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

StockNews.com downgraded shares of WESCO International (NYSE:WCC) from a buy rating to a hold rating in a report published on Tuesday morning.

Several other equities research analysts have also recently issued reports on WCC. KeyCorp lifted their price objective on shares of WESCO International from $190.00 to $205.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. Robert W. Baird reaffirmed a neutral rating and set a $195.00 price objective (down from $200.00) on shares of WESCO International in a research report on Wednesday, May 29th. Loop Capital raised their target price on WESCO International from $190.00 to $200.00 and gave the stock a buy rating in a research report on Monday, May 6th. Baird R W downgraded WESCO International from a strong-buy rating to a hold rating in a report on Wednesday, May 29th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $172.00 price objective on shares of WESCO International in a report on Thursday, June 20th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $191.17.

WESCO International Stock Up 1.5 %

NYSE:WCC opened at $157.41 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $8.00 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.13 and a beta of 2.06. WESCO International has a 52 week low of $122.30 and a 52 week high of $195.43. The stock’s fifty day moving average is $171.97 and its two-hundred day moving average is $168.19.

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

WESCO International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.4125 per share. The ex-dividend date was Friday, June 14th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.05%. WESCO International’s payout ratio is 13.74%.

Insider Buying and Selling

In related news, CAO Matthew S. Kulasa sold 474 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $191.69, for a total value of $90,861.06. Following the sale, the chief accounting officer now directly owns 3,555 shares of the company’s stock, valued at approximately $681,457.95. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the sale, the insider now owns 2,134,683 shares of the company’s stock, valued at $369,342,852.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew S. Kulasa sold 474 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 3,555 shares of the company’s stock, valued at approximately $681,457.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,754,960 shares of company stock valued at $303,728,784. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On WESCO International

Several hedge funds have recently made changes to their positions in WCC. Rise Advisors LLC acquired a new position in WESCO International during the first quarter worth approximately $26,000. KB Financial Partners LLC increased its holdings in shares of WESCO International by 76.8% during the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after buying an additional 86 shares during the last quarter. GAMMA Investing LLC raised its position in shares of WESCO International by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares during the period. Anchor Investment Management LLC acquired a new position in WESCO International in the fourth quarter valued at $48,000. Finally, Richelieu Gestion SA purchased a new stake in WESCO International during the fourth quarter valued at about $122,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

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).