Watsco Inc. (WSO) Sees Unusually-High Trading Volume
Shares of Watsco Inc. (NYSE:WSO) saw unusually-high trading volume on Monday . Approximately 138,468 shares changed hands during trading, a decline of 3% from the previous session’s volume of 143,371 shares.The stock last traded at $145.76 and had previously closed at $145.24.
WSO has been the topic of a number of research reports. Susquehanna initiated coverage on shares of Watsco in a research report on Wednesday, June 1st. They set a “positive” rating and a $154.00 target price on the stock. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $151.00 target price on the stock in a research report on Wednesday, June 22nd. JPMorgan Chase & Co. dropped their target price on shares of Watsco from $131.00 to $128.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 27th. Seaport Global Securities lowered shares of Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price target on the stock. in a report on Monday, July 25th. Finally, Barclays PLC set a $113.00 price target on shares of Watsco and gave the company a “sell” rating in a report on Monday, July 25th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $138.50.
The stock has a market cap of $4.75 billion and a price-to-earnings ratio of 29.52. The firm has a 50 day moving average of $142.55 and a 200-day moving average of $134.35.
Watsco (NYSE:WSO) last released its quarterly earnings data on Friday, July 22nd. The company reported $1.82 EPS for the quarter, missing the consensus estimate of $2.04 by $0.22. The firm earned $1.21 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same period in the previous year, the firm posted $1.85 earnings per share. The company’s revenue was down .7% compared to the same quarter last year. On average, equities research analysts expect that Watsco Inc. will post $5.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 15th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a yield of 2.33%. The ex-dividend date was Wednesday, July 13th.
A number of large investors have made changes to their positions in WSO. Westfield Capital Management Co. LP increased its stake in shares of Watsco by 1.4% in the fourth quarter. Westfield Capital Management Co. LP now owns 322,605 shares of the company’s stock valued at $37,787,000 after buying an additional 4,415 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Watsco by 1.2% in the fourth quarter. Bank of Montreal Can now owns 125,383 shares of the company’s stock valued at $14,686,000 after buying an additional 1,488 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Watsco during the fourth quarter valued at about $1,349,000. Finally, US Bancorp DE increased its stake in shares of 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 in 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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