WESCO International (NYSE:WCC) Upgraded 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 Friday.

Other equities research analysts also recently issued research reports about the company. KeyCorp raised their price objective on WESCO International from $190.00 to $205.00 and gave the company an overweight rating in a research report on Friday. Royal Bank of Canada lowered their price target on shares of WESCO International from $176.00 to $172.00 and set a sector perform rating on the stock in a report on Friday. Robert W. Baird decreased their target price on shares of WESCO International from $203.00 to $170.00 and set an outperform rating for the company in a research report on Wednesday, February 14th. JPMorgan Chase & Co. cut their price target on shares of WESCO International from $180.00 to $175.00 and set an overweight rating on the stock in a report on Friday, March 15th. Finally, Oppenheimer increased their price objective on WESCO International from $190.00 to $200.00 and gave the company an outperform rating in a report on Friday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $188.67.

WESCO International Price Performance

Shares of WCC opened at $167.70 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.42 and a current ratio of 2.21. The company has a 50 day moving average price of $161.27 and a 200-day moving average price of $159.91. WESCO International has a fifty-two week low of $121.90 and a fifty-two week high of $195.43. The stock has a market capitalization of $8.54 billion, a PE ratio of 13.96, a PEG ratio of 1.19 and a beta of 2.07.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The business had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.30 billion. WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm earned $3.75 EPS. Equities analysts predict that WESCO International will post 14.12 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 0.98%. The ex-dividend date was Thursday, March 14th. This is an increase from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s payout ratio is currently 13.74%.

Insider Buying and Selling at WESCO International

In other news, EVP Nelson John Squires III sold 3,490 shares of WESCO International stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction of $663,100.00. Following the completion of the sale, the executive vice president now directly owns 54,385 shares in the company, valued at $10,333,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the transaction, the executive vice president now directly owns 54,385 shares of the company’s stock, valued at $10,333,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following the sale, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Institutional Trading of WESCO International

Several large investors have recently made changes to their positions in WCC. Lyrical Asset Management LP raised its holdings in shares of WESCO International by 2,583.9% during the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock worth $133,040,000 after purchasing an additional 736,616 shares during the last quarter. River Road Asset Management LLC purchased a new stake in WESCO International in the fourth quarter valued at $79,404,000. Bank of New York Mellon Corp grew its position in WESCO International by 1.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 417,250 shares of the technology company’s stock worth $60,009,000 after purchasing an additional 4,187 shares during the period. Farmers & Merchants Investments Inc. raised its stake in shares of WESCO International by 0.4% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 190,759 shares of the technology company’s stock valued at $33,169,000 after buying an additional 790 shares during the last quarter. Finally, J. L. Bainbridge & Co. Inc. raised its stake in shares of WESCO International by 4.5% during the 3rd quarter. J. L. Bainbridge & Co. Inc. now owns 164,213 shares of the technology company’s stock valued at $23,617,000 after buying an additional 7,048 shares during the last quarter. 93.76% of the stock is owned by hedge funds and other 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).