Watsco Inc. (NYSE:WSO) announced a quarterly dividend on Monday, October 3rd. Shareholders of record on Monday, October 17th will be paid a dividend of 1.05 per share on Monday, October 31st. This represents a $4.20 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, October 13th. This is a positive change from Watsco’s previous quarterly dividend of $0.85.
Shares of Watsco (NYSE:WSO) opened at 144.32 on Friday. The firm has a 50-day moving average price of $144.05 and a 200-day moving average price of $138.59. The stock has a market cap of $4.70 billion, a PE ratio of 29.24 and a beta of 0.94. Watsco has a 12 month low of $106.58 and a 12 month high of $149.99.
Watsco (NYSE:WSO) last posted its quarterly earnings data on Friday, July 22nd. The company reported $1.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.04 by $0.22. The business earned $1.21 billion during the quarter, compared to analyst estimates of $1.29 billion. Watsco had a return on equity of 13.65% and a net margin of 4.05%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.85 EPS. Equities analysts forecast that Watsco will post $5.31 EPS for the current year.
Several institutional investors have recently modified their holdings of WSO. BlackRock Fund Advisors boosted its position in shares of Watsco by 3.9% in the second quarter. BlackRock Fund Advisors now owns 1,050,405 shares of the company’s stock valued at $147,781,000 after buying an additional 39,647 shares during the period. State Street Corp boosted its position in shares of Watsco by 0.7% in the second quarter. State Street Corp now owns 698,119 shares of the company’s stock valued at $98,217,000 after buying an additional 4,722 shares during the period. Columbia Wanger Asset Management LLC acquired a new position in shares of Watsco during the second quarter valued at $45,963,000. BlackRock Investment Management LLC raised its position in shares of Watsco by 3.3% in the second quarter. BlackRock Investment Management LLC now owns 73,498 shares of the company’s stock valued at $10,340,000 after buying an additional 2,370 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of Watsco by 74.0% in the second quarter. AQR Capital Management LLC now owns 61,080 shares of the company’s stock valued at $8,593,000 after buying an additional 25,985 shares in the last quarter. 67.33% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on WSO. JPMorgan Chase & Co. lowered their price objective on Watsco from $131.00 to $128.00 and set a “neutral” rating for the company in a research report on Wednesday, July 27th. Stifel Nicolaus lowered their price objective on Watsco from $154.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, July 25th. Barclays PLC set a $113.00 price objective on Watsco and gave the stock a “sell” rating in a research report on Monday, July 25th. Zacks Investment Research cut Watsco from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Finally, Seaport Global Securities cut Watsco from an “accumulate” rating to a “neutral” rating and set a $150.00 price target for the company. in a research report on Monday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $138.50.
Watsco Company Profile
Watsco, Inc (Watsco) is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R). The Company operates in the HVAC/R distribution industry in North America. The Company operates at approximately 570 locations in over 40 United States’ states, Canada, Mexico and Puerto Rico.
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