Watsco Inc (WSO) Plans Quarterly Dividend of $1.60

Watsco Inc (NYSE:WSO) declared a quarterly dividend on Wednesday, January 2nd, RTT News reports. Stockholders of record on Wednesday, January 16th will be paid a dividend of 1.60 per share by the construction company on Thursday, January 31st. This represents a $6.40 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend is Tuesday, January 15th. This is a boost from Watsco’s previous quarterly dividend of $1.45.

Watsco has increased its dividend payment by an average of 26.0% per year over the last three years and has raised its dividend every year for the last 5 years. Watsco has a dividend payout ratio of 96.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Watsco to earn $7.01 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 91.3%.

Shares of WSO opened at $141.24 on Thursday. The company has a market cap of $5.35 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 1.63 and a beta of 0.96. Watsco has a twelve month low of $131.88 and a twelve month high of $192.94.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Thursday, October 25th. The construction company reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.26 by ($0.15). The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.31 billion. Watsco had a return on equity of 14.00% and a net margin of 5.15%. During the same period in the prior year, the business earned $1.82 earnings per share. On average, equities research analysts predict that Watsco will post 6.46 earnings per share for the current fiscal year.

In related news, SVP Barry S. Logan sold 2,500 shares of the firm’s stock in a transaction on Thursday, December 20th. The shares were sold at an average price of $141.27, for a total value of $353,175.00. Following the completion of the transaction, the senior vice president now directly owns 13,300 shares of the company’s stock, valued at $1,878,891. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 13.45% of the stock is currently owned by company insiders.

Several brokerages have recently weighed in on WSO. Zacks Investment Research raised shares of Watsco from a “sell” rating to a “hold” rating in a research note on Monday, December 17th. Buckingham Research began coverage on shares of Watsco in a research note on Tuesday, October 9th. They set a “neutral” rating and a $187.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Watsco in a research note on Friday, October 12th. They set a “hold” rating and a $160.00 price target for the company. Morgan Stanley initiated coverage on shares of Watsco in a research note on Tuesday, December 18th. They issued an “equal weight” rating and a $144.00 target price for the company. Finally, ValuEngine cut shares of Watsco from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Watsco has a consensus rating of “Hold” and a consensus price target of $178.11.

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About Watsco

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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Dividend History for Watsco (NYSE:WSO)

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