UBS Group Lowers Watsco (NYSE:WSO) Price Target to $425.00

Watsco (NYSE:WSO) had its price objective cut by UBS Group from $450.00 to $425.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a neutral rating on the construction company’s stock.

WSO has been the subject of a number of other research reports. JPMorgan Chase & Co. boosted their price objective on Watsco from $445.00 to $460.00 and gave the company a “neutral” rating in a research report on Tuesday, May 27th. Morgan Stanley set a $505.00 price objective on Watsco in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Watsco has an average rating of “Hold” and an average target price of $480.00.

Watsco Trading Up 0.8%

Shares of NYSE WSO opened at $393.61 on Tuesday. Watsco has a twelve month low of $378.35 and a twelve month high of $571.41. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 30.18 and a beta of 0.95. The business has a 50 day simple moving average of $419.41 and a 200-day simple moving average of $453.41.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.84 by ($0.32). Watsco had a net margin of 7.08% and a return on equity of 16.96%. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the firm earned $4.49 EPS. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts predict that Watsco will post 14.62 earnings per share for the current year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Wednesday, July 16th were given a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date was Wednesday, July 16th. Watsco’s payout ratio is 92.02%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. OneDigital Investment Advisors LLC acquired a new position in Watsco during the 1st quarter worth $266,000. Goldman Sachs Group Inc. boosted its position in Watsco by 62.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company’s stock worth $238,329,000 after acquiring an additional 180,951 shares during the period. Teacher Retirement System of Texas acquired a new position in Watsco during the 1st quarter worth $2,588,000. Golden State Wealth Management LLC lifted its holdings in shares of Watsco by 109.4% in the first quarter. Golden State Wealth Management LLC now owns 222 shares of the construction company’s stock valued at $113,000 after buying an additional 116 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Watsco by 133.1% in the first quarter. SG Americas Securities LLC now owns 844 shares of the construction company’s stock valued at $429,000 after buying an additional 482 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.