WESCO International, Inc. (NYSE:WCC) Receives Consensus Rating of “Buy” from Brokerages

Shares of WESCO International, Inc. (NYSE:WCC) have been given a consensus recommendation of “Buy” by the eight research firms that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $208.86.

A number of equities analysts recently issued reports on WCC shares. Loop Capital upped their price target on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. KeyCorp upped their target price on shares of WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Baird R W raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Stephens boosted their price objective on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Oppenheimer increased their target price on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

Insider Buying and Selling at WESCO International

In other WESCO International news, EVP William Clayton Geary sold 2,829 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total value of $582,010.17. Following the transaction, the executive vice president now directly owns 35,063 shares in the company, valued at approximately $7,213,510.99. This trade represents a 7.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the transaction, the director now owns 27,004 shares in the company, valued at $4,632,806.24. This represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,586 shares of company stock worth $6,565,762. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WESCO International

A number of institutional investors have recently bought and sold shares of WCC. Wilmington Savings Fund Society FSB bought a new stake in WESCO International during the third quarter valued at about $592,000. Geode Capital Management LLC raised its stake in shares of WESCO International by 3.0% in the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock worth $128,143,000 after buying an additional 22,080 shares during the period. MetLife Investment Management LLC lifted its position in shares of WESCO International by 0.4% during the 3rd quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company’s stock valued at $3,881,000 after buying an additional 85 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of WESCO International by 80.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 12,034 shares of the technology company’s stock valued at $2,021,000 after acquiring an additional 5,363 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in WESCO International in the 3rd quarter worth approximately $1,160,000. 93.76% of the stock is owned by institutional investors.

WESCO International Price Performance

WCC stock opened at $213.19 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. The firm has a 50 day moving average price of $182.85 and a 200-day moving average price of $172.43. WESCO International has a 52-week low of $132.37 and a 52-week high of $216.17. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 1.72 and a beta of 2.01.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the previous year, the business earned $4.49 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts forecast that WESCO International will post 12.22 EPS for the current fiscal year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s dividend payout ratio is currently 13.21%.

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).