Jump Financial LLC Invests $2.21 Million in Watsco, Inc. (NYSE:WSO)

Jump Financial LLC bought a new stake in shares of Watsco, Inc. (NYSE:WSO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,672 shares of the construction company’s stock, valued at approximately $2,214,000.

Other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in shares of Watsco by 5.6% during the third quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company’s stock valued at $25,645,000 after purchasing an additional 2,738 shares during the last quarter. JPMorgan Chase & Co. increased its position in Watsco by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company’s stock valued at $228,263,000 after acquiring an additional 41,845 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Watsco in the 4th quarter worth approximately $10,446,000. AEGON ASSET MANAGEMENT UK Plc boosted its stake in shares of Watsco by 15.1% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 139,157 shares of the construction company’s stock worth $65,966,000 after acquiring an additional 18,279 shares during the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake in shares of Watsco by 1.3% in the fourth quarter. Conestoga Capital Advisors LLC now owns 97,832 shares of the construction company’s stock worth $46,362,000 after buying an additional 1,300 shares during the period. Institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on WSO. Loop Capital upped their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a report on Thursday, February 27th. Robert W. Baird upped their target price on shares of Watsco from $540.00 to $560.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Morgan Stanley began coverage on shares of Watsco in a research note on Monday, April 14th. They set an “equal weight” rating and a $515.00 price objective for the company. Finally, Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $492.00.

Watsco Stock Performance

NYSE WSO opened at $507.62 on Friday. The company has a market cap of $20.51 billion, a PE ratio of 38.31 and a beta of 1.00. Watsco, Inc. has a 52-week low of $396.82 and a 52-week high of $571.42. The firm’s 50 day moving average price is $500.71 and its 200-day moving average price is $499.31.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. On average, analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Tuesday, April 15th will be issued a $3.00 dividend. This is a boost from Watsco’s previous quarterly dividend of $2.70. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Tuesday, April 15th. Watsco’s dividend payout ratio (DPR) is currently 90.57%.

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.