Watsco Inc (NYSE:WSO) declared a quarterly dividend on Monday, April 2nd, RTT News reports. Stockholders of record on Monday, April 16th will be given a dividend of 1.45 per share by the construction company on Monday, April 30th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.22%. This is a boost from Watsco’s previous quarterly dividend of $1.25.
Watsco has raised its dividend payment by an average of 32.0% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Watsco has a payout ratio of 89.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Watsco to earn $7.51 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 66.6%.
WSO traded down $0.94 on Monday, reaching $180.03. 27,179 shares of the company’s stock were exchanged, compared to its average volume of 247,869. The company has a market cap of $6,751.27, a PE ratio of 33.15 and a beta of 0.82. Watsco has a twelve month low of $134.08 and a twelve month high of $183.84. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.38 and a current ratio of 3.21.
WSO has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Watsco from a “hold” rating to a “buy” rating and set a $197.00 target price for the company in a research report on Monday, January 22nd. Susquehanna Bancshares set a $195.00 target price on shares of Watsco and gave the stock a “buy” rating in a research report on Friday, February 9th. Stephens set a $169.00 target price on shares of Watsco and gave the stock a “hold” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase dropped their target price on shares of Watsco from $180.00 to $169.00 and set a “neutral” rating for the company in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Watsco presently has an average rating of “Hold” and an average price target of $168.88.
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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