Watsco (NYSE:WSO) PT Raised to $522.00 at Robert W. Baird

Watsco (NYSE:WSO) had its target price hoisted by stock analysts at Robert W. Baird from $460.00 to $522.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the construction company’s stock. Robert W. Baird’s price objective points to a potential upside of 7.10% from the company’s current price.

Separately, Stephens reiterated an “overweight” rating and set a $500.00 target price on shares of Watsco in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $419.43.

Watsco Stock Performance

NYSE:WSO traded up $6.27 during mid-day trading on Wednesday, reaching $487.41. The stock had a trading volume of 147,424 shares, compared to its average volume of 316,949. Watsco has a twelve month low of $337.58 and a twelve month high of $520.41. The business has a 50 day simple moving average of $481.99 and a 200 day simple moving average of $440.95. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 37.49 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing the consensus estimate of $4.70 by ($0.21). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same period in the prior year, the business earned $4.42 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts expect that Watsco will post 14.21 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 774 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $473.85, for a total transaction of $366,759.90. Following the transaction, the executive vice president now owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Barry S. Logan sold 774 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $473.85, for a total transaction of $366,759.90. Following the completion of the transaction, the executive vice president now owns 1,770 shares of the company’s stock, valued at approximately $838,714.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Alexander Macdonald sold 5,334 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $466.41, for a total transaction of $2,487,830.94. The disclosure for this sale can be found here. 12.86% of the stock is owned by corporate insiders.

Institutional Trading of Watsco

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Watsco in the 4th quarter worth about $102,958,000. Motley Fool Asset Management LLC raised its holdings in Watsco by 263.6% in the first quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company’s stock valued at $138,234,000 after buying an additional 231,987 shares during the period. Swedbank AB acquired a new position in Watsco during the first quarter valued at approximately $90,714,000. International Assets Investment Management LLC grew its stake in Watsco by 40,702.6% during the fourth quarter. International Assets Investment Management LLC now owns 205,237 shares of the construction company’s stock worth $87,938,000 after buying an additional 204,734 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Watsco by 4.5% in the first quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company’s stock worth $1,473,836,000 after acquiring an additional 146,305 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

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.