Watsco (WSO)

• Market cap: $18.6B
• 1 day: 0.93%
• 5 days: 2.64%
• 1 month: -9.53%
• 3 months: -5.05%
• 6 months: -3.07%
• Year to date: -1.91%
• 1 year: 2.71%
• 5 years: 185.63%
• 10 years: 282.28%
• Sector: Industrials
• Industry: Industrial Distribution

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 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: 7,295

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

63% more first-time investments, than exits

New positions opened: 104 | Existing positions closed: 64

7% more funds holding in top 10

Funds holding in top 10: 14 [Q3] → 15 (+1) [Q4]

4% more funds holding

Funds holding: 776 [Q3] → 806 (+30) [Q4]

0.26% less ownership

Funds ownership: 101.33% [Q3] → 101.07% (-0.26%) [Q4]

2% less capital invested

Capital invested by funds: $17.2B [Q3] → $16.9B (-$358M) [Q4]

11% less repeat investments, than reductions

Existing positions increased: 269 | Existing positions reduced: 301

39% less call options, than puts

Call options by funds: $23.8M | Put options by funds: $39.1M

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $455 1% downside
• Avg. target: $493 7% upside
• High target: $540 17% upside

4 analyst ratings

• positive: 1 25%
• neutral: 3 75%
• negative: 0 0%

UBS Damian Karas 22% 1-year accuracy 4 / 18 met price target	1% downside $455	Neutral Maintained	24 Apr 2025
Baird David Manthey 31% 1-year accuracy 12 / 39 met price target	17% upside $540	Outperform Maintained	24 Apr 2025
Morgan Stanley	12% upside $515	Equal-Weight Initiated	14 Apr 2025
Loop Capital Chris Dankert 29% 1-year accuracy 5 / 17 met price target	0% upside $460	Hold Maintained	27 Feb 2025