Jefferies Financial Group Inc. Buys 2,002 Shares of Watsco, Inc. $WSO

Jefferies Financial Group Inc. lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 402.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,500 shares of the construction company’s stock after buying an additional 2,002 shares during the period. Jefferies Financial Group Inc.’s holdings in Watsco were worth $757,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Assetmark Inc. raised its position in Watsco by 2.7% in the 1st quarter. Assetmark Inc. now owns 1,115 shares of the construction company’s stock valued at $406,000 after buying an additional 29 shares during the last quarter. North Dakota State Investment Board lifted its stake in Watsco by 3.4% during the 3rd quarter. North Dakota State Investment Board now owns 1,070 shares of the construction company’s stock valued at $324,000 after acquiring an additional 35 shares in the last quarter. Financial Network Wealth Advisors LLC lifted its stake in Watsco by 17.5% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 289 shares of the construction company’s stock valued at $88,000 after acquiring an additional 43 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Watsco by 2.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,689 shares of the construction company’s stock valued at $511,000 after acquiring an additional 45 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Watsco by 10.5% during the 1st quarter. Bessemer Group Inc. now owns 496 shares of the construction company’s stock worth $181,000 after acquiring an additional 47 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on WSO. Stephens reiterated an “overweight” rating and issued a $485.00 target price on shares of Watsco in a research note on Monday, August 17th. Zacks Research raised shares of Watsco from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 21st. Robert W. Baird set a $400.00 price target on shares of Watsco in a report on Thursday, July 30th. Weiss Ratings downgraded shares of Watsco from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, October 6th. Finally, Morgan Stanley reduced their price objective 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 research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $373.62.

Watsco Stock Up 0.1%

Watsco stock traded up $0.21 during mid-day trading on Friday, reaching $308.45. 469,709 shares of the company’s stock were exchanged, compared to its average volume of 723,794. The business’s fifty day simple moving average is $305.98 and its 200 day simple moving average is $362.24. The firm has a market capitalization of $12.72 billion, a PE ratio of 27.25 and a beta of 1.03. Watsco, Inc. has a one year low of $277.34 and a one year high of $459.00.

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

Watsco Dividend Announcement

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

Watsco 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.