Watsco Inc (WSO) Position Boosted by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. increased its holdings in shares of Watsco Inc (NYSE:WSO) by 9.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 210,733 shares of the construction company’s stock after buying an additional 18,001 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Watsco were worth $35,834,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WSO. DF Dent & Co. Inc. raised its holdings in shares of Watsco by 25.7% in the 3rd quarter. DF Dent & Co. Inc. now owns 430,125 shares of the construction company’s stock worth $69,280,000 after purchasing an additional 88,072 shares during the period. Riverbridge Partners LLC grew its position in shares of Watsco by 68.4% in the 3rd quarter. Riverbridge Partners LLC now owns 163,063 shares of the construction company’s stock worth $26,265,000 after acquiring an additional 66,240 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Watsco by 471.9% in the 3rd quarter. Victory Capital Management Inc. now owns 63,144 shares of the construction company’s stock worth $10,171,000 after acquiring an additional 52,103 shares in the last quarter. State Street Corp grew its position in shares of Watsco by 6.8% in the 2nd quarter. State Street Corp now owns 799,293 shares of the construction company’s stock worth $123,247,000 after acquiring an additional 50,751 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in shares of Watsco by 49.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 126,101 shares of the construction company’s stock worth $20,311,000 after acquiring an additional 41,882 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.
Watsco Inc (NYSE WSO) opened at $164.98 on Friday. Watsco Inc has a 12-month low of $134.08 and a 12-month high of $182.79. The stock has a market capitalization of $5,906.56, a P/E ratio of 28.49 and a beta of 0.87. 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Tuesday, January 16th were given a dividend of $1.25 per share. The ex-dividend date of this dividend was Friday, January 12th. This represents a $5.00 dividend on an annualized basis and a yield of 3.03%. Watsco’s dividend payout ratio is currently 86.36%.
Several brokerages have recently commented on WSO. Zacks Investment Research lowered Watsco from a “buy” rating to a “hold” rating and set a $201.00 target price for the company. in a research report on Saturday, February 3rd. Stephens set a $169.00 target price on Watsco and gave the stock a “hold” rating in a research report on Thursday. Morgan Stanley lifted their target price on Watsco from $151.00 to $156.00 and gave the stock an “underweight” rating in a research report on Thursday, October 26th. Susquehanna Bancshares set a $195.00 price objective on Watsco and gave the company a “buy” rating in a research report on Friday. Finally, KeyCorp restated a “buy” rating on shares of Watsco in a research report on Friday, November 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. Watsco 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 business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 15,800 shares in the company, valued at approximately $2,595,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 13.93% of the company’s stock.
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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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