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

Charles Schwab Investment Management Inc. boosted its position in shares of Watsco, Inc. (NYSE:WSO) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,252,822 shares of the construction company’s stock after purchasing an additional 62,041 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 3.10% of Watsco worth $616,357,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. EntryPoint Capital LLC grew its holdings in Watsco by 100.0% during the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after buying an additional 29 shares during the last quarter. Quarry LP purchased a new position in shares of Watsco during the 2nd quarter worth about $26,000. Tortoise Investment Management LLC grew its holdings in Watsco by 76.2% in the second quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares during the period. Ashton Thomas Securities LLC purchased a new position in Watsco during the third quarter worth approximately $43,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after purchasing an additional 22 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

WSO has been the subject of a number of research analyst reports. Robert W. Baird dropped their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st.

Watsco Trading Up 2.6 %

WSO stock opened at $547.29 on Friday. The stock’s 50 day simple moving average is $498.42 and its 200 day simple moving average is $484.47. Watsco, Inc. has a 12-month low of $373.33 and a 12-month high of $549.74. The firm has a market cap of $22.10 billion, a P/E ratio of 42.29 and a beta of 0.88.

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

Watsco Announces Dividend

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