Watsco (NYSE:WSO) announced its quarterly earnings results on Tuesday. The construction company reported $0.89 EPS for the quarter, hitting analysts’ consensus estimates of $0.89, Briefing.com reports. The firm had revenue of $926.58 million during the quarter, compared to analysts’ expectations of $911.45 million. Watsco had a net margin of 4.80% and a return on equity of 14.66%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.71 earnings per share.
NYSE WSO opened at $173.77 on Wednesday. The company has a market cap of $6,993.38, a PE ratio of 34.33 and a beta of 0.82. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.38. Watsco has a 1-year low of $135.80 and a 1-year high of $192.94.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Monday, April 16th will be issued a dividend of $1.45 per share. This is a positive change from Watsco’s previous quarterly dividend of $1.25. The ex-dividend date is Friday, April 13th. This represents a $5.80 annualized dividend and a dividend yield of 3.34%. Watsco’s dividend payout ratio (DPR) is presently 105.84%.
Several hedge funds and other institutional investors have recently bought and sold shares of WSO. Krueger & Catalano Capital Partners LLC acquired a new stake in shares of Watsco in the fourth quarter valued at approximately $2,047,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Watsco by 35.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,816 shares of the construction company’s stock valued at $309,000 after purchasing an additional 476 shares in the last quarter. Bain Capital Public Equity Management LLC acquired a new stake in shares of Watsco in the fourth quarter valued at approximately $6,422,000. BlackRock Inc. increased its holdings in shares of Watsco by 4.1% in the fourth quarter. BlackRock Inc. now owns 2,682,903 shares of the construction company’s stock valued at $456,201,000 after purchasing an additional 105,677 shares in the last quarter. Finally, AlphaStar Capital Management LLC acquired a new stake in shares of Watsco in the fourth quarter valued at approximately $331,000. 81.62% of the stock is owned by institutional investors.
A number of brokerages have commented on WSO. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Monday, April 16th. Stifel Nicolaus reaffirmed a “buy” rating and set a $191.00 price objective on shares of Watsco in a report on Wednesday, April 4th. ValuEngine raised shares of Watsco from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Stephens set a $185.00 price objective on shares of Watsco and gave the stock a “hold” rating in a report on Tuesday. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $185.00 price objective on shares of Watsco in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $180.75.
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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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