Watsco, Inc. (NYSE:WSO) Receives $484.17 Average Price Target from Analysts

Shares of Watsco, Inc. (NYSE:WSO) have received a consensus recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $484.17.

Several brokerages have weighed in on WSO. Wall Street Zen raised Watsco from a “sell” rating to a “hold” rating in a report on Friday, May 9th. JPMorgan Chase & Co. boosted their price target on Watsco from $445.00 to $460.00 and gave the company a “neutral” rating in a research note on Tuesday, May 27th. Morgan Stanley set a $505.00 price objective on shares of Watsco in a research report on Wednesday, July 2nd. Mizuho set a $490.00 target price on shares of Watsco in a report on Thursday, April 24th. Finally, UBS Group cut their price target on shares of Watsco from $455.00 to $450.00 and set a “neutral” rating for the company in a report on Wednesday, June 25th.

Watsco Trading Down 3.2%

Shares of WSO stock opened at $464.72 on Friday. The stock has a market cap of $18.83 billion, a P/E ratio of 35.72 and a beta of 1.04. Watsco has a 1 year low of $418.31 and a 1 year high of $571.41. The stock has a 50 day simple moving average of $452.92 and a 200 day simple moving average of $477.33.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Wednesday, July 16th will be issued a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Wednesday, July 16th. Watsco’s dividend payout ratio (DPR) is presently 92.24%.

Hedge Funds Weigh In On Watsco

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in Watsco by 89,376.0% during the 1st quarter. GAMMA Investing LLC now owns 477,802 shares of the construction company’s stock worth $242,867,000 after buying an additional 477,268 shares during the period. Norges Bank bought a new position in shares of Watsco during the fourth quarter valued at $118,312,000. Lord Abbett & CO. LLC acquired a new position in shares of Watsco during the fourth quarter worth $104,533,000. Goldman Sachs Group Inc. grew its stake in shares of Watsco by 62.8% in the first quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company’s stock worth $238,329,000 after purchasing an additional 180,951 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in shares of Watsco in the first quarter worth $54,536,000. Institutional investors own 89.71% of the company’s stock.

About Watsco

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.