Watsco, Inc.

Watsco, Inc.

Watsco, Inc.

Overview
Date Founded

1956

Headquarters

2665 South Bayshore Drive, Suite 901, Miami, FL, 33133, USA

Type of Company

Public

Employees (Worldwide)

5,200

Industries

Wholesale: Industrial Products & Manufacturing
Building Products & Construction Materials

Company Description

Watsco, Inc. (NYSE:WSO) is the largest distributor of heating, air conditioning, and refrigeration (HVAC/R) products with 507 locations in 36 states, Puerto Rico, Latin America and the Caribbean. Founded more than 50 years ago as a manufacturer of parts and components for HVAC/R equipment, Watsco entered the distribution segment in 1989 and has become the industry leader with sales of $2.0 billion in 2009. Watsco has 4,000 employees assisting over 50,000 contractors who, in turn, service, repair or replace HVAC/R systems. Watsco meets contractor’s needs by supplying the products required for the four major industry segments: Air conditioners, furnaces and related parts (50%) Air movement products, including ductwork and insulation (25%) Controls, including thermostats and air treatment systems (15%) Refrigeration products (10%).

Contact Data
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In The News
SEC
February 28, 2020
Watsco, Inc. filed form 10-K
Tampa Bay Times
January 16, 2020
Milton Roy
South Florida Sun-Sentinel
January 8, 2020
Coral Springs cheerleaders bring their 'A' game to competition
Executives & Employees

Chief Executive Officer

Chief Financial Officer, Treasurer, Assistant Secretary

Director & President

Executive Vice President & Chief Operating Officer

Head-Business Development

Executive Vice President-Planning & Strategy & Secretary

Vice President-Strategic Initiatives

Executive Director

Director Information Technology

Director

Board of Directors

Chief Executive Officer at Watsco, Inc.

Senior Chairman at Greenberg Traurig LLP

Founder at Moss & Associates LLC

Director & President at Watsco, Inc.

Member-Auditing Section at American Accounting Association

Co-Founder at IndieGoGo, Inc.

President & Chief Executive Officer at Baptist Health South Florida, Inc.

Managing Partner Emeritus at Epstein Becker & Green PC

Principal, Tax at Kaufman Rossin & Co., A Professional Association

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Watsco, Inc.
Owners & Shareholders
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CSIA's SIP Program offers clients a diversified portfolio composed of ETFs, as well as an FDIC-insured cash allocation that is based on the client's stated investment objectives and risk tolerance. The portfolio of ETFs includes up to 20 asset classes across stocks, fixed income, real estate, and commodities. The SIP Program is designed to monitor a client's portfolio daily and automatically rebalance as needed to keep a client's portfolio consistent with their selected risk profile unless such rebalancing may not be in the best interest of the client. The SIP Program is sponsored by CSIA's affiliate, Schwab Wealth Investment Advisory, Inc., which sets investment policy and parameters and provides administrative and related services for the SIP Program. The SIP Program is also used to provide discretionary portfolio management in the Schwab Intelligent Advisory Program (SIA) sponsored by Charles Schwab & Co., Inc. The SIA Program combines the SIP Program with additional financial planning services provided through Schwab.

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Kayne Anderson Rudnick Investment Management is a registered investment advisor based in Los Angeles, California with approximately $7 billion in assets under management. Our clients include affluent individuals, endowments, foundations, corporations, public funds, and pension plans for who it manages a range of portfolios having a common disciplined, high-quality investment philosophy

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MGAM manages portfolios of publicly traded securities, which consist primarily of common stocks, but may also include other securities, such as ETFs, money funds and other cash accounts, preferred stocks, bonds, debentures, warrants and options. Accounts are primarily concentrated into a limited number of significant investments. The firm's primary strategy is to use fundamental research to identify securities issued by attractive businesses, whose affairs are managed by honest and talented management, that exhibit reinvestment opportunities and capital discipline, and where those securities are selling at reasonable prices. MGAM's investment horizon is long-term and they expect relatively low portfolio turnover. On occasion, the firm may pursue other strategies such as risk arbitrage, spin-offs, and companies in bankruptcy, and hedging.

