Watsco, Inc. (NYSE:WSO) Given Consensus Rating of “Hold” by Brokerages

Watsco, Inc. (NYSE:WSO – Get Rating) has been given an average recommendation of “Hold” by the seven research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $294.17.

A number of research analysts have issued reports on the company. StockNews.com assumed coverage on Watsco in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. UBS Group assumed coverage on Watsco in a research report on Tuesday, January 10th. They issued a “neutral” rating and a $280.00 target price on the stock. Morgan Stanley lifted their target price on Watsco from $217.00 to $218.00 and gave the company an “underweight” rating in a research report on Wednesday, October 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Watsco from $284.00 to $294.00 in a research report on Monday, October 24th.

Watsco Stock Performance

Watsco stock opened at $275.00 on Wednesday. Watsco has a 12-month low of $220.68 and a 12-month high of $311.86. The company has a quick ratio of 1.09, a current ratio of 2.57 and a debt-to-equity ratio of 0.01. The business’s 50-day moving average price is $264.69 and its two-hundred day moving average price is $267.84. The stock has a market cap of $10.65 billion, a PE ratio of 19.81 and a beta of 0.89.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Tuesday, January 17th will be paid a dividend of $2.45 per share. This represents a $9.80 dividend on an annualized basis and a dividend yield of 3.56%. This is a positive change from Watsco’s previous quarterly dividend of $2.20. The ex-dividend date of this dividend is Friday, January 13th. Watsco’s dividend payout ratio (DPR) is presently 70.61%.

Hedge Funds Weigh In On Watsco

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Amundi acquired a new position in shares of Watsco in the second quarter worth approximately $25,000. Heritage Financial Services LLC acquired a new position in shares of Watsco in the second quarter worth approximately $25,000. Sargent Bickham Lagudis LLC lifted its stake in shares of Watsco by 828.6% in the second quarter. Sargent Bickham Lagudis LLC now owns 130 shares of the construction company’s stock worth $31,000 after acquiring an additional 116 shares during the period. Ronald Blue Trust Inc. acquired a new position in shares of Watsco in the fourth quarter worth approximately $36,000. Finally, Accel Wealth Management lifted its stake in shares of Watsco by 66.7% in the second quarter. Accel Wealth Management now owns 150 shares of the construction company’s stock worth $38,000 after acquiring an additional 60 shares during the period. 84.73% of the stock is owned by institutional investors and hedge funds.

Watsco Company Profile

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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.