Watsco (NYSE:WSO) Shares Gap Down to $503.67

Watsco, Inc. (NYSE:WSO) gapped down before the market opened on Tuesday . The stock had previously closed at $503.67, but opened at $488.55. Watsco shares last traded at $479.50, with a volume of 85,358 shares changing hands.

Wall Street Analysts Forecast Growth

WSO has been the topic of several analyst reports. Robert W. Baird lifted their target price on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Stephens restated an “overweight” rating and issued a $500.00 price objective on shares of Watsco in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $410.57.

Watsco Stock Down 5.2 %

The company has a 50-day moving average price of $482.07 and a 200 day moving average price of $440.43. The firm has a market capitalization of $19.24 billion, a PE ratio of 36.79 and a beta of 0.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.92 and a quick ratio of 1.31.

Watsco Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Tuesday, July 16th will be issued a $2.70 dividend. The ex-dividend date of this dividend is Tuesday, July 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.26%. Watsco’s dividend payout ratio (DPR) is 83.08%.

Insider Transactions at Watsco

In other news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director John Alexander Macdonald sold 5,334 shares of Watsco stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $466.41, for a total value of $2,487,830.94. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Barry S. Logan sold 774 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $473.85, for a total value of $366,759.90. Following the sale, the executive vice president now directly owns 1,770 shares in the company, valued at $838,714.50. The disclosure for this sale can be found here. Insiders own 12.86% of the company’s stock.

Institutional Investors Weigh In On Watsco

Large investors have recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. bought a new stake in Watsco during the fourth quarter worth approximately $25,000. First PREMIER Bank purchased a new position in shares of Watsco during the first quarter valued at approximately $25,000. EntryPoint Capital LLC boosted its position in shares of Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after buying an additional 29 shares during the period. Cullen Frost Bankers Inc. purchased a new position in shares of Watsco during the fourth quarter valued at approximately $28,000. Finally, ORG Partners LLC purchased a new position in shares of Watsco during the first quarter valued at approximately $31,000. 89.71% of the stock is owned by institutional investors.

About Watsco

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.