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

Jump Financial LLC bought a new position in shares of Watsco, Inc. (NYSE:WSO - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,672 shares of the construction company's stock, valued at approximately $2,214,000.

Several other hedge funds also recently made changes to their positions in WSO. Franklin Resources Inc. lifted its position in shares of Watsco by 5.6% during the 3rd quarter. Franklin Resources Inc. now owns 51,590 shares of the construction company's stock worth $25,645,000 after buying an additional 2,738 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Watsco by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 464,061 shares of the construction company's stock worth $228,263,000 after purchasing an additional 41,845 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Watsco during the fourth quarter worth approximately $10,446,000. AEGON ASSET MANAGEMENT UK Plc grew its stake in Watsco by 15.1% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 139,157 shares of the construction company's stock worth $65,966,000 after purchasing an additional 18,279 shares during the period. Finally, Conestoga Capital Advisors LLC grew its stake in Watsco by 1.3% during the fourth quarter. Conestoga Capital Advisors LLC now owns 97,832 shares of the construction company's stock worth $46,362,000 after purchasing an additional 1,300 shares during the period. 89.71% of the stock is owned by institutional investors.

Watsco Stock Performance

Watsco stock traded up $6.27 during mid-day trading on Thursday, reaching $452.67. The stock had a trading volume of 160,087 shares, compared to its average volume of 286,516. Watsco, Inc. has a fifty-two week low of $428.30 and a fifty-two week high of $571.41. The stock's 50-day simple moving average is $501.02 and its 200-day simple moving average is $499.24. The firm has a market capitalization of $18.29 billion, a PE ratio of 34.09 and a beta of 1.00.

Watsco (NYSE:WSO - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The construction company reported $1.93 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($0.36). Watsco had a net margin of 7.04% and a return on equity of 17.59%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the business earned $2.17 EPS. On average, research analysts forecast that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Increases Dividend

The business also recently announced 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 represents a $12.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Tuesday, April 15th. This is a positive change from Watsco's previous quarterly dividend of $2.70. Watsco's dividend payout ratio (DPR) is currently 90.57%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Robert W. Baird decreased their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research note on Thursday. Loop Capital raised their target price on Watsco from $450.00 to $460.00 and gave the stock a "hold" rating in a research note on Thursday, February 27th. Morgan Stanley assumed coverage on Watsco in a research note on Monday, April 14th. They set an "equal weight" rating and a $515.00 target price for the company. Finally, Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They issued a "market perform" rating for the company. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $488.00.

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.