Charles Schwab Investment Management Inc. Acquires 31,484 Shares of Watsco, Inc. $WSO

Charles Schwab Investment Management Inc. raised its holdings in Watsco, Inc. (NYSE:WSO - Free Report) by 2.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,485,996 shares of the construction company's stock after buying an additional 31,484 shares during the quarter. Charles Schwab Investment Management Inc. owned about 3.67% of Watsco worth $656,036,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WSO. Goldman Sachs Group Inc. grew its position in Watsco by 62.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 468,875 shares of the construction company's stock worth $238,329,000 after purchasing an additional 180,951 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Watsco by 23.1% during the first quarter. Voya Investment Management LLC now owns 16,218 shares of the construction company's stock worth $8,244,000 after buying an additional 3,045 shares during the period. Park Avenue Securities LLC acquired a new stake in shares of Watsco during the second quarter worth $573,000. Amundi grew its holdings in shares of Watsco by 5.2% during the first quarter. Amundi now owns 26,348 shares of the construction company's stock valued at $12,977,000 after buying an additional 1,313 shares during the last quarter. Finally, Nicholas Company Inc. increased its position in shares of Watsco by 13.8% in the 2nd quarter. Nicholas Company Inc. now owns 12,948 shares of the construction company's stock valued at $5,718,000 after acquiring an additional 1,575 shares during the period. Institutional investors and hedge funds own 89.71% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on WSO shares. William Blair reaffirmed a "market perform" rating on shares of Watsco in a research report on Wednesday, October 15th. Mizuho decreased their target price on Watsco from $525.00 to $400.00 and set a "neutral" rating for the company in a report on Friday, October 17th. UBS Group cut their price target on shares of Watsco from $425.00 to $390.00 and set a "neutral" rating on the stock in a report on Thursday, November 6th. Morgan Stanley reduced their price target on shares of Watsco from $505.00 to $460.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 8th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Watsco in a report on Thursday, October 30th. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Watsco presently has an average rating of "Hold" and an average target price of $435.00.

Read Our Latest Stock Analysis on WSO

Watsco Stock Up 4.0%

Shares of WSO opened at $336.58 on Monday. The company has a market capitalization of $13.65 billion, a price-to-earnings ratio of 26.30 and a beta of 0.93. Watsco, Inc. has a 52 week low of $323.05 and a 52 week high of $571.41. The stock's 50-day moving average price is $371.55 and its 200-day moving average price is $416.67.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings results on Friday, November 7th. The construction company reported $3.98 earnings per share (EPS) for the quarter. Watsco had a return on equity of 16.48% and a net margin of 7.04%.The company had revenue of $2.07 billion during the quarter. As a group, equities analysts anticipate that Watsco, Inc. will post 14.62 EPS for the current fiscal year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Thursday, October 16th were issued a dividend of $3.00 per share. The ex-dividend date of this dividend was Thursday, October 16th. This represents a $12.00 dividend on an annualized basis and a yield of 3.6%. Watsco's dividend payout ratio is 93.75%.

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.

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