Watsco Inc (NYSE:WSO) declared a quarterly dividend on Wednesday, January 2nd, RTT News reports. Stockholders of record on Wednesday, January 16th will be paid a dividend of 1.60 per share by the construction company on Thursday, January 31st. This represents a $6.40 annualized dividend and a dividend yield of 4.47%. The ex-dividend date is Tuesday, January 15th. This is an increase from Watsco’s previous quarterly dividend of $1.45.
Watsco has increased its dividend by an average of 26.0% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Watsco has a payout ratio of 96.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Watsco to earn $7.00 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 91.4%.
Shares of WSO stock opened at $143.02 on Monday. The firm has a market capitalization of $5.29 billion, a PE ratio of 26.10, a PEG ratio of 1.61 and a beta of 0.96. Watsco has a twelve month low of $131.88 and a twelve month high of $192.94.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Thursday, October 25th. The construction company reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.15). The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. Watsco had a net margin of 5.15% and a return on equity of 14.00%. During the same period in the prior year, the company earned $1.82 earnings per share. As a group, analysts anticipate that Watsco will post 6.46 EPS for the current fiscal year.
In related news, SVP Barry S. Logan sold 2,500 shares of the stock in a transaction dated Thursday, December 20th. The shares were sold at an average price of $141.27, for a total value of $353,175.00. Following the sale, the senior vice president now owns 13,300 shares of the company’s stock, valued at approximately $1,878,891. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 13.45% of the stock is owned by company insiders.
WSO has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $197.00 price target on the stock in a report on Thursday, September 27th. Buckingham Research cut their price target on shares of Watsco from $187.00 to $167.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. Jefferies Financial Group initiated coverage on shares of Watsco in a report on Friday, October 12th. They issued a “hold” rating and a $160.00 price target on the stock. JPMorgan Chase & Co. cut shares of Watsco from a “neutral” rating to an “underweight” rating and upped their price target for the company from $166.00 to $176.00 in a report on Friday, September 21st. Finally, Morgan Stanley assumed coverage on shares of Watsco in a report on Tuesday, December 18th. They issued an “equal weight” rating and a $144.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Watsco currently has a consensus rating of “Hold” and a consensus price target of $178.11.
Watsco Company Profile
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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