Allspring Global Investments Holdings LLC Sells 29,834 Shares of Watsco, Inc. (NYSE:WSO)

Allspring Global Investments Holdings LLC lowered its stake in shares of Watsco, Inc. (NYSE:WSO - Free Report) by 27.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 80,723 shares of the construction company's stock after selling 29,834 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.20% of Watsco worth $37,854,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. J. W. Coons Advisors LLC grew its holdings in Watsco by 0.7% during the 3rd quarter. J. W. Coons Advisors LLC now owns 2,999 shares of the construction company's stock valued at $1,475,000 after buying an additional 20 shares in the last quarter. My Legacy Advisors LLC grew its holdings in Watsco by 3.2% during the 4th quarter. My Legacy Advisors LLC now owns 687 shares of the construction company's stock valued at $329,000 after buying an additional 21 shares in the last quarter. Avidian Wealth Enterprises LLC grew its holdings in Watsco by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company's stock valued at $567,000 after buying an additional 21 shares in the last quarter. Centennial Wealth Advisory LLC grew its holdings in Watsco by 3.0% during the 4th quarter. Centennial Wealth Advisory LLC now owns 754 shares of the construction company's stock valued at $358,000 after buying an additional 22 shares in the last quarter. Finally, CWM LLC grew its holdings in Watsco by 2.6% during the 3rd quarter. CWM LLC now owns 952 shares of the construction company's stock valued at $468,000 after buying an additional 24 shares in the last quarter. Institutional investors own 89.71% of the company's stock.

Watsco Stock Performance

NYSE WSO traded up $49.12 on Tuesday, hitting $532.81. 356,971 shares of the stock were exchanged, compared to its average volume of 223,082. The stock has a fifty day moving average price of $484.70 and a two-hundred day moving average price of $491.17. The firm has a market capitalization of $21.51 billion, a P/E ratio of 40.91 and a beta of 0.95. Watsco, Inc. has a 52-week low of $373.33 and a 52-week high of $571.41.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24. Watsco had a net margin of 6.99% and a return on equity of 17.77%. Sell-side analysts expect that Watsco, Inc. will post 13.03 earnings per share for the current fiscal year.

Watsco Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.03%. Watsco's dividend payout ratio (DPR) is 83.46%.

Wall Street Analyst Weigh In

WSO has been the subject of a number of recent research reports. Northcoast Research initiated coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating for the company. Robert W. Baird cut their target price on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Finally, Raymond James assumed coverage on shares of Watsco in a report on Friday, January 17th. They issued a "market perform" rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Watsco currently has a consensus rating of "Hold" and an average target price of $488.33.

Insider Transactions at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction 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 can be accessed through the SEC website. Corporate insiders own 12.86% of the company's stock.

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.