Watsco (NYSE:WSO) Sets New 1-Year High at $489.43

Watsco, Inc. (NYSE:WSO)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $489.43 and last traded at $488.01, with a volume of 61628 shares changing hands. The stock had previously closed at $478.81.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Robert W. Baird upped their price target on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Stephens reissued an “overweight” rating and set a $500.00 price target on shares of Watsco in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $404.25.

Watsco Trading Up 2.1 %

The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The firm has a market cap of $19.71 billion, a P/E ratio of 36.88 and a beta of 0.86. The firm’s 50-day simple moving average is $442.45 and its 200 day simple moving average is $413.90.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing the consensus estimate of $2.26 by ($0.09). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The firm had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter in the previous year, the company posted $2.83 EPS. Watsco’s revenue for the quarter was up .9% on a year-over-year basis. As a group, analysts expect that Watsco, Inc. will post 14.26 earnings per share for the current year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Monday, April 15th were paid a $2.70 dividend. 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 yield of 2.21%. The ex-dividend date was Friday, April 12th. Watsco’s payout ratio is currently 83.08%.

Insider Buying and Selling at Watsco

In related news, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total value of $2,487,830.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John Alexander Macdonald sold 5,334 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $466.41, for a total transaction of $2,487,830.94. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Barry S. Logan sold 774 shares of the firm’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the completion of the transaction, the executive vice president now directly owns 1,770 shares of the company’s stock, valued at $838,714.50. The disclosure for this sale can be found here. Insiders own 12.86% of the company’s stock.

Institutional Trading of Watsco

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Teacher Retirement System of Texas grew its position in Watsco by 2.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 2,589 shares of the construction company’s stock worth $978,000 after acquiring an additional 71 shares during the last quarter. M&T Bank Corp increased its stake in shares of Watsco by 3.1% in the third quarter. M&T Bank Corp now owns 1,989 shares of the construction company’s stock worth $751,000 after buying an additional 60 shares during the period. Private Advisor Group LLC raised its holdings in Watsco by 4.0% during the 3rd quarter. Private Advisor Group LLC now owns 2,082 shares of the construction company’s stock valued at $786,000 after buying an additional 80 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Watsco by 13.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 9,155 shares of the construction company’s stock valued at $3,458,000 after buying an additional 1,100 shares during the period. Finally, Signaturefd LLC boosted its position in Watsco by 31.7% during the 3rd quarter. Signaturefd LLC now owns 677 shares of the construction company’s stock valued at $256,000 after buying an additional 163 shares during the period. Hedge funds and other institutional investors own 89.71% of the company’s stock.

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.