Watsco Inc. (WSO) Hits New 1-Year High at $149.53
Watsco Inc. (NYSE:WSO) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $149.53 and last traded at $148.93, with a volume of 82,202 shares. The stock had previously closed at $147.96.
Several research firms recently issued reports on WSO. JPMorgan Chase & Co. reduced their target price on shares of Watsco from $131.00 to $128.00 and set a “neutral” rating for the company in a report on Wednesday, July 27th. Susquehanna began 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. Stifel Nicolaus reduced their target price on shares of Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 25th. Barclays PLC set a $113.00 target price on shares of Watsco and gave the stock a “sell” rating in a report on Monday, July 25th. Finally, Zacks Investment Research lowered shares of Watsco from a “buy” rating to a “hold” rating in a report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $138.50.
The firm has a 50-day moving average of $142.80 and a 200-day moving average of $134.70. The firm has a market capitalization of $4.83 billion and a price-to-earnings ratio of 30.02.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.82 earnings per share for the quarter, missing the consensus estimate of $2.04 by $0.22. The business earned $1.21 billion during the quarter, compared to analyst estimates of $1.29 billion. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share. Analysts anticipate that Watsco Inc. will post $5.32 earnings per share for the current fiscal 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 $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 2.30%. The ex-dividend date was Wednesday, July 13th.
Other large investors have modified their holdings of the company. Bank of Montreal Can increased its stake in Watsco by 1.2% in the fourth quarter. Bank of Montreal Can now owns 125,383 shares of the company’s stock worth $14,686,000 after buying an additional 1,488 shares during the period. US Bancorp DE increased its stake in Watsco by 3.6% in the fourth quarter. US Bancorp DE now owns 10,340 shares of the company’s stock worth $1,210,000 after buying an additional 363 shares during the period. Trexquant Investment LP purchased a new stake in Watsco during the fourth quarter worth approximately $1,349,000. Finally, Westfield Capital Management Co. LP increased 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.
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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