Markel Group Inc. grew its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 590,500 shares of the construction company's stock after purchasing an additional 8,000 shares during the quarter. Watsco makes up about 2.5% of Markel Group Inc.'s holdings, making the stock its 9th largest position. Markel Group Inc. owned 1.46% of Watsco worth $279,832,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in WSO. Rialto Wealth Management LLC acquired a new position in Watsco in the 4th quarter valued at about $31,000. Wingate Wealth Advisors Inc. acquired a new position in Watsco in the 4th quarter valued at about $36,000. Ashton Thomas Securities LLC acquired a new position in Watsco in the 3rd quarter valued at about $43,000. Quarry LP increased its position in Watsco by 57.9% in the 3rd quarter. Quarry LP now owns 90 shares of the construction company's stock valued at $44,000 after acquiring an additional 33 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Watsco in the 3rd quarter valued at approximately $48,000. Institutional investors and hedge funds own 89.71% of the company's stock.
Watsco Trading Down 2.7 %
Shares of NYSE:WSO traded down $14.12 during trading on Tuesday, hitting $506.39. 422,013 shares of the stock were exchanged, compared to its average volume of 274,785. The company has a fifty day moving average price of $487.87 and a two-hundred day moving average price of $494.76. The company has a market cap of $20.45 billion, a PE ratio of 38.22 and a beta of 0.92. Watsco, Inc. has a 12-month low of $393.88 and a 12-month high of $571.41.
Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.67 billion. Watsco had a return on equity of 17.59% and a net margin of 7.04%. Equities research analysts anticipate that Watsco, Inc. will post 14.62 earnings per share for the current fiscal year.
Watsco Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.13%. Watsco's dividend payout ratio is currently 81.51%.
Insider Buying and Selling
In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 12.86% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on WSO. Robert W. Baird lifted their price objective on Watsco from $540.00 to $560.00 and gave the company an "outperform" rating in a report on Wednesday, February 19th. Northcoast Research began coverage on Watsco in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. Loop Capital lifted their price objective on Watsco from $450.00 to $460.00 and gave the company a "hold" rating in a report on Thursday, February 27th. Finally, Raymond James began coverage on Watsco in a report on Friday, January 17th. They issued a "market perform" rating on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $486.25.
View Our Latest Stock Report on WSO
About Watsco
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Free Report)
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.
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