Stephens Reiterates Overweight Rating for Watsco (NYSE:WSO)

Stephens restated their overweight rating on shares of Watsco (NYSE:WSO) in a research report report published on Thursday morning, Benzinga reports. They currently have a $500.00 target price on the construction company’s stock.

Separately, Robert W. Baird lifted their price target on shares of Watsco from $420.00 to $460.00 and gave the stock an outperform rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Hold and an average price target of $404.25.

Watsco Stock Performance

Watsco stock opened at $443.21 on Thursday. The company’s 50-day moving average price is $412.36 and its 200-day moving average price is $399.74. Watsco has a twelve month low of $315.17 and a twelve month high of $451.29. The company has a quick ratio of 1.47, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The company has a market cap of $17.51 billion, a PE ratio of 34.09 and a beta of 0.90.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the firm earned $2.83 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, equities research analysts forecast that Watsco will post 14.25 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $2.70 per share. The ex-dividend date of this dividend is Friday, April 12th. This is a boost from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.44%. Watsco’s payout ratio is currently 83.08%.

Institutional Investors Weigh In On Watsco

Several large investors have recently added to or reduced their stakes in the stock. Shaker Investments LLC OH boosted its position in Watsco by 0.3% in the 1st quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock valued at $3,267,000 after buying an additional 24 shares during the period. Hartford Financial Management Inc. boosted its position in Watsco by 53.1% in the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after buying an additional 26 shares during the period. Advisor OS LLC boosted its position in Watsco by 1.1% in the 3rd quarter. Advisor OS LLC now owns 2,693 shares of the construction company’s stock valued at $1,017,000 after buying an additional 28 shares during the period. Raleigh Capital Management Inc. boosted its position in Watsco by 35.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock valued at $41,000 after buying an additional 28 shares during the period. Finally, Lindbrook Capital LLC boosted its position in Watsco by 53.8% in the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock valued at $34,000 after buying an additional 28 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.