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 revenue), with significant exposure in the Sun Belt 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 2025 Q2 regulatory disclosures by fund managers ($100M+ AUM)
78% more call options, than puts
Call options by funds: $12.6M | Put options by funds: $7.05M
6% less repeat investments, than reductions
Existing positions increased: 277 | Existing positions reduced: 296
1.33% less ownership
Funds ownership: 100.89% [Q1] → 99.56% (-1.33%) [Q2]
5% less funds holding
Funds holding: 831 [Q1] → 786 (-45) [Q2]
14% less capital invested
Capital invested by funds: $17.8B [Q1] → $15.3B (-$2.52B) [Q2]
27% less first-time investments, than exits
New positions opened: 74 | Existing positions closed: 101
55% less funds holding in top 10
Funds holding in top 10: 11 [Q1] → 5 (-6) [Q2]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
UBS Damian Karas | 10%upside $450 | Neutral Maintained | 25 Jun 2025 |
JP Morgan Stephen Tusa | 13%upside $460 | Neutral Maintained | 27 May 2025 |
Financial journalist opinion
Based on 8 articles about WSO published over the past 30 days
