Watsco, Inc. $WSO Stake Lifted by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. grew its stake in shares of Watsco, Inc. (NYSE:WSO) by 402.0% in the third quarter, Holdings Channel reports. The fund owned 2,500 shares of the construction company’s stock after acquiring an additional 2,002 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Watsco were worth $757,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Elevated Capital Advisors LLC increased its position in Watsco by 91.7% in the third quarter. Elevated Capital Advisors LLC now owns 209 shares of the construction company’s stock worth $63,000 after buying an additional 100 shares during the last quarter. AlphaCore Capital LLC raised its stake in shares of Watsco by 88.7% in the third quarter. AlphaCore Capital LLC now owns 1,436 shares of the construction company’s stock valued at $435,000 after buying an additional 675 shares during the period. Running Oak Capital LLC raised its stake in shares of Watsco by 5.6% in the third quarter. Running Oak Capital LLC now owns 26,723 shares of the construction company’s stock valued at $8,089,000 after buying an additional 1,406 shares during the period. Retirement Systems of Alabama lifted its position in shares of Watsco by 1.0% during the 3rd quarter. Retirement Systems of Alabama now owns 48,856 shares of the construction company’s stock valued at $14,788,000 after buying an additional 505 shares during the last quarter. Finally, Fulcrum Asset Management LLP purchased a new position in shares of Watsco during the 3rd quarter valued at $239,000. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WSO shares. Robert W. Baird set a $400.00 price target on Watsco in a research note on Thursday, July 30th. Mizuho lowered their price objective on Watsco from $350.00 to $325.00 and set a “neutral” rating on the stock in a research note on Thursday, October 15th. Zacks Research upgraded Watsco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 21st. DA Davidson dropped their price objective on shares of Watsco from $385.00 to $330.00 and set a “neutral” rating on the stock in a report on Thursday, July 30th. Finally, Morgan Stanley cut their target price on shares of Watsco from $370.00 to $330.00 and set an “equal weight” rating for the company in a research report on Monday, October 12th. Two analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $373.62.

Watsco Stock Up 0.1%

NYSE:WSO traded up $0.21 during mid-day trading on Friday, hitting $308.45. 469,709 shares of the stock traded hands, compared to its average volume of 723,794. The business’s 50-day moving average price is $305.98 and its 200 day moving average price is $362.24. The company has a market cap of $12.72 billion, a PE ratio of 27.25 and a beta of 1.03. Watsco, Inc. has a 12-month low of $277.34 and a 12-month high of $459.00.

Watsco (NYSE:WSO) last posted its earnings results on Tuesday, October 27th. The construction company reported $3.77 earnings per share for the quarter, missing analysts’ consensus estimates of $4.10 by ($0.33). Watsco had a return on equity of 13.97% and a net margin of 6.31%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.21 billion. During the same period last year, the company posted $3.98 EPS. The business’s revenue was up 7.4% on a year-over-year basis. Analysts anticipate that Watsco, Inc. will post 11.70 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 16th were given a dividend of $3.30 per share. This represents a $13.20 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Friday, October 16th. Watsco’s payout ratio is 116.61%.

Watsco Company Profile

Watsco, Inc. distributes air-conditioning, heating, and refrigeration equipment and related parts and supplies. Its products serve residential and light commercial applications, including systems used in homes and businesses, as well as components and supplies for contractors who install and maintain them. The company sells products from a range of manufacturers through a network of distribution locations and digital platforms. Watsco serves customers in the United States, Canada, Mexico, and parts of Latin America and the Caribbean, supporting the installation, repair, and replacement of HVAC and refrigeration systems.