Watsco (NYSE:WSO) Research Coverage Started at Raymond James

Raymond James began coverage on shares of Watsco (NYSE:WSO) in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage issued a market perform rating on the construction company’s stock.

Several other analysts also recently commented on the stock. Northcoast Research assumed coverage on shares of Watsco in a research report on Friday, November 22nd. They set a “neutral” rating on the stock. Robert W. Baird decreased their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $488.33.

Watsco Stock Performance

WSO stock opened at $496.92 on Friday. Watsco has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The business’s 50-day moving average is $508.48 and its two-hundred day moving average is $492.50. The company has a market cap of $20.07 billion, a price-to-earnings ratio of 38.40 and a beta of 0.95.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the company posted $4.35 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Equities analysts predict that Watsco will post 12.97 earnings per share for the current year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $2.70 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.17%. Watsco’s dividend payout ratio is presently 83.46%.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.86% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Watsco

Hedge funds have recently modified their holdings of the business. Toronto Dominion Bank lifted its position in shares of Watsco by 32.2% in the 3rd quarter. Toronto Dominion Bank now owns 4,258 shares of the construction company’s stock worth $2,094,000 after purchasing an additional 1,038 shares during the period. Citizens Financial Group Inc. RI raised its stake in shares of Watsco by 40.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 3,217 shares of the construction company’s stock worth $1,582,000 after acquiring an additional 929 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Watsco by 3,571.0% during the 3rd quarter. Larson Financial Group LLC now owns 1,138 shares of the construction company’s stock worth $560,000 after acquiring an additional 1,107 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Watsco by 1.7% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after acquiring an additional 1,074 shares in the last quarter. Finally, Interval Partners LP bought a new position in shares of Watsco during the 2nd quarter worth approximately $11,740,000. 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.