Watsco, Inc. (NYSE:WSO) posted its quarterly earnings results on Tuesday. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by $0.06. Watsco had a return on equity of 13.79% and a net margin of 4.10%. The firm had revenue of $913.30 million for the quarter, compared to analyst estimates of $947.76 million. During the same period last year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year.
Watsco (NYSE:WSO) opened at 156.42 on Tuesday. The firm’s 50-day moving average price is $151.21 and its 200 day moving average price is $146.02. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 30.84 and a beta of 0.76. Watsco has a one year low of $123.64 and a one year high of $159.55.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 17th were issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 2.69%. The ex-dividend date of this dividend was Thursday, January 12th. Watsco’s dividend payout ratio (DPR) is 83.00%.
WSO has been the subject of several analyst reports. Stephens downgraded Watsco from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, December 13th. They noted that the move was a valuation call. Morgan Stanley downgraded Watsco from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $160.00 to $152.00 in a research note on Monday, December 19th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $143.64.
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Several hedge funds and other institutional investors have recently modified their holdings of WSO. LaFleur & Godfrey LLC raised its position in shares of Watsco by 4.6% in the second quarter. LaFleur & Godfrey LLC now owns 25,570 shares of the company’s stock valued at $3,597,000 after buying an additional 1,120 shares during the period. Anchor Capital Advisors LLC raised its position in shares of Watsco by 0.8% in the second quarter. Anchor Capital Advisors LLC now owns 5,035 shares of the company’s stock valued at $708,000 after buying an additional 40 shares during the period. BlackRock Advisors LLC raised its position in shares of Watsco by 8.3% in the second quarter. BlackRock Advisors LLC now owns 14,324 shares of the company’s stock valued at $2,015,000 after buying an additional 1,103 shares during the period. Verition Fund Management LLC raised its position in shares of Watsco by 6.8% in the third quarter. Verition Fund Management LLC now owns 5,502 shares of the company’s stock valued at $775,000 after buying an additional 352 shares during the period. Finally, BlackRock Fund Advisors raised its position in shares of Watsco by 0.8% in the third quarter. BlackRock Fund Advisors now owns 1,058,546 shares of the company’s stock valued at $149,149,000 after buying an additional 8,141 shares during the period. 66.86% of the stock is owned by hedge funds and other institutional investors.
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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