Watsco Inc to Issue Quarterly Dividend of $1.25 (WSO)
Watsco Inc (NYSE:WSO) declared a quarterly dividend on Tuesday, January 2nd, RTT News reports. Stockholders of record on Tuesday, January 16th will be given a dividend of 1.25 per share by the construction company on Wednesday, January 31st. This represents a $5.00 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, January 12th.
Watsco has raised its dividend payment by an average of 32.0% per year over the last three years and has raised its dividend every year for the last 4 years. Watsco has a dividend payout ratio of 89.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Watsco to earn $6.36 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 78.6%.
Watsco (NYSE:WSO) opened at $171.69 on Thursday. Watsco has a 52 week low of $134.08 and a 52 week high of $174.84. The company has a quick ratio of 1.42, a current ratio of 3.13 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $6,140.00, a P/E ratio of 31.50 and a beta of 0.83.
Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 25th. The construction company reported $1.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.95 by ($0.13). Watsco had a net margin of 4.46% and a return on equity of 15.00%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company earned $1.78 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. analysts expect that Watsco will post 5.59 EPS for the current fiscal year.
A number of analysts have weighed in on WSO shares. Zacks Investment Research downgraded shares of Watsco from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Morgan Stanley increased their target price on shares of Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a research report on Thursday, October 26th. Finally, KeyCorp reissued a “buy” rating on shares of Watsco in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $160.40.
In other Watsco news, SVP Barry S. Logan sold 3,246 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $164.30, for a total transaction of $533,317.80. Following the completion of the sale, the senior vice president now owns 15,800 shares of the company’s stock, valued at approximately $2,595,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 13.93% 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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