Allspring Global Investments Holdings LLC bought a new stake in Watsco, Inc. (NYSE:WSO – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 209,824 shares of the construction company’s stock, valued at approximately $52,330,000. Allspring Global Investments Holdings LLC owned about 0.54% of Watsco as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Amundi acquired a new stake in Watsco in the 2nd quarter valued at about $25,000. Ronald Blue Trust Inc. purchased a new stake in shares of Watsco in the fourth quarter valued at about $36,000. Private Trust Co. NA acquired a new stake in shares of Watsco in the second quarter valued at approximately $37,000. Eagle Bay Advisors LLC increased its stake in shares of Watsco by 73.4% during the 3rd quarter. Eagle Bay Advisors LLC now owns 163 shares of the construction company’s stock worth $42,000 after purchasing an additional 69 shares in the last quarter. Finally, IMA Wealth Inc. acquired a new position in shares of Watsco during the 2nd quarter worth approximately $54,000. Hedge funds and other institutional investors own 84.73% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have commented on WSO. Stephens increased their target price on Watsco from $300.00 to $375.00 and gave the company an “overweight” rating in a report on Tuesday, February 21st. KeyCorp lifted their price objective on Watsco from $335.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 17th. StockNews.com began coverage on shares of Watsco in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Robert W. Baird lifted their price target on shares of Watsco from $323.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. Finally, UBS Group began coverage on shares of Watsco in a research report on Tuesday, January 10th. They issued a “neutral” rating and a $280.00 price objective for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Watsco presently has an average rating of “Hold” and a consensus target price of $313.67.
Watsco Trading Up 0.9 %
Watsco (NYSE:WSO – Get Rating) last released its earnings results on Thursday, February 16th. The construction company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.23. The firm had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.61 billion. Watsco had a net margin of 8.26% and a return on equity of 25.17%. Watsco’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.02 earnings per share. As a group, equities analysts predict that Watsco, Inc. will post 13.82 earnings per share for the current year.
Watsco Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 31st. Investors of record on Tuesday, January 17th were given a $2.45 dividend. This is a positive change from Watsco’s previous quarterly dividend of $2.20. This represents a $9.80 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend was Friday, January 13th. Watsco’s dividend payout ratio (DPR) is 63.60%.
About Watsco
Watsco, Inc engages in the distribution of air conditioning, heating and refrigeration equipment, and related parts and supplies. Its products include residential central air conditioners, gas, electric & oil furnaces, commercial air conditioning and heating equipment, and other specialized equipment and parts, including replacement compressors, evaporator coils, motors and other component parts and supplies, including thermostats, insulation material, refrigerants, ductwork, grills, registers, sheet metal, tools, copper tubing, concrete pads, tape, adhesives, and other ancillary supplies.
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