Watsco (NYSE:WSO) Coverage Initiated by Analysts at Raymond James

Raymond James initiated coverage on shares of Watsco (NYSE:WSO - Free Report) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage issued a market perform rating on the construction company's stock.

Several other research firms have also commented on WSO. Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. Robert W. Baird decreased their price objective on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $488.33.

Watsco Price Performance

Watsco stock traded up $7.39 during midday trading on Friday, hitting $495.79. The company's stock had a trading volume of 92,749 shares, compared to its average volume of 229,382. The company has a market cap of $20.02 billion, a price-to-earnings ratio of 38.32 and a beta of 0.95. Watsco has a 1-year low of $373.33 and a 1-year high of $571.41. The company has a 50-day moving average price of $509.11 and a two-hundred day moving average price of $492.08.

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

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $2.70 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.18%. Watsco's dividend payout ratio (DPR) is currently 83.46%.

Insider Activity

In related news, EVP Barry S. Logan sold 10,998 shares of the firm's stock in a transaction 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 SEC, which is accessible through the SEC website. 12.86% of the stock is currently owned by corporate insiders.

Institutional Trading of Watsco

Several hedge funds and other institutional investors have recently made changes to their positions in the company. J. W. Coons Advisors LLC boosted its position in Watsco by 0.7% during the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company's stock worth $1,475,000 after buying an additional 20 shares during the period. My Legacy Advisors LLC lifted its holdings in shares of Watsco by 3.2% during the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company's stock worth $329,000 after purchasing an additional 21 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company's stock worth $46,000 after purchasing an additional 22 shares during the last quarter. CWM LLC increased its holdings in Watsco by 2.6% in the third quarter. CWM LLC now owns 952 shares of the construction company's stock valued at $468,000 after purchasing an additional 24 shares during the period. Finally, MCF Advisors LLC raised its position in Watsco by 27.8% during the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company's stock worth $57,000 after purchasing an additional 25 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

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.