WESCO International (NYSE:WCC) Lowered to Hold at StockNews.com

StockNews.com lowered shares of WESCO International (NYSE:WCC) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Other analysts have also issued reports about the company. Baird R W lowered WESCO International from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. JPMorgan Chase & Co. lowered their target price 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. KeyCorp raised 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. Oppenheimer boosted their price objective on WESCO International from $190.00 to $200.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada cut their target price on WESCO International from $176.00 to $172.00 and set a sector perform rating for the company in a research note on Friday, May 3rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $191.17.

WESCO International Stock Performance

WCC opened at $176.38 on Friday. WESCO International has a 1-year low of $122.30 and a 1-year high of $195.43. The company has a market cap of $8.97 billion, a price-to-earnings ratio of 14.69, a PEG ratio of 1.25 and a beta of 2.06. The company’s fifty day moving average price is $171.70 and its two-hundred day moving average price is $167.52. The company has a current ratio of 2.21, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The firm had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the company posted $3.75 earnings per share. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts expect that WESCO International will post 14.07 EPS for the current fiscal year.

WESCO International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, June 14th. WESCO International’s payout ratio is 13.74%.

Insiders Place Their Bets

In other news, CAO Matthew S. Kulasa sold 474 shares of WESCO International stock in a transaction on Friday, May 24th. The shares were sold at an average price of $191.69, for a total transaction of $90,861.06. Following the completion of the sale, the chief accounting officer now directly owns 3,555 shares of the company’s stock, valued at approximately $681,457.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Matthew S. Kulasa sold 474 shares of the stock in a transaction 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 transaction, the chief accounting officer now owns 3,555 shares of the company’s stock, valued at $681,457.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christine Ann Wolf sold 4,486 shares of WESCO International stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $190.13, for a total value of $852,923.18. Following the sale, the executive vice president now directly owns 30,304 shares of the company’s stock, valued at approximately $5,761,699.52. The disclosure for this sale can be found here. Insiders sold a total of 1,760,312 shares of company stock valued at $304,565,784 in the last quarter. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WCC. Rise Advisors LLC bought a new stake in shares of WESCO International in the 1st quarter worth approximately $26,000. KB Financial Partners LLC lifted its stake in WESCO International by 76.8% in the third quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after purchasing an additional 86 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in WESCO International during the fourth quarter valued at about $48,000. GAMMA Investing LLC bought a new position in shares of WESCO International during the fourth quarter valued at about $56,000. Finally, Richelieu Gestion SA bought a new stake in shares of WESCO International in the 4th quarter valued at about $122,000. 93.76% of the stock is currently owned by institutional investors.

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).