Watsco (NYSE:WSO) Given New $460.00 Price Target at Robert W. Baird

Watsco (NYSE:WSO) had its target price upped by Robert W. Baird from $420.00 to $460.00 in a report published on Thursday morning, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Watsco Trading Down 0.2 %

WSO opened at $443.21 on Thursday. Watsco has a 1-year low of $315.17 and a 1-year high of $451.29. The company has a current ratio of 2.92, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. The company has a market cap of $17.51 billion, a P/E ratio of 34.09 and a beta of 0.90. The company has a fifty day moving average price of $412.36 and a two-hundred day moving average price of $399.77.

Watsco (NYSE:WSO) last issued 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). The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.59 billion. Watsco had a net margin of 7.03% and a return on equity of 19.26%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.83 earnings per share. Analysts predict that Watsco will post 14.19 EPS for the current fiscal year.

Watsco Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a dividend of $2.70 per share. 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%. The ex-dividend date is Friday, April 12th. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Trueblood Wealth Management LLC grew its holdings in shares of Watsco by 0.9% during the first quarter. Trueblood Wealth Management LLC now owns 3,603 shares of the construction company’s stock valued at $1,556,000 after buying an additional 32 shares during the last quarter. Conestoga Capital Advisors LLC boosted its holdings in Watsco by 5.3% during the first quarter. Conestoga Capital Advisors LLC now owns 81,097 shares of the construction company’s stock worth $35,031,000 after purchasing an additional 4,090 shares during the last quarter. SlateStone Wealth LLC boosted its holdings in Watsco by 3.9% during the first quarter. SlateStone Wealth LLC now owns 1,803 shares of the construction company’s stock worth $779,000 after purchasing an additional 68 shares during the last quarter. SYSTM Wealth Solutions LLC boosted its holdings in Watsco by 11.6% during the first quarter. SYSTM Wealth Solutions LLC now owns 7,734 shares of the construction company’s stock worth $3,341,000 after purchasing an additional 806 shares during the last quarter. Finally, Shaker Investments LLC OH boosted its holdings in Watsco by 0.3% during the first quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock worth $3,267,000 after purchasing an additional 24 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

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.