WESCO International (NYSE:WCC) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of WESCO International (NYSE:WCC) from a hold rating to a buy rating in a research report report published on Monday.

Other equities research analysts have also recently issued research reports about the stock. Loop Capital increased their target price on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 27th. KeyCorp raised their price objective on WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird lifted their price target on shares of WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday. Stephens restated an “overweight” rating and issued a $190.00 price objective on shares of WESCO International in a research note on Monday, August 5th. Finally, Royal Bank of Canada upped their target price on shares of WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $208.86.

WESCO International Stock Performance

Shares of NYSE WCC opened at $184.61 on Monday. WESCO International has a 12 month low of $132.37 and a 12 month high of $195.99. The company has a market cap of $9.08 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.55 and a beta of 2.01. The business’s 50 day moving average is $168.15 and its two-hundred day moving average is $167.66. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the previous year, the firm posted $4.49 earnings per share. WESCO International’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts expect that WESCO International will post 12.12 EPS for the current year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Friday, September 13th. WESCO International’s payout ratio is presently 13.21%.

Insider Activity at WESCO International

In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the sale, the executive vice president now owns 54,621 shares in the company, valued at approximately $10,377,990. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Nelson John Squires III sold 10,000 shares of WESCO International stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the sale, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the sale, the director now directly owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On WESCO International

A number of hedge funds and other institutional investors have recently bought and sold shares of WCC. Whittier Trust Co. of Nevada Inc. raised its position in shares of WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. UMB Bank n.a. increased its holdings in WESCO International by 18.3% in the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after purchasing an additional 98 shares during the last quarter. GAMMA Investing LLC lifted its stake in WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares during the period. Greenleaf Trust increased its stake in shares of WESCO International by 4.8% in the 3rd quarter. Greenleaf Trust now owns 2,401 shares of the technology company’s stock valued at $403,000 after acquiring an additional 111 shares during the last quarter. Finally, V Square Quantitative Management LLC acquired a new stake in shares of WESCO International in the 3rd quarter valued at approximately $28,000. 93.76% of the stock is owned by institutional investors.

About WESCO International

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).