Robert W. Baird Trims Watsco (NYSE:WSO) Target Price to $540.00

Watsco (NYSE:WSO) had its price target reduced by Robert W. Baird from $550.00 to $540.00 in a research note published on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the construction company’s stock.

Separately, JPMorgan Chase & Co. lifted their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

Watsco Stock Down 0.5 %

WSO opened at $475.90 on Thursday. The firm has a market cap of $19.18 billion, a price-to-earnings ratio of 36.61 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. The firm’s 50-day simple moving average is $482.01 and its 200-day simple moving average is $473.79. Watsco has a twelve month low of $340.52 and a twelve month high of $520.41.

Watsco (NYSE:WSO) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 18.55% and a net margin of 7.02%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the company posted $4.35 earnings per share. Watsco’s quarterly revenue was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Watsco will post 13.78 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be paid a dividend of $2.70 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Park Avenue Securities LLC raised its position in shares of Watsco by 2.1% during the first quarter. Park Avenue Securities LLC now owns 1,784 shares of the construction company’s stock worth $771,000 after acquiring an additional 36 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Watsco by 11.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 22,852 shares of the construction company’s stock valued at $9,871,000 after purchasing an additional 2,433 shares during the last quarter. Thrive Wealth Management LLC grew its position in shares of Watsco by 7.1% during the 1st quarter. Thrive Wealth Management LLC now owns 601 shares of the construction company’s stock worth $260,000 after buying an additional 40 shares during the period. MCF Advisors LLC bought a new stake in shares of Watsco during the first quarter worth approximately $39,000. Finally, Breakwater Capital Group acquired a new position in Watsco in the first quarter valued at approximately $212,000. Institutional investors own 89.71% of the company’s stock.

About Watsco

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.