Watsco, Inc. (NYSE:WSO) is Markel Group Inc.’s 9th Largest Position

Markel Group Inc. raised its holdings in shares of Watsco, Inc. (NYSE:WSO) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 590,500 shares of the construction company’s stock after acquiring an additional 8,000 shares during the quarter. Watsco makes up 2.5% of Markel Group Inc.’s investment portfolio, making the stock its 9th largest position. Markel Group Inc. owned approximately 1.46% of Watsco worth $279,832,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rialto Wealth Management LLC purchased a new stake in shares of Watsco during the fourth quarter worth about $31,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Watsco during the fourth quarter worth about $36,000. Ashton Thomas Securities LLC purchased a new stake in shares of Watsco during the third quarter worth about $43,000. Quarry LP grew its holdings in shares of Watsco by 57.9% during the third quarter. Quarry LP now owns 90 shares of the construction company’s stock worth $44,000 after buying an additional 33 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of Watsco during the third quarter worth about $48,000. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WSO has been the subject of a number of recent research reports. Robert W. Baird lifted their price target on shares of Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a report on Wednesday, February 19th. Northcoast Research initiated coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They set a “market perform” rating for the company. Finally, Loop Capital raised their target price on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $486.25.

Watsco Stock Performance

WSO opened at $520.60 on Tuesday. The company’s 50 day simple moving average is $487.22 and its 200 day simple moving average is $494.62. Watsco, Inc. has a 1 year low of $389.08 and a 1 year high of $571.41. The stock has a market capitalization of $21.02 billion, a PE ratio of 39.29 and a beta of 0.92.

Watsco (NYSE:WSO) last released its earnings results on Tuesday, February 18th. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 7.04% and a return on equity of 17.59%. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.67 billion. As a group, sell-side analysts expect that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a yield of 2.07%. Watsco’s dividend payout ratio (DPR) is 81.51%.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 12.86% of the stock is currently owned by corporate insiders.

About Watsco

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.