Markel Group Inc. Purchases 8,000 Shares of Watsco, Inc. (NYSE:WSO)

Markel Group Inc. lifted its position in shares of Watsco, Inc. (NYSE:WSO) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 590,500 shares of the construction company’s stock after purchasing an additional 8,000 shares during the quarter. Watsco comprises about 2.5% of Markel Group Inc.’s holdings, making the stock its 9th largest holding. Markel Group Inc.’s holdings in Watsco were worth $279,832,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. J. W. Coons Advisors LLC lifted its position in shares of Watsco by 0.7% during the third quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company’s stock worth $1,475,000 after purchasing an additional 20 shares in the last quarter. My Legacy Advisors LLC increased its stake in shares of Watsco by 3.2% in the fourth quarter. My Legacy Advisors LLC now owns 687 shares of the construction company’s stock worth $329,000 after buying an additional 21 shares during the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of Watsco by 1.8% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after buying an additional 21 shares during the last quarter. Centennial Wealth Advisory LLC increased its stake in shares of Watsco by 3.0% in the fourth quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company’s stock worth $358,000 after buying an additional 22 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of Watsco by 1.4% in the fourth quarter. M&T Bank Corp now owns 1,686 shares of the construction company’s stock worth $799,000 after buying an additional 23 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 12.86% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WSO. 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 research note on Wednesday, February 19th. Loop Capital lifted their price target on shares of Watsco from $450.00 to $460.00 and gave the stock a “hold” rating in a research note on Thursday, February 27th. Raymond James began coverage on shares of Watsco in a research note on Friday, January 17th. They issued a “market perform” rating for the company. Finally, Northcoast Research began coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating for the company. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $486.25.

Watsco Price Performance

WSO stock opened at $520.60 on Tuesday. Watsco, Inc. has a 1-year low of $389.08 and a 1-year high of $571.41. The firm has a fifty day moving average price of $487.22 and a two-hundred day moving average price of $494.62. The firm has a market cap of $21.02 billion, a price-to-earnings 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 for the quarter, beating 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 firm had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.67 billion. As a group, analysts expect that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid 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 yield of 2.07%. Watsco’s payout ratio is 81.51%.

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.