Analysts Set Watsco, Inc. (NYSE:WSO) Target Price at $485.83

Shares of Watsco, Inc. (NYSE:WSO) have been assigned a consensus rating of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $484.17.

Several research firms recently issued reports on WSO. Morgan Stanley set a $505.00 target price on shares of Watsco in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on shares of Watsco from $445.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, May 27th. Mizuho set a $490.00 target price on shares of Watsco in a research note on Thursday, April 24th. UBS Group decreased their target price on shares of Watsco from $455.00 to $450.00 and set a “neutral” rating for the company in a research note on Wednesday, June 25th. Finally, Wall Street Zen upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research note on Friday, May 9th.

Watsco Trading Up 0.2%

Shares of NYSE WSO opened at $457.32 on Wednesday. Watsco has a 12 month low of $418.31 and a 12 month high of $571.42. The company has a 50 day simple moving average of $452.71 and a two-hundred day simple moving average of $477.75. The stock has a market cap of $18.53 billion, a price-to-earnings ratio of 35.15 and a beta of 1.04.

Watsco (NYSE:WSO) last announced its quarterly earnings data on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a net margin of 6.98% and a return on equity of 17.13%. The business had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the previous year, the firm posted $2.17 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis. Analysts forecast that Watsco will post 14.62 EPS for the current year.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be issued a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.62%. Watsco’s payout ratio is presently 92.24%.

Institutional Investors Weigh In On Watsco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in shares of Watsco by 89,376.0% during the first quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company’s stock worth $242,867,000 after buying an additional 477,268 shares in the last quarter. Norges Bank acquired a new position in shares of Watsco during the 4th quarter valued at about $118,312,000. Lord Abbett & CO. LLC acquired a new position in shares of Watsco during the 4th quarter valued at about $104,533,000. Goldman Sachs Group Inc. boosted its position in shares of Watsco by 62.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company’s stock valued at $238,329,000 after acquiring an additional 180,951 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Watsco during the 4th quarter valued at about $63,603,000. 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.