Watsco (NYSE:WSO.B) Shares Gap Down – Here’s Why

Shares of Watsco Inc (NYSE:WSO.B) gapped down before the market opened on Thursday . The stock had previously closed at $535.00, but opened at $475.15. Watsco shares last traded at $497.05, with a volume of 401 shares traded.

Watsco Trading Down 7.5 %

The business has a fifty day simple moving average of $518.44 and a two-hundred day simple moving average of $494.96. The stock has a market cap of $19.99 billion, a PE ratio of 38.26 and a beta of 0.61.

Watsco (NYSE:WSO.B) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter. The company had revenue of $2.16 billion for the quarter. Watsco had a return on equity of 17.77% and a net margin of 6.99%.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $2.70 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.18%. Watsco’s payout ratio is 83.46%.

About Watsco

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.