Watsco Inc (NYSE:WSO) – Research analysts at William Blair raised their Q3 2018 earnings per share estimates for Watsco in a research report issued to clients and investors on Thursday. William Blair analyst R. Merkel now expects that the construction company will earn $2.34 per share for the quarter, up from their prior forecast of $2.14. William Blair also issued estimates for Watsco’s FY2018 earnings at $6.85 EPS.
Watsco (NYSE:WSO) last posted its quarterly earnings data on Thursday, February 8th. The construction company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). The firm had revenue of $964.35 million for the quarter, compared to analysts’ expectations of $965.85 million. Watsco had a net margin of 4.80% and a return on equity of 14.66%. The firm’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS.
WSO has been the subject of several other research reports. Morgan Stanley boosted their price target on Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a report on Thursday, October 26th. KeyCorp reissued a “buy” rating on shares of Watsco in a report on Friday, November 17th. Zacks Investment Research raised Watsco from a “hold” rating to a “buy” rating and set a $197.00 price target for the company in a report on Monday, January 22nd. Stephens set a $169.00 price target on Watsco and gave the company a “hold” rating in a report on Thursday, February 8th. Finally, Susquehanna Bancshares set a $195.00 price target on Watsco and gave the company a “buy” rating in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $168.88.
Shares of Watsco (NYSE WSO) opened at $164.93 on Monday. The company has a market capitalization of $5,870.46, a price-to-earnings ratio of 30.08 and a beta of 0.87. The company has a current ratio of 3.21, a quick ratio of 1.38 and a debt-to-equity ratio of 0.01. Watsco has a 1 year low of $134.08 and a 1 year high of $182.79.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Tuesday, January 16th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.03%. The ex-dividend date was Friday, January 12th. Watsco’s dividend payout ratio is presently 86.36%.
In other Watsco news, SVP Barry S. Logan sold 3,246 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total transaction of $533,317.80. Following the completion of the sale, the senior vice president now owns 15,800 shares of the company’s stock, valued at $2,595,940. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 13.93% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisor Group Inc. boosted its stake in shares of Watsco by 132.4% in the second quarter. Advisor Group Inc. now owns 1,706 shares of the construction company’s stock worth $263,000 after acquiring an additional 972 shares during the period. Royal Bank of Canada boosted its stake in shares of Watsco by 46.9% in the second quarter. Royal Bank of Canada now owns 12,986 shares of the construction company’s stock worth $2,002,000 after acquiring an additional 4,146 shares during the period. Segall Bryant & Hamill LLC boosted its stake in shares of Watsco by 49.7% in the third quarter. Segall Bryant & Hamill LLC now owns 126,101 shares of the construction company’s stock worth $20,311,000 after acquiring an additional 41,882 shares during the period. First Republic Investment Management Inc. boosted its stake in shares of Watsco by 4.9% in the third quarter. First Republic Investment Management Inc. now owns 216,932 shares of the construction company’s stock worth $34,941,000 after acquiring an additional 10,216 shares during the period. Finally, Conestoga Capital Advisors LLC bought a new position in shares of Watsco in the third quarter worth about $1,722,000. 82.36% of the stock is owned by hedge funds and other institutional investors.
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Watsco Company Profile
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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