Watsco Inc. (WSO) Sets New 12-Month High at $144.99
Shares of Watsco Inc. (NYSE:WSO) hit a new 52-week high during trading on Friday . The company 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.
A number of brokerages have commented on WSO. JPMorgan Chase & Co. reduced their price objective on Watsco from $131.00 to $128.00 and set a “neutral” rating for the company in a research report on Wednesday. Stifel Nicolaus reduced their price objective on Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. Barclays PLC set a $113.00 price objective on Watsco and gave the stock a “sell” rating in a research report on Monday. Seaport Global Securities downgraded Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price objective for the company. in a research report on Monday. Finally, Zacks Investment Research downgraded Watsco from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $138.50.
The stock’s 50-day moving average is $138.55 and its 200 day moving average is $130.24. The firm has a market capitalization of $4.70 billion and a PE ratio of 29.19.
Watsco (NYSE:WSO) last announced its quarterly earnings results on Friday, July 22nd. The company reported $1.82 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by $0.22. During the same quarter in the previous year, the business posted $1.85 earnings per share. The business earned $1.21 billion during the quarter, compared to analysts’ expectations of $1.29 billion. The firm’s revenue was down .7% on a year-over-year basis. 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 will be paid on Friday, July 29th. Shareholders of record on Friday, July 15th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Wednesday, July 13th.
A number of institutional investors have made changes to their positions in the company. California Public Employees Retirement System increased its position in shares of 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. OppenheimerFunds Inc. acquired a new position in shares of Watsco during the fourth quarter worth $16,948,000. Liberty Mutual Group Asset Management Inc. increased its position in shares of 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. Mutual of America Capital Management LLC increased its position in shares of Watsco by 3.1% in the fourth quarter. Mutual of America Capital Management LLC now owns 17,650 shares of the company’s stock worth $2,067,000 after buying an additional 531 shares during the period. Finally, Bank of Montreal Can increased its position 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 worth $14,686,000 after buying an additional 1,488 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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