Watsco (WSO) – Investment Analysts’ Recent Ratings Changes

Watsco (NYSE: WSO) recently received a number of ratings updates from brokerages and research firms:

  • 4/30/2022 – Watsco was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 4/22/2022 – Watsco had its price target lowered by analysts at Morgan Stanley from $288.00 to $277.00. They now have an “equal weight” rating on the stock.
  • 4/22/2022 – Watsco was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 4/22/2022 – Watsco had its price target raised by analysts at Robert W. Baird from $300.00 to $350.00.
  • 4/9/2022 – Watsco was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 4/1/2022 – Watsco was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 3/24/2022 – Watsco was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
  • 3/16/2022 – Watsco was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 3/8/2022 – Watsco was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Shares of NYSE WSO traded up $0.37 during midday trading on Tuesday, hitting $266.76. 1,541 shares of the company’s stock were exchanged, compared to its average volume of 294,922. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.77 and a quick ratio of 1.11. Watsco, Inc. has a twelve month low of $252.50 and a twelve month high of $318.98. The company has a market cap of $10.37 billion, a PE ratio of 21.78 and a beta of 0.88. The firm’s fifty day simple moving average is $289.70 and its 200-day simple moving average is $292.01.

Watsco (NYSE:WSOGet Rating) last issued its earnings results on Thursday, April 21st. The construction company reported $2.90 earnings per share for the quarter, topping the consensus estimate of $1.80 by $1.10. Watsco had a return on equity of 23.76% and a net margin of 7.16%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the company earned $1.39 EPS. The business’s quarterly revenue was up 34.1% on a year-over-year basis. Equities analysts anticipate that Watsco, Inc. will post 13.97 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 29th. Stockholders of record on Thursday, April 14th were given a dividend of $2.20 per share. This represents a $8.80 annualized dividend and a dividend yield of 3.30%. The ex-dividend date was Wednesday, April 13th. This is a positive change from Watsco’s previous quarterly dividend of $1.95. Watsco’s dividend payout ratio (DPR) is 71.84%.

In other Watsco news, Director Brian E. Keeley sold 11,000 shares of Watsco stock in a transaction that occurred on Wednesday, March 23rd. The stock was sold at an average price of $299.68, for a total transaction of $3,296,480.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 13.31% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Watsco in the fourth quarter valued at approximately $82,594,000. BlackRock Inc. increased its holdings in shares of Watsco by 4.0% in the fourth quarter. BlackRock Inc. now owns 3,677,204 shares of the construction company’s stock valued at $1,150,524,000 after purchasing an additional 141,426 shares during the period. Capital World Investors increased its holdings in shares of Watsco by 11.3% in the fourth quarter. Capital World Investors now owns 1,124,403 shares of the construction company’s stock valued at $351,803,000 after purchasing an additional 114,330 shares during the period. Balyasny Asset Management LLC increased its holdings in shares of Watsco by 413.4% in the third quarter. Balyasny Asset Management LLC now owns 125,344 shares of the construction company’s stock valued at $33,169,000 after purchasing an additional 100,930 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Watsco by 805.1% in the third quarter. Millennium Management LLC now owns 102,258 shares of the construction company’s stock valued at $27,060,000 after purchasing an additional 90,960 shares during the period. 78.13% of the stock is currently owned by institutional investors.

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.

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