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

Eastern Bank trimmed its position in shares of Watsco, Inc. (NYSE:WSO) by 1.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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.

A number of other hedge funds have also recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new position in shares of Watsco in the second quarter worth approximately $372,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Watsco in the second quarter worth approximately $61,000. Choreo LLC acquired a new position in shares of Watsco in the second quarter worth approximately $310,000. Daiwa Securities Group Inc. lifted its stake in shares of Watsco by 9.1% in the second quarter. Daiwa Securities Group Inc. now owns 2,400 shares of the construction company’s stock worth $1,112,000 after acquiring an additional 200 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Watsco by 3.9% in the second quarter. American Century Companies Inc. now owns 13,733 shares of the construction company’s stock worth $6,362,000 after acquiring an additional 513 shares during the period. 89.71% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on WSO. Northcoast Research started coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird lowered their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday, October 24th.

Insider Activity

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.86% of the company’s stock.

Watsco Stock Performance

Shares of WSO stock opened at $475.85 on Tuesday. The company has a market cap of $19.22 billion, a P/E ratio of 36.77 and a beta of 0.95. The stock has a 50 day simple moving average of $510.65 and a two-hundred day simple moving average of $492.04. Watsco, Inc. has a fifty-two week low of $373.33 and a fifty-two week high of $571.41.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The company’s revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.35 EPS. On average, research analysts predict that Watsco, Inc. will post 13.06 earnings per share for the current year.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $2.70 per share. The ex-dividend date is Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. Watsco’s dividend payout ratio is 83.46%.

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.