MetLife Investment Management LLC Raises Stock Holdings in Watsco, Inc. (NYSE:WSO)

MetLife Investment Management LLC boosted its holdings in shares of Watsco, Inc. (NYSE:WSO) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,978 shares of the construction company’s stock after acquiring an additional 1,075 shares during the quarter. MetLife Investment Management LLC’s holdings in Watsco were worth $8,843,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new stake in shares of Watsco during the second quarter valued at $26,000. Tortoise Investment Management LLC boosted its position in Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after buying an additional 32 shares during the period. Ashton Thomas Securities LLC bought a new position in Watsco in the 3rd quarter worth about $43,000. Massmutual Trust Co. FSB ADV increased its position in shares of Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after acquiring an additional 22 shares during the period. Finally, Brooklyn Investment Group bought a new stake in shares of Watsco during the third quarter valued at approximately $48,000. Institutional investors own 89.71% of the company’s stock.

Watsco Stock Up 0.8 %

Shares of NYSE:WSO opened at $554.67 on Friday. The firm has a 50 day moving average of $504.14 and a 200 day moving average of $486.93. The company has a market capitalization of $22.40 billion, a price-to-earnings ratio of 42.86 and a beta of 0.88. Watsco, Inc. has a 52 week low of $373.33 and a 52 week high of $571.41.

Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate 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 period in the previous year, the firm posted $4.35 earnings per share. The company’s revenue was up 1.6% on a year-over-year basis. On average, sell-side analysts expect that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio is currently 83.46%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on WSO shares. Northcoast Research began coverage on Watsco in a research note on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird dropped their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $491.25.

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.