Watsco, Inc. (NYSE:WSO) Stake Lifted by Markel Group Inc.

Markel Group Inc. increased its position in Watsco, Inc. (NYSE:WSO - Free Report) by 2.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 556,750 shares of the construction company's stock after purchasing an additional 11,000 shares during the quarter. Watsco makes up about 2.6% of Markel Group Inc.'s investment portfolio, making the stock its 8th largest holding. Markel Group Inc. owned about 1.41% of Watsco worth $238,551,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Wetzel Investment Advisors Inc. bought a new stake in Watsco during the fourth quarter worth about $25,000. Contravisory Investment Management Inc. purchased a new stake in shares of Watsco in the 4th quarter worth approximately $26,000. Rise Advisors LLC bought a new position in Watsco during the 4th quarter valued at approximately $30,000. BKM Wealth Management LLC bought a new position in Watsco during the 4th quarter valued at approximately $32,000. Finally, Hartford Financial Management Inc. raised its stake in Watsco by 53.1% during the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company's stock valued at $32,000 after buying an additional 26 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Robert W. Baird raised their price target on Watsco from $420.00 to $460.00 and gave the company an "outperform" rating in a report on Thursday. Stephens restated an "overweight" rating and set a $500.00 price objective on shares of Watsco in a research note on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $404.25.

Watsco Stock Performance

WSO traded down $0.79 during midday trading on Friday, hitting $443.21. 277,099 shares of the company traded hands, compared to its average volume of 347,443. The company's 50-day moving average is $412.36 and its 200 day moving average is $399.76. The company has a quick ratio of 1.47, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $17.51 billion, a PE ratio of 34.09 and a beta of 0.90. Watsco, Inc. has a 52 week low of $315.17 and a 52 week high of $451.29.

Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing analysts' consensus estimates of $2.26 by ($0.09). Watsco had a net margin of 7.03% and a return on equity of 19.26%. The company had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company earned $2.83 EPS. The firm's revenue for the quarter was up .9% on a year-over-year basis. On average, research analysts expect that Watsco, Inc. will post 14.19 EPS for the current year.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a $2.70 dividend. The ex-dividend date is Friday, April 12th. This represents a $10.80 annualized dividend and a dividend yield of 2.44%. This is a positive change from Watsco's previous quarterly dividend of $2.45. Watsco's payout ratio is presently 83.08%.

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.

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