Brokerages Set Watsco, Inc. (NYSE:WSO) PT at $495.00

Shares of Watsco, Inc. (NYSE:WSO) have received a consensus recommendation of “Hold” from the six ratings firms that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $486.25.

Several research analysts recently weighed in on WSO shares. Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Robert W. Baird boosted their target price on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 19th. Northcoast Research initiated coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating for the company. Finally, Loop Capital boosted their price objective on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th.

Insider Activity at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.86% of the stock is currently owned by corporate insiders.

Institutional Trading of Watsco

A number of hedge funds have recently modified their holdings of the company. Forsta AP Fonden raised its holdings in Watsco by 9.9% in the third quarter. Forsta AP Fonden now owns 7,800 shares of the construction company’s stock worth $3,837,000 after purchasing an additional 700 shares during the period. Arkadios Wealth Advisors raised its stake in Watsco by 19.5% during the 3rd quarter. Arkadios Wealth Advisors now owns 644 shares of the construction company’s stock worth $317,000 after buying an additional 105 shares during the period. State of Alaska Department of Revenue raised its stake in Watsco by 16.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 4,037 shares of the construction company’s stock worth $1,985,000 after buying an additional 560 shares during the period. abrdn plc lifted its holdings in Watsco by 1.2% during the third quarter. abrdn plc now owns 14,996 shares of the construction company’s stock worth $7,378,000 after acquiring an additional 172 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in Watsco by 8.0% in the third quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the construction company’s stock valued at $929,000 after acquiring an additional 140 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Stock Performance

Shares of NYSE:WSO opened at $493.08 on Thursday. The business has a fifty day moving average of $485.33 and a 200-day moving average of $493.65. Watsco has a twelve month low of $388.47 and a twelve month high of $571.41. The firm has a market cap of $19.91 billion, a PE ratio of 37.21 and a beta of 0.95.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The firm had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion. On average, analysts anticipate that Watsco will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were paid a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.19%. Watsco’s dividend payout ratio (DPR) is presently 81.51%.

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.