Allspring Global Investments Holdings LLC Has $37.85 Million Stock Position in Watsco, Inc. (NYSE:WSO)

Allspring Global Investments Holdings LLC cut its holdings in shares of Watsco, Inc. (NYSE:WSO) by 27.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,723 shares of the construction company’s stock after selling 29,834 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.20% of Watsco worth $37,854,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Avidian Wealth Enterprises LLC grew its holdings in shares of Watsco by 1.8% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 1,196 shares of the construction company’s stock worth $567,000 after purchasing an additional 21 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Watsco by 1.0% in the 4th quarter. Louisiana State Employees Retirement System now owns 9,700 shares of the construction company’s stock valued at $4,597,000 after buying an additional 100 shares during the period. Regents Gate Capital LLP acquired a new position in shares of Watsco in the 4th quarter valued at $8,476,000. Wingate Wealth Advisors Inc. bought a new position in shares of Watsco during the 4th quarter worth about $36,000. Finally, Kestra Private Wealth Services LLC boosted its holdings in Watsco by 37.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 1,337 shares of the construction company’s stock valued at $634,000 after purchasing an additional 364 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Trading Up 1.8 %

WSO opened at $485.21 on Friday. Watsco, Inc. has a 1-year low of $373.33 and a 1-year high of $571.41. The stock has a market capitalization of $19.59 billion, a PE ratio of 37.50 and a beta of 0.95. The firm has a 50-day moving average price of $485.44 and a two-hundred day moving average price of $490.99.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a dividend of $2.70 per share. This represents a $10.80 annualized dividend and a yield of 2.23%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio is 83.46%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Robert W. Baird decreased their price target on 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 assumed coverage on shares of Watsco in a report on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Raymond James started coverage on Watsco in a research report on Friday, January 17th. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $488.33.

Insider Buying and Selling at Watsco

In other news, EVP Barry S. Logan sold 10,998 shares of the business’s 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 is accessible through this hyperlink. Corporate insiders own 12.86% of the company’s stock.

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.