MetLife Investment Management LLC Acquires 1,075 Shares of Watsco, Inc. (NYSE:WSO)

MetLife Investment Management LLC grew its holdings in Watsco, Inc. (NYSE:WSO) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,978 shares of the construction company’s stock after acquiring an additional 1,075 shares during the period. MetLife Investment Management LLC’s holdings in Watsco were worth $8,843,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Quarry LP purchased a new position in Watsco in the 2nd quarter worth approximately $26,000. Tortoise Investment Management LLC raised its position in shares of Watsco by 76.2% during the second 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 last quarter. Ashton Thomas Securities LLC bought a new position in shares of Watsco during the third quarter worth $43,000. Massmutual Trust Co. FSB ADV grew its stake in Watsco by 30.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock valued at $46,000 after acquiring an additional 22 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in Watsco in the 3rd quarter valued at $48,000. Institutional investors own 89.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WSO. Robert W. Baird cut their price objective on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Northcoast Research assumed coverage on Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $491.25.

Watsco Trading Up 0.8 %

WSO opened at $554.67 on Friday. The stock has a 50-day moving average of $504.14 and a 200 day moving average of $486.93. Watsco, Inc. has a 12 month low of $373.33 and a 12 month high of $571.41. The firm has a market cap of $22.40 billion, a P/E ratio of 42.86 and a beta of 0.88.

Watsco (NYSE:WSO) last announced its 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). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a return on equity of 17.77% and a net margin of 6.99%. Watsco’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $4.35 EPS. On average, research analysts forecast that Watsco, Inc. will post 13.06 earnings per share for the current fiscal year.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were given a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) 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.