Watsco Inc. (WSO) Sees Unusually-High Trading Volume
Watsco Inc. (NYSE:WSO) shares saw unusually-strong trading volume on Tuesday . Approximately 146,083 shares changed hands during trading, a decline of 12% from the previous session’s volume of 165,252 shares.The stock last traded at $142.92 and had previously closed at $142.21.
A number of equities research analysts have recently commented on WSO shares. Stifel Nicolaus downgraded Watsco from a “buy” rating to a “neutral” rating in a research report on Monday, April 25th. SunTrust Banks Inc. downgraded shares of Watsco from a “buy” rating to a “neutral” rating and set a $136.00 target price on the stock. in a research note on Monday, April 25th. They noted that the move was a valuation call. 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 note on Wednesday, June 22nd. Goldman Sachs Group Inc. boosted their target price on shares of Watsco from $120.00 to $132.00 and gave the company a “neutral” rating in a research note on Wednesday, April 20th. Finally, Barclays PLC boosted their target price on shares of Watsco from $104.00 to $111.00 and gave the company an “underweight” rating in a research note on Monday, April 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $136.30.
The stock has a market capitalization of $4.58 billion and a P/E ratio of 28.40. The stock’s 50 day moving average price is $134.91 and its 200-day moving average price is $127.70.
Watsco (NYSE:WSO) last announced its quarterly earnings results on Wednesday, April 20th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by $0.02. The firm had revenue of $851 million for the quarter, compared to the consensus estimate of $845.52 million. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the company posted $0.65 earnings per share. On average, equities analysts predict that Watsco Inc. will post $5.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Friday, July 15th will be given a dividend of $0.85 per share. The ex-dividend date is Wednesday, July 13th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 2.36%.
Several institutional investors have recently made changes to their positions in WSO. OppenheimerFunds Inc. purchased a new position in shares of Watsco during the fourth quarter worth $16,948,000. Eagle Asset Management Inc. bought a new stake in Watsco during the fourth quarter valued at approximately $8,277,000. Sei Investments Co. boosted its stake in Watsco by 105.1% in the fourth quarter. Sei Investments Co. now owns 65,872 shares of the company’s stock valued at $7,716,000 after buying an additional 33,751 shares in the last quarter. Trexquant Investment LP bought a new stake in Watsco during the fourth quarter valued at approximately $1,349,000. Finally, 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 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. It has market coverage on an export basis to Latin America and the Caribbean, through which it serves more than 50,000 contractors and dealers that service the replacement and new construction markets.