Watsco, Inc. (NYSE:WSO) Shares Acquired by MetLife Investment Management LLC

MetLife Investment Management LLC raised its position in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 6.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of WSO. FMR LLC lifted its position in Watsco by 10.6% during the third quarter. FMR LLC now owns 3,624,159 shares of the construction company's stock valued at $1,782,651,000 after purchasing an additional 346,470 shares during the last quarter. International Assets Investment Management LLC increased its stake in Watsco by 48,984.7% during the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company's stock worth $114,924,000 after acquiring an additional 233,167 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Watsco by 5.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,252,822 shares of the construction company's stock valued at $616,357,000 after purchasing an additional 62,041 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of Watsco by 29.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 118,763 shares of the construction company's stock valued at $58,417,000 after purchasing an additional 27,215 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Watsco by 225.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,830 shares of the construction company's stock worth $16,610,000 after purchasing an additional 26,911 shares during the period. 89.71% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WSO has been the topic of several recent analyst reports. Robert W. Baird reduced their target price on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Northcoast Research began coverage on shares of Watsco in a research report on Friday, November 22nd. They issued a "neutral" rating on the stock. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $491.25.

Watsco Stock Performance

Watsco stock traded down $3.07 during trading hours on Friday, hitting $551.60. The company had a trading volume of 143,431 shares, compared to its average volume of 281,259. The firm has a market cap of $22.27 billion, a P/E ratio of 43.18 and a beta of 0.88. The company has a 50-day moving average price of $505.23 and a two-hundred day moving average price of $487.40. Watsco, Inc. has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share 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 firm had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the prior year, the company posted $4.35 earnings per share. Watsco's quarterly revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Watsco, Inc. will post 13.06 EPS for the current year.

Watsco Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 1.96%. Watsco's dividend payout ratio is currently 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.