Jump Financial LLC Buys 3,071 Shares of Watsco, Inc. $WSO

Key Points

• Jump Financial LLC increased its holdings in Watsco, Inc. by 65.7% during the first quarter, acquiring an additional 3,071 shares, bringing its total to 7,743 shares valued at approximately $3.94 million.
• Watsco's stock has seen a 2.0% decline, with a current trading price of $407.54, and analysts project an earnings per share of 14.62 for the current fiscal year.
• The company announced a quarterly dividend of $3.00 per share, yielding 2.9%, with a payout ratio of 92.02% as of the last quarter.

Jump Financial LLC raised its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 65.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,743 shares of the construction company's stock after acquiring an additional 3,071 shares during the quarter. Jump Financial LLC's holdings in Watsco were worth $3,936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of WSO. Manitou Investment Management Ltd. bought a new position in Watsco in the first quarter valued at approximately $25,000. Opal Wealth Advisors LLC bought a new position in Watsco in the first quarter valued at approximately $25,000. TCTC Holdings LLC boosted its stake in Watsco by 115.4% in the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock valued at $28,000 after acquiring an additional 30 shares during the last quarter. City Holding Co. bought a new position in Watsco in the first quarter valued at approximately $29,000. Finally, Rossby Financial LCC bought a new position in Watsco in the first quarter valued at approximately $33,000. 89.71% of the stock is owned by institutional investors.

Watsco Stock Down 2.0%

Shares of NYSE:WSO opened at $407.5450 on Tuesday. Watsco, Inc. has a 12 month low of $397.73 and a 12 month high of $571.41. The company's fifty day simple moving average is $444.02 and its 200 day simple moving average is $468.89. The firm has a market cap of $16.53 billion, a price-to-earnings ratio of 31.25 and a beta of 0.95.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The construction company reported $4.52 EPS for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the business earned $4.49 earnings per share. The company's revenue was down 3.6% on a year-over-year basis. Research analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Wednesday, July 16th were issued a dividend of $3.00 per share. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Wednesday, July 16th. Watsco's dividend payout ratio (DPR) is presently 92.02%.

Wall Street Analysts Forecast Growth

WSO has been the topic of a number of recent research reports. Wall Street Zen raised shares of Watsco from a "sell" rating to a "hold" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. raised their price objective on shares of Watsco from $445.00 to $460.00 and gave the company a "neutral" rating in a research note on Tuesday, May 27th. Morgan Stanley set a $505.00 target price on shares of Watsco in a report on Wednesday, July 2nd. Finally, UBS Group cut their target price on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Watsco currently has an average rating of "Hold" and an average price target of $484.17.

Watsco 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.

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