Brokerages Set Watsco, Inc. (NYSE:WSO) PT at $404.14

Watsco, Inc. (NYSE:WSO) has been given an average recommendation of “Hold” by the ten ratings firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $404.1429.

Several analysts have recently weighed in on WSO shares. Zacks Research lowered Watsco from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 13th. KeyCorp reissued a “sector weight” rating on shares of Watsco in a report on Friday, December 12th. UBS Group began coverage on shares of Watsco in a report on Monday, January 5th. They set a “neutral” rating and a $370.00 price objective on the stock. Mizuho dropped their target price on Watsco from $400.00 to $370.00 and set a “neutral” rating for the company in a research report on Monday, January 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Watsco from $360.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, January 16th.

Institutional Investors Weigh In On Watsco

Several large investors have recently modified their holdings of the business. Capital International Investors raised its holdings in Watsco by 103.1% during the fourth quarter. Capital International Investors now owns 4,642,893 shares of the construction company’s stock worth $1,564,423,000 after acquiring an additional 2,356,998 shares in the last quarter. M&T Bank Corp boosted its holdings in shares of Watsco by 60,779.4% during the fourth quarter. M&T Bank Corp now owns 599,662 shares of the construction company’s stock worth $202,056,000 after acquiring an additional 598,677 shares during the period. Norges Bank acquired a new position in Watsco in the 4th quarter valued at $110,853,000. Two Sigma Investments LP grew its stake in shares of Watsco by 12,054.4% in the third quarter. Two Sigma Investments LP now owns 173,078 shares of the construction company’s stock valued at $69,975,000 after acquiring an additional 171,654 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Watsco by 120.9% during the fourth quarter. Renaissance Technologies LLC now owns 305,280 shares of the construction company’s stock worth $102,864,000 after buying an additional 167,080 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors.

Watsco Trading Up 1.0%

WSO opened at $419.33 on Thursday. The business has a 50 day moving average of $371.41 and a 200-day moving average of $379.18. The stock has a market capitalization of $17.01 billion, a price-to-earnings ratio of 32.76 and a beta of 1.04. Watsco has a 1-year low of $323.05 and a 1-year high of $535.40.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were issued a dividend of $3.00 per share. The ex-dividend date was Friday, January 16th. This represents a $12.00 dividend on an annualized basis and a yield of 2.9%. Watsco’s payout ratio is currently 93.75%.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.