Schwab Charles Investment Management Inc. Has $35.83 Million Stake in Watsco Inc (WSO)

Schwab Charles Investment Management Inc. lifted its stake in shares of Watsco Inc (NYSE:WSO) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 210,733 shares of the construction company’s stock after purchasing an additional 18,001 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.59% of Watsco worth $35,834,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in shares of Watsco by 132.1% during the fourth quarter. Bank of Montreal Can now owns 6,194 shares of the construction company’s stock worth $1,053,000 after purchasing an additional 3,525 shares during the last quarter. Wendell David Associates Inc. grew its holdings in Watsco by 9.0% in the fourth quarter. Wendell David Associates Inc. now owns 19,520 shares of the construction company’s stock valued at $3,319,000 after purchasing an additional 1,605 shares during the last quarter. Pennsylvania Trust Co grew its holdings in Watsco by 1.6% in the fourth quarter. Pennsylvania Trust Co now owns 30,127 shares of the construction company’s stock valued at $5,122,000 after purchasing an additional 463 shares during the last quarter. Bright Rock Capital Management LLC acquired a new stake in Watsco in the fourth quarter valued at $1,360,000. Finally, Sit Investment Associates Inc. grew its holdings in Watsco by 30.1% in the fourth quarter. Sit Investment Associates Inc. now owns 12,545 shares of the construction company’s stock valued at $2,133,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Shares of Watsco Inc (NYSE:WSO) opened at $164.98 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.42 and a current ratio of 3.21. The company has a market capitalization of $5,906.56, a price-to-earnings ratio of 28.49 and a beta of 0.87. Watsco Inc has a 52 week low of $134.08 and a 52 week high of $182.79.

Watsco (NYSE:WSO) last posted its quarterly earnings data on Thursday, February 8th. The construction company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.10). The company had revenue of $964.35 million for the quarter, compared to analyst estimates of $965.85 million. Watsco had a net margin of 4.80% and a return on equity of 14.66%. The firm’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. research analysts expect that Watsco Inc will post 6.64 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th were paid a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Friday, January 12th. Watsco’s payout ratio is currently 86.36%.

Several research firms have weighed in on WSO. Zacks Investment Research lowered Watsco from a “buy” rating to a “hold” rating in a report on Saturday. Susquehanna Bancshares set a $195.00 target price on Watsco and gave the company a “buy” rating in a report on Friday. Stephens set a $169.00 target price on Watsco and gave the company a “hold” rating in a report on Thursday. KeyCorp reissued a “buy” rating on shares of Watsco in a report on Friday, November 17th. Finally, Morgan Stanley upped their target price on Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $170.71.

In related news, SVP Barry S. Logan sold 3,246 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $164.30, for a total transaction of $533,317.80. Following the sale, the senior vice president now owns 15,800 shares of the company’s stock, valued at $2,595,940. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 13.93% of the stock is owned by company insiders.

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About Watsco

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

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Institutional Ownership by Quarter for Watsco (NYSE:WSO)

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