Watsco Inc. (WSO) Sets New 1-Year High at $145.99
Watsco Inc. (NYSE:WSO) reached a new 52-week high during trading on Monday . The stock traded as high as $145.99 and last traded at $145.49, with a volume of 64,955 shares changing hands. The stock had previously closed at $144.41.
Several research firms have recently commented on WSO. SunTrust Banks Inc. began coverage on Watsco in a report on Monday, June 6th. They issued a “buy” rating for the company. Zacks Investment Research downgraded Watsco from a “buy” rating to a “hold” rating in a report on Monday, June 27th. JPMorgan Chase & Co. cut their price target on Watsco from $131.00 to $128.00 and set a “neutral” rating for the company in a report on Wednesday, July 27th. Barclays PLC raised their price target on Watsco from $104.00 to $111.00 and gave the company an “underweight” rating in a report on Monday, April 18th. Finally, Seaport Global Securities raised their price target on Watsco from $135.00 to $150.00 and gave the company an “accumulate” rating in a report on Thursday, April 21st. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $138.50.
The stock has a market cap of $4.76 billion and a PE ratio of 29.61. The firm has a 50-day moving average of $141.16 and a 200-day moving average of $132.68.
Watsco (NYSE:WSO) last announced its quarterly earnings results 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. During the same period in the prior year, the business earned $1.85 EPS. The company earned $1.21 billion during the quarter, compared to analyst estimates of $1.29 billion. The company’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities analysts forecast that Watsco Inc. will post $5.30 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were issued a dividend of $0.85 per share. The ex-dividend date of this dividend was Wednesday, July 13th. This represents a $3.40 annualized dividend and a yield of 2.33%.
A number of large investors recently made changes to their positions in WSO. 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 during the period. Trexquant Investment LP bought a new stake in shares of Watsco during the fourth quarter valued at about $1,349,000. Mutual of America Capital Management LLC increased its stake 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 valued at $2,067,000 after buying an additional 531 shares during the period. 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 during the period. Finally, 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 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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