Recent Transactions
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Watsco, Inc. purchases Alert Labs, Inc. from BDC Venture Capital, Hedgewood, Inc., Intact Ventures, Inc.

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United Technologies Corporation, Watsco, Inc., Carrier Enterprise LLC purchase Russell Sigler, Inc.

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Watsco, Inc. issued USD Common Stock

Insider Transactions
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Transaction Advisors
Accountant

Advised onWatsco, Inc. purchases Three States Supply Co. LLC from UIS, Inc.

Accountant

Advised onWatsco, Inc. purchases East Coast Metal Distributors LLC

Escrow Agent

Advised onWatsco, Inc. issued USD Common Stock

Managing Director

Advised onWatsco, Inc. issued USD Common Stock

Key Stats and Financials As of 2019
Market Capitalization
$5.98B
Total Enterprise Value
$6.76B
Earnings Per Share
$6.5
Revenue
$4.77B
Enterprise Value Sales
1.42x
TEVNet Income
27.49x
Debt TEV
0.05x
Net Profit
$246M
Total Equity
$1.71B
Total Debt
$310M
Three Year Compounded Annual Growth Rate Of Revenue
4.17%
Five Year Compounded Annual Growth Rate Of Revenue
3.87%
Political Donations
Suppliers
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E.I. du Pont de Nemours & Co. engages in the provision of science-based products and services. It operates through the following product lines: agriculture, packaging and specialty plastics, electronics and imaging, nutrition and health, industrial biosciences, transportation and advanced polymers, and safety and construction. The company was founded by Eleuthere Irenee du Pont in 1802 and is headquartered in Wilmington, DE.

Emerson Electric Co. Computer Software | St Louis, MO

Emerson Electric Co. engages in the provision of measurement and analytical instrumentation; industrial valves & equipment; process control systems, tools & appliance solutions for customers in a range of industrial, commercial and consumer markets. It operates through the following business segments: Automation Solutions and Commercial & Residential Solutions. The Automation Solutions segment offers products; software and technology; and engineering, project management, consulting services and integrated manufacturing solutions for precision measurement, control, monitoring, asset optimization, and safety and reliability of oil and gas reservoirs, manufacturing operations, and plants that process or treats various items. The Climate Technologies segment provides products and services for many areas of the climate control industry, including residential heating and cooling, commercial air conditioning, and commercial and industrial refrigeration. The Commercial & Residential Solutions segment sells tools for professionals and homeowners and appliance solutions, such as food waste disposer, ceiling fans, lighting, sensing and protection devices. The company was founded by Charles Meston and Alexander Meston on September 24, 1890 and is headquartered in St. Louis, MO.

The Manitowoc Co., Inc. Food | Manitowoc, WI

The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with nearly 100 manufacturing, distribution, service, and/or office facilities in 26 countries. With leading market positions and the industry's most recognized brands, Manitowoc's Crane business is recognized as one of the world's largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. Truly a globalized business, the Crane segment generates over 60% of revenue from non-U.S. markets. By leveraging the Crane segment's strategic focus on innovation and its strong global footprint, which includes 31 facilities in 16 countries, Manitowoc can customize and build its crane products for a wide range of end markets. Additionally, the segment's unmatched aftermarket business is a key differentiator that sets Manitowoc apart in the marketplace. Manitowoc also is one of the world's leading innovators and manufacturers of commercial foodservice equipment serving the ice, beverage, refrigeration, food prep, and cooking needs of restaurants, convenience stores, hotels, healthcare, and institutional applications. With a worldwide network of 120 distributors promoting 35 leading brands and a global presence that spans five continents and more than 80 countries, Manitowoc Foodservice is a trusted partner of the largest global restaurant chains, convenience stores, lodging, hospitality, and other customers. Its broad range of innovative products allows customers to create new menu items, expand their global footprint, and launch sustainability initiatives, while at the same time enhancing their overall profitability

Awards & Honors
Rank #581
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
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