Watsco, Inc. (NYSE:WSO) Stock Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in Watsco, Inc. (NYSE:WSO) by 5.2% in the 3rd quarter, Holdings Channel reports. The fund owned 1,252,822 shares of the construction company’s stock after purchasing an additional 62,041 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Watsco were worth $616,357,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of Watsco by 256.3% in the first quarter. EverSource Wealth Advisors LLC now owns 3,374 shares of the construction company’s stock worth $1,510,000 after buying an additional 2,427 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Watsco in the first quarter valued at approximately $491,000. Gateway Investment Advisers LLC acquired a new stake in shares of Watsco in the second quarter worth $2,109,000. Markel Group Inc. boosted its holdings in shares of Watsco by 0.9% during the 2nd quarter. Markel Group Inc. now owns 571,250 shares of the construction company’s stock worth $264,626,000 after buying an additional 5,000 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Watsco by 1.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 64,758 shares of the construction company’s stock worth $31,853,000 after acquiring an additional 1,074 shares during the period. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird reduced their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th.

Watsco Price Performance

WSO opened at $547.29 on Friday. The firm’s fifty day moving average price is $498.42 and its two-hundred day moving average price is $484.47. The company has a market capitalization of $22.10 billion, a P/E ratio of 42.29 and a beta of 0.88. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $549.74.

Watsco (NYSE:WSO) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $4.35 earnings per share. On average, equities research analysts expect that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is currently 83.46%.

Watsco Profile

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.