Brokerages Set Watsco, Inc. (NYSE:WSO) PT at $492.00

Watsco, Inc. (NYSE:WSO - Get Free Report) has received a consensus recommendation of "Hold" from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $492.00.

Several analysts have recently issued reports on WSO shares. Raymond James began coverage on shares of Watsco in a research report on Friday, January 17th. They issued a "market perform" rating on the stock. Robert W. Baird upped their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a report on Wednesday, February 19th. Loop Capital raised their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Finally, Morgan Stanley started coverage on shares of Watsco in a report on Monday, April 14th. They issued an "equal weight" rating and a $515.00 price objective for the company.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WSO. Manitou Investment Management Ltd. purchased a new stake in Watsco in the first quarter valued at $25,000. Opal Wealth Advisors LLC acquired a new stake in shares of Watsco during the 1st quarter worth about $25,000. City Holding Co. purchased a new stake in Watsco in the 1st quarter valued at about $29,000. Rialto Wealth Management LLC purchased a new position in Watsco during the fourth quarter worth about $31,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco in the 4th quarter valued at approximately $36,000. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Watsco Price Performance

NYSE WSO traded up $9.94 during trading hours on Friday, reaching $507.62. The company's stock had a trading volume of 272,958 shares, compared to its average volume of 253,935. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 38.31 and a beta of 1.00. The company's 50-day moving average is $500.71 and its two-hundred day moving average is $499.36. Watsco has a 1-year low of $396.82 and a 1-year high of $571.42.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.13 by $0.24. The firm had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Equities analysts forecast that Watsco will post 14.62 EPS for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be paid a $3.00 dividend. This is a boost from Watsco's previous quarterly dividend of $2.70. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $12.00 annualized dividend and a dividend yield of 2.36%. Watsco's dividend payout ratio is 90.57%.

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.