Watsco (NYSE:WSO) Price Target Lowered to $455.00 at UBS Group

Watsco (NYSE:WSO) had its price objective decreased by UBS Group from $475.00 to $455.00 in a research report sent to investors on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the construction company’s stock.

Several other research analysts have also recently issued reports on the stock. Raymond James started coverage on shares of Watsco in a report on Friday, January 17th. They issued a “market perform” rating for the company. Morgan Stanley assumed coverage on Watsco in a research report on Monday, April 14th. They issued an “equal weight” rating and a $515.00 price objective on the stock. Robert W. Baird reduced their target price on Watsco from $560.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Loop Capital boosted their price target on Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $483.57.

Watsco Stock Up 1.4 %

Watsco stock opened at $452.49 on Thursday. Watsco has a twelve month low of $428.30 and a twelve month high of $571.42. The company has a market capitalization of $18.28 billion, a P/E ratio of 34.15 and a beta of 1.00. The stock’s 50 day moving average is $500.36 and its 200 day moving average is $499.01.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.36). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. During the same period in the prior year, the company posted $2.17 earnings per share. As a group, equities analysts expect that Watsco will post 14.62 EPS for the current 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 an increase from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend is Tuesday, April 15th. Watsco’s dividend payout ratio (DPR) is 90.57%.

Institutional Trading of Watsco

Hedge funds have recently bought and sold shares of the company. Manitou Investment Management Ltd. bought a new stake in shares of Watsco during the 1st quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in Watsco during the first quarter valued at approximately $25,000. City Holding Co. purchased a new stake in Watsco during the first quarter valued at approximately $29,000. Rialto Wealth Management LLC bought a new position in Watsco in the fourth quarter worth approximately $31,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Watsco during the 4th quarter worth $36,000. Hedge funds and other institutional investors 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.