Stifel Nicolaus Reaffirms Buy Rating for Watsco (WSO)

Stifel Nicolaus reiterated their buy rating on shares of Watsco (NYSE:WSO) in a report published on Wednesday morning. Stifel Nicolaus currently has a $191.00 price target on the construction company’s stock.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research upgraded Watsco from a hold rating to a buy rating and set a $197.00 price target on the stock in a report on Monday, January 22nd. ValuEngine raised Watsco from a hold rating to a buy rating in a research report on Monday, April 2nd. Susquehanna Bancshares set a $195.00 price objective on Watsco and gave the company a buy rating in a research report on Friday, February 9th. Stephens set a $169.00 price objective on Watsco and gave the company a hold rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase reduced their price objective on Watsco from $180.00 to $169.00 and set a neutral rating for the company in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $173.50.

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Shares of WSO stock opened at $185.88 on Wednesday. Watsco has a 12 month low of $134.08 and a 12 month high of $189.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.38 and a current ratio of 3.21. The company has a market cap of $6,984.43, a price-to-earnings ratio of 33.92 and a beta of 0.82.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Thursday, February 8th. The construction company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.10). Watsco had a net margin of 4.80% and a return on equity of 14.66%. The company had revenue of $964.35 million for the quarter, compared to analyst estimates of $965.85 million. During the same quarter last year, the business earned $0.81 EPS. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. sell-side analysts anticipate that Watsco will post 6.81 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Monday, April 16th will be given a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 3.12%. This is a boost from Watsco’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 13th. Watsco’s dividend payout ratio is currently 91.24%.

Several institutional investors and hedge funds have recently bought and sold shares of WSO. New York State Common Retirement Fund boosted its position in shares of Watsco by 42.4% in the third quarter. New York State Common Retirement Fund now owns 122,500 shares of the construction company’s stock valued at $19,731,000 after acquiring an additional 36,500 shares during the period. Macquarie Group Ltd. bought a new position in Watsco in the third quarter worth $403,000. Legal & General Group Plc lifted its position in Watsco by 9.3% in the third quarter. Legal & General Group Plc now owns 33,618 shares of the construction company’s stock worth $5,414,000 after purchasing an additional 2,872 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Watsco by 5.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 192,732 shares of the construction company’s stock worth $31,044,000 after purchasing an additional 10,376 shares during the period. Finally, Brown Advisory Inc. lifted its position in Watsco by 21.6% in the third quarter. Brown Advisory Inc. now owns 14,590 shares of the construction company’s stock worth $2,350,000 after purchasing an additional 2,591 shares during the period. 81.54% of the stock is owned by 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.

Analyst Recommendations for Watsco (NYSE:WSO)

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