The Charles Schwab Corporation $SCHW Stock Position Lessened by Dudley & Shanley Inc.

Key Points

• Dudley & Shanley Inc. reduced its Charles Schwab position by 12% in the third quarter, selling 28,968 shares and retaining 211,965 shares valued at approximately $20.7 million. Institutional investors collectively own 84.38% of SCHW.
• Charles Schwab reported quarterly EPS of $1.62, surpassing estimates of $1.56, while revenue rose 20.9% year over year to $7.07 billion. The company also maintained a quarterly dividend of $0.32, yielding about 1.3% annually.
• SCHW traded near $97, within a 52-week range of $83.96 to $114.53. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $119.58, although some firms recently lowered ratings or price targets.

Dudley & Shanley Inc. lessened its position in shares of The Charles Schwab Corporation (NYSE:SCHW - Free Report) by 12.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 211,965 shares of the financial services provider's stock after selling 28,968 shares during the quarter. Charles Schwab comprises 3.3% of Dudley & Shanley Inc.'s holdings, making the stock its 14th biggest position. Dudley & Shanley Inc.'s holdings in Charles Schwab were worth $20,717,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. USS Investment Management Ltd boosted its stake in Charles Schwab by 4.6% in the 1st quarter. USS Investment Management Ltd now owns 288,035 shares of the financial services provider's stock worth $27,068,000 after purchasing an additional 12,789 shares in the last quarter. Whittier Trust Co. lifted its holdings in shares of Charles Schwab by 3.9% during the first quarter. Whittier Trust Co. now owns 384,881 shares of the financial services provider's stock worth $35,790,000 after purchasing an additional 14,538 shares during the period. Financial Advisory Partners LLC purchased a new stake in shares of Charles Schwab in the 1st quarter valued at $3,199,000. Patriot Financial Group Insurance Agency LLC boosted its holdings in Charles Schwab by 112.0% in the first quarter. Patriot Financial Group Insurance Agency LLC now owns 89,498 shares of the financial services provider's stock valued at $8,411,000 after purchasing an additional 47,281 shares during the last quarter. Finally, Private Wealth Partners LLC boosted its stake in shares of Charles Schwab by 91.9% in the first quarter. Private Wealth Partners LLC now owns 204,248 shares of the financial services provider's stock worth $19,195,000 after buying an additional 97,829 shares during the last quarter. Hedge funds and other institutional investors own 84.38% of the company's stock.

Insiders Place Their Bets

In related news, insider Nigel Murtagh sold 24,778 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $109.01, for a total value of $2,701,049.78. Following the sale, the insider directly owned 57,972 shares in the company, valued at $6,319,527.72. This trade represents a 29.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Walter Bettinger sold 74,388 shares of Charles Schwab stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $110.91, for a total value of $8,250,373.08. Following the transaction, the chairman directly owned 610,360 shares in the company, valued at approximately $67,695,027.60. The trade was a 10.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 645,582 shares of company stock worth $69,553,935. 6.30% of the stock is currently owned by insiders.

Charles Schwab Stock Performance

Shares of SCHW stock traded down $0.94 during mid-day trading on Tuesday, hitting $97.02. The stock had a trading volume of 2,182,393 shares, compared to its average volume of 10,083,283. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.64 and a quick ratio of 0.64. The Charles Schwab Corporation has a fifty-two week low of $83.96 and a fifty-two week high of $114.53. The firm has a market cap of $167.78 billion, a PE ratio of 17.64, a PEG ratio of 0.84 and a beta of 0.79. The company's 50-day simple moving average is $106.37 and its 200-day simple moving average is $98.08.

Charles Schwab (NYSE:SCHW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.56 by $0.06. Charles Schwab had a net margin of 38.79% and a return on equity of 24.53%. The company had revenue of $7.07 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm earned $1.14 earnings per share. The company's revenue for the quarter was up 20.9% compared to the same quarter last year. Sell-side analysts anticipate that The Charles Schwab Corporation will post 6.46 earnings per share for the current year.

Charles Schwab Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, August 14th. Charles Schwab's payout ratio is currently 23.27%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings upgraded Charles Schwab from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, September 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Charles Schwab in a research report on Wednesday, July 22nd. Piper Sandler dropped their price target on shares of Charles Schwab from $118.00 to $100.00 and set a "neutral" rating for the company in a research note on Friday. Barclays upped their target price on shares of Charles Schwab from $122.00 to $125.00 and gave the company an "overweight" rating in a research report on Wednesday, July 22nd. Finally, Zacks Research downgraded Charles Schwab from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $119.58.

Charles Schwab Company Profile

Charles Schwab Corporation NYSE: SCHW is a financial services company that provides brokerage, investment, banking and wealth management services to individual investors, employers, institutions and independent investment advisors. Its offerings include online and mobile trading, securities brokerage, retirement accounts, financial planning, portfolio management, banking products, research and access to mutual funds and exchange-traded funds.

The company operates through businesses including Schwab Brokerage, Schwab Wealth Advisory, Schwab Asset Management and Charles Schwab Bank.

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