Watsco, Inc. $WSO Shares Acquired by Markel Group Inc.

Markel Group Inc. lifted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 0.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 582,169 shares of the construction company’s stock after purchasing an additional 4,500 shares during the quarter. Watsco comprises approximately 1.8% of Markel Group Inc.’s investment portfolio, making the stock its 12th biggest position. Markel Group Inc. owned 1.43% of Watsco worth $211,787,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WSO. Torren Management LLC purchased a new stake in Watsco in the 4th quarter valued at about $26,000. Bayban acquired a new position in Watsco in the fourth quarter valued at about $29,000. Bamco Inc. NY purchased a new position in Watsco during the fourth quarter worth about $35,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Watsco during the fourth quarter valued at about $37,000. Finally, Quarry LP acquired a new stake in shares of Watsco during the fourth quarter valued at about $37,000. 89.71% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of Watsco from $370.00 to $405.00 and gave the stock an “equal weight” rating in a research report on Friday. Wall Street Zen raised Watsco from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. DA Davidson began coverage on Watsco in a research note on Tuesday, June 16th. They set a “neutral” rating and a $385.00 price target on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a research report on Friday, June 26th. Finally, Stephens lifted their price objective on Watsco from $475.00 to $485.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $402.71.

Watsco Price Performance

Shares of NYSE WSO traded up $6.53 during midday trading on Friday, hitting $384.26. The company’s stock had a trading volume of 268,315 shares, compared to its average volume of 317,500. The firm has a market capitalization of $15.62 billion, a price-to-earnings ratio of 31.89 and a beta of 1.02. The business’s fifty day simple moving average is $393.55 and its two-hundred day simple moving average is $391.03. Watsco, Inc. has a 1 year low of $323.05 and a 1 year high of $494.94.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, April 28th. The construction company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.14. Watsco had a net margin of 6.85% and a return on equity of 15.31%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period in the prior year, the business earned $1.93 EPS. The firm’s quarterly revenue was up .1% on a year-over-year basis. Analysts anticipate that Watsco, Inc. will post 12.66 EPS for the current fiscal year.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 16th will be given a dividend of $3.30 per share. The ex-dividend date of this dividend is Thursday, July 16th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.4%. Watsco’s dividend payout ratio is currently 109.54%.

Watsco Company Profile

Watsco, Inc is the largest distributor of heating, ventilation, air conditioning and refrigeration (HVAC/R) equipment, parts and supplies in the United States. Headquartered in Miami, Florida, the company operates a network of more than 600 branches across the continental U.S., Canada and Puerto Rico. Watsco serves residential and commercial contractors by providing essential components for climate control systems, including air conditioners, furnaces, heat pumps, coils, refrigerants, controls and electrical and piping supplies.

Founded in 1947, Watsco has grown from a single regional distributor into an industry leader through a combination of organic expansion, acquisitions and strategic partnerships with original equipment manufacturers such as Carrier, Trane, Goodman and Lennox.