Watsco (NYSE:WSO) Hits New 52-Week High at $482.30

Watsco, Inc. (NYSE:WSO)’s stock price hit a new 52-week high on Monday . The stock traded as high as $482.30 and last traded at $481.40, with a volume of 6768 shares changing hands. The stock had previously closed at $479.26.

Analyst Ratings Changes

Several analysts recently weighed in on WSO shares. Stephens restated an “overweight” rating and set a $500.00 target price on shares of Watsco in a research note on Thursday, April 25th. Robert W. Baird increased their target price on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $404.25.

Watsco Price Performance

The stock has a 50-day simple moving average of $427.64 and a 200 day simple moving average of $406.65. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92. The company has a market cap of $18.89 billion, a P/E ratio of 36.87 and a beta of 0.86.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) 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 company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company posted $2.83 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts expect that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $2.70 dividend. The ex-dividend date was Friday, April 12th. This is a boost from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.26%. Watsco’s dividend payout ratio is presently 83.08%.

Hedge Funds Weigh In On Watsco

A number of hedge funds have recently modified their holdings of the stock. Shaker Investments LLC OH raised its holdings in shares of Watsco by 0.3% in the 1st quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock worth $3,267,000 after buying an additional 24 shares in the last quarter. Hartford Financial Management Inc. increased its holdings in Watsco by 53.1% during the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after purchasing an additional 26 shares in the last quarter. Advisor OS LLC increased its holdings in Watsco by 1.1% during the 3rd quarter. Advisor OS LLC now owns 2,693 shares of the construction company’s stock valued at $1,017,000 after purchasing an additional 28 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in Watsco by 35.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock valued at $41,000 after purchasing an additional 28 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in Watsco by 53.8% during the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock valued at $34,000 after purchasing an additional 28 shares in the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

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.