Watsco
About: Watsco is the largest heating, ventilation, air conditioning, and refrigeration products distributor in North America. The company primarily operates in the United States (90% of 2023 revenue) with significant exposure in the Sunbelt states. Watsco also has operations in Canada (5% of sales) and Latin America (5% of sales). The company's customer base consists of more than 125,000 contractors that serve the replacement and new construction HVACR markets for residential and light commercial applications.
Employees: 7,425
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
10% more first-time investments, than exits
New positions opened: 87 | Existing positions closed: 79
1% more funds holding
Funds holding: 766 [Q2] → 774 (+8) [Q3]
2% more capital invested
Capital invested by funds: $17.1B [Q2] → $17.5B (+$336M) [Q3]
1% more repeat investments, than reductions
Existing positions increased: 288 | Existing positions reduced: 285
3.71% less ownership
Funds ownership: 106.54% [Q2] → 102.83% (-3.71%) [Q3]
7% less funds holding in top 10
Funds holding in top 10: 15 [Q2] → 14 (-1) [Q3]
34% less call options, than puts
Call options by funds: $45.3M | Put options by funds: $68.5M
Research analyst outlook
1 Wall Street Analyst provided 1 year price targets over the past 3 months
1 analyst rating
Baird David Manthey 46% 1-year accuracy 17 / 37 met price target | 14%upside $540 | Outperform Maintained | 24 Oct 2024 |
Financial journalist opinion
