Watsco (NYSE:WSO) Price Target Increased to $460.00 by Analysts at Robert W. Baird

Watsco (NYSE:WSO) had its price objective lifted by Robert W. Baird from $420.00 to $460.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an outperform rating on the construction company’s stock.

Watsco Trading Up 0.7 %

Shares of WSO stock opened at $443.83 on Thursday. Watsco has a 1 year low of $315.17 and a 1 year high of $451.29. The firm’s fifty day simple moving average is $411.12 and its 200 day simple moving average is $399.44. The firm has a market capitalization of $17.53 billion, a P/E ratio of 34.14 and a beta of 0.90. The company has a current ratio of 2.92, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the prior year, the firm earned $2.83 EPS. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, sell-side analysts predict that Watsco will post 14.19 EPS for the current year.

Watsco Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a $2.70 dividend. This represents a $10.80 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, April 12th. This is an increase from Watsco’s previous quarterly dividend of $2.45. Watsco’s payout ratio is currently 83.08%.

Institutional Investors Weigh In On Watsco

Institutional investors and hedge funds have recently made changes to their positions in the company. Wetzel Investment Advisors Inc. acquired a new stake in shares of Watsco in the 4th quarter valued at $25,000. First PREMIER Bank acquired a new position in Watsco during the 1st quarter worth about $25,000. Contravisory Investment Management Inc. acquired a new position in Watsco during the 4th quarter worth about $26,000. Cullen Frost Bankers Inc. acquired a new position in Watsco during the 4th quarter worth about $28,000. Finally, Rise Advisors LLC acquired a new position in Watsco during the 4th quarter worth about $30,000. Institutional investors and hedge funds 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.