Markel Corp raised its stake in Watsco Inc (NYSE:WSO) by 8.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 356,000 shares of the construction company’s stock after acquiring an additional 27,000 shares during the quarter. Watsco makes up approximately 0.9% of Markel Corp’s investment portfolio, making the stock its 28th largest position. Markel Corp owned approximately 0.95% of Watsco worth $58,217,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in Watsco by 7.4% in the fourth quarter. Geode Capital Management LLC now owns 328,294 shares of the construction company’s stock worth $45,783,000 after purchasing an additional 22,758 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in Watsco in the first quarter worth $232,000. Retirement Systems of Alabama grew its holdings in Watsco by 5.9% in the first quarter. Retirement Systems of Alabama now owns 84,430 shares of the construction company’s stock worth $12,091,000 after purchasing an additional 4,683 shares during the period. Nisa Investment Advisors LLC grew its holdings in Watsco by 84.4% in the first quarter. Nisa Investment Advisors LLC now owns 27,750 shares of the construction company’s stock worth $3,974,000 after purchasing an additional 12,700 shares during the period. Finally, Wedbush Securities Inc. grew its holdings in Watsco by 17.4% in the first quarter. Wedbush Securities Inc. now owns 7,268 shares of the construction company’s stock worth $1,041,000 after purchasing an additional 1,075 shares during the period. 78.11% of the stock is owned by institutional investors.
Separately, Zacks Investment Research cut shares of Watsco from a “hold” rating to a “sell” rating and set a $167.00 price target for the company. in a report on Saturday, August 3rd. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $162.80.
Watsco (NYSE:WSO) last released its quarterly earnings data on Thursday, July 18th. The construction company reported $2.40 earnings per share for the quarter, missing analysts’ consensus estimates of $2.54 by ($0.14). Watsco had a net margin of 5.17% and a return on equity of 14.63%. The business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the business posted $2.40 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Watsco Inc will post 6.59 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Tuesday, July 16th were paid a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Monday, July 15th. Watsco’s dividend payout ratio (DPR) is 98.61%.
Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.
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