Jefferies Financial Group began coverage on shares of Watsco (NYSE:WSO) in a research note released on Friday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $160.00 price target on the construction company’s stock.

A number of other equities research analysts have also weighed in on WSO. Zacks Investment Research upgraded Watsco from a sell rating to a hold rating in a research report on Monday, June 18th. Robert W. Baird lowered Watsco from an outperform rating to a neutral rating and set a $185.00 price objective on the stock. in a research report on Tuesday, July 3rd. ValuEngine lowered Watsco from a buy rating to a hold rating in a research report on Tuesday, October 2nd. Buckingham Research began coverage on Watsco in a research report on Tuesday. They set a neutral rating and a $187.00 price objective on the stock. Finally, Longbow Research lowered Watsco from a buy rating to a neutral rating in a research report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $181.67.

Shares of WSO traded up $0.70 during midday trading on Friday, hitting $163.11. The company’s stock had a trading volume of 288,739 shares, compared to its average volume of 259,165. Watsco has a one year low of $155.57 and a one year high of $192.94. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.43 and a current ratio of 3.10. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 29.76 and a beta of 0.71.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, July 25th. The construction company reported $2.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.47 by ($0.07). Watsco had a net margin of 5.05% and a return on equity of 14.26%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the previous year, the business posted $2.07 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, research analysts forecast that Watsco will post 6.67 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Investors of record on Monday, October 15th will be given a dividend of $1.45 per share. The ex-dividend date of this dividend is Friday, October 12th. This represents a $5.80 dividend on an annualized basis and a yield of 3.56%. Watsco’s dividend payout ratio is currently 105.84%.

A number of hedge funds have recently modified their holdings of WSO. Ostrum Asset Management acquired a new position in Watsco during the 1st quarter worth about $100,000. Bruderman Asset Management LLC acquired a new position in shares of Watsco in the 2nd quarter valued at about $111,000. Ontario Teachers Pension Plan Board acquired a new position in shares of Watsco in the 2nd quarter valued at about $241,000. Stevens Capital Management LP acquired a new position in shares of Watsco in the 2nd quarter valued at about $242,000. Finally, Naples Global Advisors LLC acquired a new position in shares of Watsco in the 2nd quarter valued at about $272,000. Institutional investors and hedge funds own 83.92% of the company’s stock.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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Analyst Recommendations for Watsco (NYSE:WSO)

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