Eastern Bank Has $1.39 Million Holdings in Watsco, Inc. (NYSE:WSO)

Eastern Bank lessened its stake in Watsco, Inc. (NYSE:WSO) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,934 shares of the construction company’s stock after selling 40 shares during the quarter. Eastern Bank’s holdings in Watsco were worth $1,390,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WSO. Quarry LP acquired a new stake in shares of Watsco in the 2nd quarter valued at approximately $26,000. Ashton Thomas Securities LLC acquired a new stake in shares of Watsco in the 3rd quarter valued at approximately $43,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after buying an additional 22 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Watsco in the 3rd quarter valued at approximately $48,000. Finally, MCF Advisors LLC boosted its holdings in shares of Watsco by 27.8% in the 3rd quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock valued at $57,000 after buying an additional 25 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Insider Buying and Selling at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Shares of NYSE WSO opened at $475.85 on Tuesday. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41. The stock has a market capitalization of $19.22 billion, a P/E ratio of 36.77 and a beta of 0.95. The stock’s fifty day moving average is $510.65 and its 200 day moving average is $492.04.

Watsco (NYSE:WSO) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the business posted $4.35 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, January 17th. Watsco’s dividend payout ratio is presently 83.46%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Robert W. Baird cut their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th.

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.