Watsco, Inc. (NYSE:WSO) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. cut its holdings in Watsco, Inc. (NYSE:WSO) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,190,371 shares of the construction company’s stock after selling 119,830 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Watsco were worth $490,233,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. acquired a new stake in shares of Watsco during the 4th quarter worth about $25,000. Contravisory Investment Management Inc. acquired a new position in shares of Watsco in the 4th quarter worth approximately $26,000. Rise Advisors LLC purchased a new position in shares of Watsco during the 4th quarter worth approximately $30,000. BKM Wealth Management LLC purchased a new position in shares of Watsco during the fourth quarter worth $32,000. Finally, Hartford Financial Management Inc. grew its stake in shares of Watsco by 53.1% in the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after buying an additional 26 shares in the last quarter. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WSO shares. Robert W. Baird raised their target price on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a report on Thursday, April 25th. Stephens restated an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $404.25.

Watsco Stock Down 0.9 %

NYSE:WSO traded down $4.39 during mid-day trading on Tuesday, hitting $467.96. The stock had a trading volume of 458,850 shares, compared to its average volume of 344,665. The company has a current ratio of 2.92, a quick ratio of 1.31 and a debt-to-equity ratio of 0.01. Watsco, Inc. has a twelve month low of $315.17 and a twelve month high of $480.18. The company has a market capitalization of $18.48 billion, a PE ratio of 36.35 and a beta of 0.86. The stock has a 50-day simple moving average of $421.34 and a two-hundred day simple moving average of $403.06.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, April 24th. The construction company reported $2.17 EPS for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.83 EPS. On average, equities research analysts anticipate that Watsco, Inc. will post 14.26 EPS for the current year.

Watsco Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were issued a $2.70 dividend. This is a boost from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date was Friday, April 12th. This represents a $10.80 annualized dividend and a dividend yield of 2.31%. Watsco’s dividend payout ratio is presently 83.08%.

About Watsco

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.