Charles Schwab Investment Management Inc. Has $616.36 Million Stake in Watsco, Inc. (NYSE:WSO)

Charles Schwab Investment Management Inc. raised its position in Watsco, Inc. (NYSE:WSO - Free Report) by 5.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 quarter.

Several other hedge funds also recently bought and sold shares of WSO. Blair William & Co. IL boosted its stake in shares of Watsco by 1.2% during the 2nd quarter. Blair William & Co. IL now owns 801,152 shares of the construction company's stock worth $371,126,000 after acquiring an additional 9,141 shares in the last quarter. Markel Group Inc. boosted its position in Watsco by 2.0% during the third quarter. Markel Group Inc. now owns 582,500 shares of the construction company's stock worth $286,520,000 after purchasing an additional 11,250 shares during the period. Bank of New York Mellon Corp grew its holdings in Watsco by 1.6% during the second quarter. Bank of New York Mellon Corp now owns 393,032 shares of the construction company's stock valued at $182,068,000 after purchasing an additional 6,320 shares during the last quarter. Hamlin Capital Management LLC raised its position in shares of Watsco by 7.4% in the third quarter. Hamlin Capital Management LLC now owns 314,543 shares of the construction company's stock valued at $154,717,000 after purchasing an additional 21,649 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Watsco by 48,984.7% in the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company's stock worth $114,924,000 after buying an additional 233,167 shares during the last quarter. 89.71% of the stock is owned by institutional investors and hedge funds.

Watsco Trading Up 0.7 %

WSO traded up $3.65 on Friday, hitting $549.89. 57,458 shares of the stock traded hands, compared to its average volume of 281,023. The business has a fifty day moving average price of $498.42 and a two-hundred day moving average price of $484.47. The firm has a market capitalization of $22.20 billion, a PE ratio of 42.29 and a beta of 0.88. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $551.60.

Watsco (NYSE:WSO - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business's revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.35 earnings per share. On average, equities research analysts forecast that Watsco, Inc. will post 13.06 EPS for the current fiscal year.

Watsco Announces Dividend

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco's payout ratio is 83.46%.

Analysts Set New Price Targets

WSO has been the topic of a number of research analyst reports. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on shares of Watsco from $420.00 to $425.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Finally, Northcoast Research began coverage on Watsco in a research note on Friday. They issued a "neutral" rating on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $491.25.

Watsco Company 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.