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

Markel Group Inc. lifted its stake in shares of Watsco, Inc. (NYSE:WSO) by 0.8% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 582,169 shares of the construction company’s stock after purchasing an additional 4,500 shares during the period. Watsco comprises approximately 1.8% of Markel Group Inc.’s portfolio, making the stock its 12th largest holding. Markel Group Inc.’s holdings in Watsco were worth $211,787,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Comerica Bank lifted its stake in Watsco by 36.3% in the fourth quarter. Comerica Bank now owns 45,756 shares of the construction company’s stock worth $15,417,000 after acquiring an additional 12,190 shares during the last quarter. Dudley & Shanley Inc. grew its holdings in Watsco by 41.5% during the 4th quarter. Dudley & Shanley Inc. now owns 55,692 shares of the construction company’s stock worth $18,765,000 after acquiring an additional 16,322 shares in the last quarter. Crown Oak Advisors LLC increased its position in shares of Watsco by 11.7% in the 4th quarter. Crown Oak Advisors LLC now owns 26,721 shares of the construction company’s stock valued at $9,004,000 after purchasing an additional 2,800 shares during the last quarter. DAVENPORT & Co LLC increased its position in shares of Watsco by 31.8% in the 4th quarter. DAVENPORT & Co LLC now owns 470,177 shares of the construction company’s stock valued at $159,293,000 after purchasing an additional 113,333 shares during the last quarter. Finally, Vantage Investment Partners LLC raised its holdings in shares of Watsco by 70.0% in the 4th quarter. Vantage Investment Partners LLC now owns 166,172 shares of the construction company’s stock valued at $55,992,000 after purchasing an additional 68,442 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Watsco Trading Up 1.7%

Shares of Watsco stock traded up $6.53 on Friday, hitting $384.26. The stock had a trading volume of 268,315 shares, compared to its average volume of 317,500. Watsco, Inc. has a 52-week low of $323.05 and a 52-week high of $494.94. The stock has a market cap of $15.62 billion, a price-to-earnings ratio of 31.89 and a beta of 1.02. The company’s 50 day moving average price is $393.55 and its 200 day moving average price is $391.03.

Watsco (NYSE:WSO) last released its quarterly 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 return on equity of 15.31% and a net margin of 6.85%.The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter last year, the business posted $1.93 EPS. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Analysts predict that Watsco, Inc. will post 12.66 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 16th will be given a $3.30 dividend. The ex-dividend date is Thursday, July 16th. This represents a $13.20 annualized dividend and a yield of 3.4%. Watsco’s dividend payout ratio is 109.54%.

Analyst Upgrades and Downgrades

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

About Watsco

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.