Watsco, Inc. (NYSE:WSO) Shares Acquired by Markel Group Inc.

Markel Group Inc. raised its position in Watsco, Inc. (NYSE:WSO - Free Report) by 2.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 582,500 shares of the construction company's stock after buying an additional 11,250 shares during the period. Watsco comprises 2.6% of Markel Group Inc.'s investment portfolio, making the stock its 7th biggest position. Markel Group Inc. owned approximately 1.44% of Watsco worth $286,520,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of WSO. Equitable Trust Co. boosted its position in shares of Watsco by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 1,166 shares of the construction company's stock valued at $574,000 after acquiring an additional 25 shares during the last quarter. Olympiad Research LP purchased a new position in Watsco in the third quarter worth approximately $252,000. Marks Group Wealth Management Inc grew its stake in shares of Watsco by 2.7% during the third quarter. Marks Group Wealth Management Inc now owns 18,168 shares of the construction company's stock worth $8,936,000 after purchasing an additional 473 shares in the last quarter. Amalgamated Bank lifted its stake in Watsco by 5.0% during the third quarter. Amalgamated Bank now owns 17,128 shares of the construction company's stock worth $8,425,000 after purchasing an additional 809 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Watsco by 12.5% in the 3rd quarter. QRG Capital Management Inc. now owns 1,145 shares of the construction company's stock valued at $563,000 after buying an additional 127 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company's stock.

Watsco Price Performance

NYSE:WSO traded up $3.53 during trading hours on Friday, reaching $528.50. 216,117 shares of the company were exchanged, compared to its average volume of 285,991. Watsco, Inc. has a 52-week low of $368.77 and a 52-week high of $533.53. The firm has a market cap of $21.34 billion, a price-to-earnings ratio of 40.84 and a beta of 0.88. The stock has a 50 day simple moving average of $484.96 and a 200 day simple moving average of $478.97.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the firm posted $4.35 earnings per share. The business's revenue was up 1.6% on a year-over-year basis. On average, analysts predict that Watsco, Inc. will post 13.2 EPS for the current fiscal year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $2.70 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.04%. Watsco's dividend payout ratio is currently 83.46%.

Analyst Ratings Changes

A number of brokerages have recently commented on WSO. Robert W. Baird reduced their target price on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st.

Watsco Company Profile

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.