Watsco Inc (NYSE:WSO)’s share price dropped 7.3% during trading on Tuesday . The company traded as low as $172.63 and last traded at $173.77. Approximately 868,353 shares traded hands during trading, an increase of 211% from the average daily volume of 279,084 shares. The stock had previously closed at $187.46.
WSO has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on shares of Watsco from $191.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Watsco from a “buy” rating to a “hold” rating in a report on Saturday, February 10th. ValuEngine raised shares of Watsco from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Robert W. Baird lifted their price objective on shares of Watsco from $176.00 to $185.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Stephens set a $185.00 price objective on shares of Watsco and gave the stock a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. Watsco presently has an average rating of “Buy” and an average target price of $181.13.
The stock has a market cap of $6,482.66, a price-to-earnings ratio of 30.78 and a beta of 0.82. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.63 and a quick ratio of 1.38.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Monday, April 16th will be issued a $1.45 dividend. This is an increase from Watsco’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Friday, April 13th. This represents a $5.80 dividend on an annualized basis and a yield of 3.41%. Watsco’s dividend payout ratio is 105.84%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Krueger & Catalano Capital Partners LLC purchased a new position in Watsco in the 4th quarter worth approximately $2,047,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Watsco by 35.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,816 shares of the construction company’s stock worth $309,000 after purchasing an additional 476 shares during the period. Bain Capital Public Equity Management LLC purchased a new position in shares of Watsco during the 4th quarter worth $6,422,000. BlackRock Inc. lifted its stake in shares of Watsco by 4.1% during the 4th quarter. BlackRock Inc. now owns 2,682,903 shares of the construction company’s stock worth $456,201,000 after purchasing an additional 105,677 shares during the period. Finally, AlphaStar Capital Management LLC purchased a new position in shares of Watsco during the 4th quarter worth $331,000. Institutional investors and hedge funds own 81.62% of the company’s stock.
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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