Watsco (NYSE:WSO) released its quarterly earnings results on Thursday. The construction company reported $1.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.04), MarketWatch Earnings reports. Watsco had a net margin of 5.15% and a return on equity of 14.00%. The business had revenue of $991.32 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the business earned $1.19 earnings per share. The company’s revenue for the quarter was up 2.8% on a year-over-year basis.
NYSE WSO opened at $143.08 on Friday. The firm has a market capitalization of $5.73 billion, a PE ratio of 26.11, a PEG ratio of 1.75 and a beta of 0.96. Watsco has a 52 week low of $131.88 and a 52 week high of $192.94.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Wednesday, January 16th were paid a $1.60 dividend. This is a boost from Watsco’s previous quarterly dividend of $1.45. This represents a $6.40 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend was Tuesday, January 15th. Watsco’s dividend payout ratio (DPR) is 116.79%.
Several institutional investors have recently made changes to their positions in the stock. Park National Corp OH grew its stake in shares of Watsco by 7.1% during the fourth quarter. Park National Corp OH now owns 1,666 shares of the construction company’s stock worth $232,000 after purchasing an additional 111 shares during the period. First Hawaiian Bank grew its stake in shares of Watsco by 16.8% during the fourth quarter. First Hawaiian Bank now owns 885 shares of the construction company’s stock worth $123,000 after purchasing an additional 127 shares during the period. Redmond Asset Management LLC grew its stake in shares of Watsco by 1.1% during the fourth quarter. Redmond Asset Management LLC now owns 18,384 shares of the construction company’s stock worth $2,558,000 after purchasing an additional 199 shares during the period. Virginia Retirement Systems ET AL grew its stake in shares of Watsco by 2.7% during the fourth quarter. Virginia Retirement Systems ET AL now owns 7,600 shares of the construction company’s stock worth $1,057,000 after purchasing an additional 200 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Watsco by 13.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,164 shares of the construction company’s stock worth $301,000 after purchasing an additional 252 shares during the period. 85.75% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently weighed in on WSO shares. Buckingham Research dropped their price target on Watsco from $187.00 to $167.00 and set a “neutral” rating for the company in a report on Friday, October 26th. Zacks Investment Research reissued a “sell” rating on shares of Watsco in a research note on Saturday, November 17th. Finally, Morgan Stanley began coverage on Watsco in a research note on Tuesday, December 18th. They issued an “equal weight” rating and a $144.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $176.00.
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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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