First Hawaiian Bank Has $2.10 Million Position in Watsco, Inc. (NYSE:WSO)

First Hawaiian Bank lifted its position in shares of Watsco, Inc. (NYSE:WSO) by 1.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,435 shares of the construction company’s stock after buying an additional 46 shares during the period. First Hawaiian Bank’s holdings in Watsco were worth $2,102,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in WSO. Quarry LP bought a new stake in Watsco during the second quarter worth $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Watsco during the 3rd quarter worth $43,000. Massmutual Trust Co. FSB ADV boosted its stake in Watsco by 30.6% in the third 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 in the last quarter. Brooklyn Investment Group bought a new position in Watsco in the third quarter valued at about $48,000. Finally, MCF Advisors LLC raised its stake in Watsco by 27.8% during the third quarter. MCF Advisors LLC now owns 115 shares of the construction company’s stock worth $57,000 after acquiring an additional 25 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

WSO has been the topic of a number of research analyst reports. Northcoast Research assumed coverage on shares of Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird cut their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th.

Watsco Price Performance

Shares of NYSE WSO opened at $466.22 on Thursday. The company has a 50 day simple moving average of $511.01 and a 200 day simple moving average of $491.94. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41. The firm has a market cap of $18.83 billion, a PE ratio of 36.03 and a beta of 0.95.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.73 by ($0.51). The business 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%. Watsco’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $4.35 EPS. As a group, research analysts anticipate that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $2.70 dividend. The ex-dividend date is Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.32%. Watsco’s payout ratio is 83.46%.

Insider Buying and Selling

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total transaction of $5,589,293.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.86% of the stock is owned by insiders.

Watsco 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.