Watsco (WSO) Sets New 12-Month Low at $155.18

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Watsco Inc (NYSE:WSO)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $155.18 and last traded at $157.50, with a volume of 266630 shares trading hands. The stock had previously closed at $159.45.

Several research firms have commented on WSO. Longbow Research lowered shares of Watsco from a “buy” rating to a “neutral” rating in a research report on Monday, July 30th. Seaport Global Securities lowered shares of Watsco from a “buy” rating to a “neutral” rating in a research report on Thursday, July 26th. Zacks Investment Research lowered shares of Watsco from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Robert W. Baird lowered shares of Watsco from an “outperform” rating to a “neutral” rating and set a $185.00 price objective for the company. in a research report on Tuesday, July 3rd. Finally, ValuEngine upgraded shares of Watsco from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Watsco currently has a consensus rating of “Hold” and a consensus price target of $181.67.

The firm has a market capitalization of $5.95 billion, a PE ratio of 29.14, a PEG ratio of 1.90 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.43 and a current ratio of 3.10.

Watsco (NYSE:WSO) last released its earnings results on Wednesday, July 25th. The construction company reported $2.40 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.47 by ($0.07). The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.34 billion. Watsco had a return on equity of 14.26% and a net margin of 5.05%. Watsco’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS. As a group, equities analysts forecast that Watsco Inc will post 6.7 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Monday, October 15th will be issued a $1.45 dividend. The ex-dividend date is Friday, October 12th. This represents a $5.80 annualized dividend and a dividend yield of 3.63%. Watsco’s dividend payout ratio (DPR) is presently 105.84%.

Several institutional investors have recently added to or reduced their stakes in WSO. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Watsco in the 2nd quarter worth about $111,258,000. United Services Automobile Association lifted its holdings in shares of Watsco by 5,047.4% in the 2nd quarter. United Services Automobile Association now owns 253,819 shares of the construction company’s stock worth $15,176,000 after acquiring an additional 248,888 shares during the last quarter. Caledonia Investments PLC bought a new stake in shares of Watsco in the 2nd quarter worth about $27,986,000. BlackRock Inc. lifted its holdings in shares of Watsco by 2.7% in the 2nd quarter. BlackRock Inc. now owns 3,727,767 shares of the construction company’s stock worth $664,588,000 after acquiring an additional 99,687 shares during the last quarter. Finally, First Quadrant L P CA lifted its holdings in shares of Watsco by 97,616.9% in the 2nd quarter. First Quadrant L P CA now owns 69,379 shares of the construction company’s stock worth $12,369,000 after acquiring an additional 69,308 shares during the last quarter. Hedge funds and other institutional investors own 83.15% of the company’s stock.

About Watsco (NYSE:WSO)

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

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