Watsco Inc. (WSO) Upgraded at Longbow Research
Longbow Research upgraded shares of Watsco Inc. (NYSE:WSO) from a neutral rating to a buy rating in a research report released on Friday morning. Longbow Research currently has $170.00 price objective on the stock.
Several other brokerages have also recently commented on WSO. Seaport Global Securities cut Watsco from an accumulate rating to a neutral rating and set a $150.00 target price on the stock. in a report on Monday, July 25th. Stifel Nicolaus dropped their target price on Watsco from $154.00 to $150.00 and set a buy rating on the stock in a report on Monday, July 25th. Barclays PLC set a $113.00 target price on Watsco and gave the stock a sell rating in a report on Monday, July 25th. JPMorgan Chase & Co. dropped their target price on Watsco from $131.00 to $128.00 and set a neutral rating on the stock in a report on Wednesday, July 27th. Finally, Zacks Investment Research raised Watsco from a sell rating to a hold rating in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Watsco currently has an average rating of Hold and an average price target of $141.36.
Shares of Watsco (NYSE:WSO) opened at 141.35 on Friday. The firm has a market cap of $4.60 billion, a PE ratio of 28.64 and a beta of 0.94. Watsco has a 12-month low of $106.58 and a 12-month high of $149.99. The stock’s 50 day moving average price is $143.04 and its 200 day moving average price is $139.07.
Watsco (NYSE:WSO) last issued its quarterly earnings data on Friday, July 22nd. The company reported $1.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by $0.22. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.29 billion. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.85 earnings per share. On average, equities research analysts predict that Watsco will post $5.31 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 17th will be given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, October 13th. This is an increase from Watsco’s previous quarterly dividend of $0.85. Watsco’s dividend payout ratio (DPR) is 85.37%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Financial Corp IN purchased a new position in shares of Watsco during the third quarter worth approximately $150,000. Oregon Public Employees Retirement Fund increased its position in shares of Watsco by 3.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 8,885 shares of the company’s stock worth $1,252,000 after buying an additional 278 shares during the period. Foundry Partners LLC increased its position in shares of Watsco by 0.6% in the third quarter. Foundry Partners LLC now owns 1,660 shares of the company’s stock worth $234,000 after buying an additional 10 shares during the period. Washington Trust Bank increased its position in shares of Watsco by 1.9% in the third quarter. Washington Trust Bank now owns 851 shares of the company’s stock worth $120,000 after buying an additional 16 shares during the period. Finally, Mason Street Advisors LLC purchased a new position in shares of Watsco during the second quarter worth approximately $1,655,000. 67.31% of the stock is owned by institutional investors.
Watsco Company Profile
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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