Watsco (NYSE:WSO) Now Covered by Raymond James

Raymond James initiated coverage on shares of Watsco (NYSE:WSO) in a report issued on Friday morning, Marketbeat reports. The firm issued a market perform rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on the company. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They issued a “neutral” rating for the company. Robert W. Baird reduced their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $488.33.

Watsco Stock Up 1.2 %

WSO opened at $496.92 on Friday. Watsco has a twelve month low of $373.33 and a twelve month high of $571.41. The company has a fifty day moving average of $508.48 and a 200-day moving average of $492.31. The stock has a market cap of $20.07 billion, a PE ratio of 38.40 and a beta of 0.95.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period last year, the company posted $4.35 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. Sell-side analysts anticipate that Watsco will post 12.97 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Friday, January 17th. Watsco’s payout ratio is 83.46%.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.86% of the company’s stock.

Institutional Trading of Watsco

Several hedge funds have recently bought and sold shares of the business. Quarry LP bought a new position in shares of Watsco in the second quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco in the 3rd quarter worth about $43,000. Massmutual Trust Co. FSB ADV lifted its position in Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares in the last quarter. Brooklyn Investment Group bought a new position in Watsco in the 3rd quarter valued at about $48,000. Finally, MCF Advisors LLC boosted its stake in Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after purchasing an additional 25 shares during the last quarter. Institutional investors and hedge funds 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.