WESCO International (NYSE:WCC) Price Target Lowered to $172.00 at Robert W. Baird

WESCO International (NYSE:WCC) had its target price reduced by Robert W. Baird from $195.00 to $172.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have a neutral rating on the technology company’s stock.

WCC has been the topic of a number of other research reports. StockNews.com downgraded WESCO International from a buy rating to a hold rating in a research report on Tuesday, July 2nd. Loop Capital lifted their target price on WESCO International from $190.00 to $200.00 and gave the company a buy rating in a research report on Monday, May 6th. Royal Bank of Canada reiterated a sector perform rating and set a $172.00 price target on shares of WESCO International in a report on Thursday, June 20th. KeyCorp lifted their price target on WESCO International from $190.00 to $205.00 and gave the stock an overweight rating in a report on Friday, May 3rd. Finally, Baird R W cut WESCO International from a strong-buy rating to a hold rating in a report on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, WESCO International presently has a consensus rating of Moderate Buy and an average price target of $186.14.

WESCO International Stock Performance

WCC stock opened at $150.54 on Friday. The business’s 50-day moving average price is $167.72 and its two-hundred day moving average price is $167.02. WESCO International has a 1-year low of $122.30 and a 1-year high of $195.43. The firm has a market cap of $7.65 billion, a PE ratio of 12.53, a P/E/G ratio of 1.23 and a beta of 2.06. The company has a current ratio of 2.28, a quick ratio of 1.33 and a debt-to-equity ratio of 1.07.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.27). WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the business earned $3.71 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, research analysts forecast that WESCO International will post 12.5 earnings per share for the current year.

WESCO International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, June 14th. WESCO International’s dividend payout ratio is presently 13.74%.

Insider Transactions at WESCO International

In related news, CAO Matthew S. Kulasa sold 474 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $191.69, for a total value of $90,861.06. Following the completion of the sale, the chief accounting officer now directly owns 3,555 shares in the company, valued at $681,457.95. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Matthew S. Kulasa sold 474 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $191.69, for a total value of $90,861.06. Following the completion of the sale, the chief accounting officer now directly owns 3,555 shares in the company, valued at $681,457.95. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Christine Ann Wolf sold 4,486 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $190.13, for a total transaction of $852,923.18. Following the transaction, the executive vice president now owns 30,304 shares of the company’s stock, valued at $5,761,699.52. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. raised its position in WESCO International by 1.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 192,056 shares of the technology company’s stock valued at $30,445,000 after purchasing an additional 1,857 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of WESCO International by 11.9% during the second quarter. Van ECK Associates Corp now owns 12,993 shares of the technology company’s stock worth $2,060,000 after buying an additional 1,378 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of WESCO International during the second quarter worth $152,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after buying an additional 69 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of WESCO International by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 413,156 shares of the technology company’s stock worth $65,494,000 after buying an additional 8,641 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

WESCO International Company Profile

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).