Watsco (NYSE:WSO) Hits New 52-Week High at $476.67

Shares of Watsco, Inc. (NYSE:WSO) reached a new 52-week high on Tuesday . The stock traded as high as $476.67 and last traded at $474.60, with a volume of 7986 shares traded. The stock had previously closed at $472.35.

Analyst Upgrades and Downgrades

WSO has been the subject of several research analyst reports. Robert W. Baird lifted their target price on shares of Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Stephens reaffirmed an “overweight” rating and set a $500.00 price objective on shares of Watsco in a report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $404.25.

Watsco Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92. The stock’s 50 day moving average price is $421.34 and its 200-day moving average price is $403.06. The company has a market cap of $18.77 billion, a PE ratio of 36.35 and a beta of 0.86.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the business posted $2.83 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts predict that Watsco, Inc. will post 14.26 earnings per share for the current year.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th were paid a $2.70 dividend. 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 yield of 2.27%. The ex-dividend date of this dividend was Friday, April 12th. Watsco’s payout ratio is 83.08%.

Institutional Trading of Watsco

Institutional investors have recently made changes to their positions in the stock. Shaker Investments LLC OH increased its holdings in Watsco by 0.3% during the 1st quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock valued at $3,267,000 after purchasing an additional 24 shares during the period. Hartford Financial Management Inc. increased its stake in shares of Watsco by 53.1% during the fourth 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 raised its holdings in shares of Watsco by 1.1% during the third quarter. Advisor OS LLC now owns 2,693 shares of the construction company’s stock valued at $1,017,000 after acquiring an additional 28 shares in the last quarter. Raleigh Capital Management Inc. lifted its stake in Watsco by 35.0% in the third quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock worth $41,000 after acquiring an additional 28 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in Watsco by 53.8% in the fourth quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock valued at $34,000 after acquiring an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

About Watsco

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.