sell” rating in a research note on Monday, July 25th. Seaport Global Securities lowered shares of Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price objective for the company. in a research note on Monday, July 25th. Finally, Zacks Investment Research lowered shares of 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, three have given a hold rating and five have given a buy rating to the stock. Watsco has an average rating of “Hold” and a consensus target price of $138.50.
The stock’s 50 day moving average price is $138.78 and its 200 day moving average price is $130.46. The company has a market cap of $4.70 billion and a PE ratio of 29.19.
Watsco (NYSE:WSO) last released its quarterly earnings data on Friday, July 22nd. The company reported $1.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.04 by $0.22. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the business posted $1.85 earnings per share. Watsco’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts forecast that Watsco Inc. will post $5.29 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were paid a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Wednesday, July 13th.
A number of hedge funds have added to or reduced their stakes in the company. OppenheimerFunds Inc. acquired a new stake in Watsco during the fourth quarter worth $16,948,000. Trexquant Investment LP acquired a new stake in Watsco during the fourth quarter worth $1,349,000. Liberty Mutual Group Asset Management Inc. raised 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 worth $1,806,000 after buying an additional 4,470 shares during the period. Westfield Capital Management Co. LP raised its stake in Watsco by 1.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 322,605 shares of the company’s stock worth $37,787,000 after buying an additional 4,415 shares during the period. Finally, California Public Employees Retirement System raised its stake in Watsco by 3.8% in the fourth quarter. California Public Employees Retirement System now owns 81,700 shares of the company’s stock worth $9,570,000 after buying an additional 3,000 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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