Watsco, Inc. (WSO) Upgraded by BidaskClub to Buy
BidaskClub upgraded shares of Watsco, Inc. (NYSE:WSO) from a hold rating to a buy rating in a report published on Tuesday.
Several other brokerages have also recently weighed in on WSO. Zacks Investment Research upgraded Watsco from a hold rating to a buy rating and set a $173.00 target price for the company in a report on Tuesday, June 27th. Stifel Nicolaus reiterated a buy rating and issued a $176.00 target price (up from $163.00) on shares of Watsco in a report on Friday, June 23rd. Seaport Global Securities upgraded Watsco from a neutral rating to a buy rating and upped their target price for the stock from $145.00 to $160.00 in a report on Wednesday, April 26th. Wolfe Research started coverage on Watsco in a report on Tuesday, July 11th. They issued a market perform rating for the company. Finally, Morgan Stanley reiterated an underweight rating and issued a $141.00 target price (up from $139.00) on shares of Watsco in a report on Wednesday, July 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $163.20.
Shares of Watsco (NYSE:WSO) traded down 0.78% during mid-day trading on Tuesday, reaching $149.93. The company had a trading volume of 65,240 shares. Watsco has a 1-year low of $128.60 and a 1-year high of $159.55. The firm has a 50-day moving average price of $152.15 and a 200-day moving average price of $147.08. The stock has a market capitalization of $4.90 billion, a price-to-earnings ratio of 27.72 and a beta of 0.83.
Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.05. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. During the same quarter in the previous year, the business earned $1.82 EPS. Watsco’s revenue was up 5.1% compared to the same quarter last year. Equities analysts expect that Watsco will post $5.78 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Investors of record on Monday, July 17th were paid a dividend of $1.25 per share. This is a boost from Watsco’s previous quarterly dividend of $1.05. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Thursday, July 13th. Watsco’s dividend payout ratio is 93.11%.
Several large investors have recently modified their holdings of WSO. UBS Group AG boosted its stake in shares of Watsco by 67.0% in the first quarter. UBS Group AG now owns 32,815 shares of the construction company’s stock worth $4,698,000 after buying an additional 13,165 shares during the period. Private Trust Co. NA bought a new stake in shares of Watsco during the first quarter worth $463,000. Point72 Asset Management L.P. bought a new stake in shares of Watsco during the first quarter worth $10,796,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Watsco by 41.3% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,174 shares of the construction company’s stock worth $168,000 after buying an additional 343 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in shares of Watsco by 13.9% in the first quarter. William Blair Investment Management LLC now owns 241,082 shares of the construction company’s stock worth $34,518,000 after buying an additional 29,423 shares during the period. Hedge funds and other institutional investors own 81.16% of the company’s stock.
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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