Schwab Charles Investment Management Inc. Boosts Position in Watsco, Inc. (WSO)
Schwab Charles Investment Management Inc. increased its stake in Watsco, Inc. (NYSE:WSO) by 5.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 192,732 shares of the construction company’s stock after purchasing an additional 10,376 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.54% of Watsco worth $31,044,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of WSO. Legal & General Group Plc raised its holdings in Watsco by 16.1% during the 2nd quarter. Legal & General Group Plc now owns 30,746 shares of the construction company’s stock valued at $4,741,000 after acquiring an additional 4,253 shares during the period. Advisor Group Inc. raised its holdings in Watsco by 132.4% during the 2nd quarter. Advisor Group Inc. now owns 1,706 shares of the construction company’s stock valued at $263,000 after acquiring an additional 972 shares during the period. Royal Bank of Canada raised its holdings in Watsco by 46.9% during the 2nd quarter. Royal Bank of Canada now owns 12,986 shares of the construction company’s stock valued at $2,002,000 after acquiring an additional 4,146 shares during the period. Bank of Montreal Can raised its holdings in Watsco by 0.8% during the 2nd quarter. Bank of Montreal Can now owns 2,867 shares of the construction company’s stock valued at $442,000 after acquiring an additional 22 shares during the period. Finally, Motley Fool Asset Management LLC raised its holdings in Watsco by 332.4% during the 2nd quarter. Motley Fool Asset Management LLC now owns 80,000 shares of the construction company’s stock valued at $12,336,000 after acquiring an additional 61,500 shares during the period. 82.41% of the stock is currently owned by institutional investors.
A number of brokerages have issued reports on WSO. KeyCorp reissued a “buy” rating on shares of Watsco in a report on Friday, November 17th. Morgan Stanley boosted their target price on shares of Watsco from $151.00 to $156.00 and gave the company an “underweight” rating in a report on Thursday, October 26th. Zacks Investment Research cut shares of Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Stifel Nicolaus reissued a “buy” rating and set a $154.00 target price on shares of Watsco in a report on Thursday, September 7th. Finally, Robert W. Baird reissued a “buy” rating and set a $163.00 target price on shares of Watsco in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $160.40.
Watsco, Inc. (NYSE WSO) traded up $1.03 on Monday, hitting $169.48. 172,600 shares of the stock were exchanged, compared to its average volume of 274,965. The stock has a market cap of $6,057.38, a price-to-earnings ratio of 31.56 and a beta of 0.83. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.13 and a quick ratio of 1.42. Watsco, Inc. has a 12-month low of $134.08 and a 12-month high of $171.15.
Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 EPS for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.13). The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Watsco had a net margin of 4.46% and a return on equity of 15.00%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 earnings per share. research analysts forecast that Watsco, Inc. will post 5.59 earnings per share for the current year.
In other news, SVP Barry S. Logan sold 3,246 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were 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 directly owns 15,800 shares in the company, valued at approximately $2,595,940. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 13.93% of the stock is owned by insiders.
Watsco Company Profile
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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