WESCO International, Inc. (NYSE:WCC) Given Consensus Recommendation of “Buy” by Analysts

Shares of WESCO International, Inc. (NYSE:WCC) have been given a consensus rating of “Buy” by the eight brokerages that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $208.86.

WCC has been the subject of several recent research reports. Robert W. Baird boosted their price target on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com raised shares of WESCO International from a “hold” rating to a “buy” rating in a report on Monday. Stephens raised their target price on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday. KeyCorp raised their price objective on WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Oppenheimer raised their price target on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st.

Insider Activity at WESCO International

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

Institutional Trading of WESCO International

Several hedge funds have recently bought and sold shares of WCC. Whittier Trust Co. of Nevada Inc. lifted its position in shares of WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after purchasing an additional 69 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of WESCO International in the 3rd quarter worth approximately $28,000. GAMMA Investing LLC grew its holdings in shares of 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 acquiring an additional 100 shares in the last quarter. UMB Bank n.a. increased its position in shares of WESCO International by 18.3% during the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after acquiring an additional 98 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in WESCO International during the second quarter worth $152,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

WESCO International Stock Up 1.8 %

Shares of WCC opened at $188.00 on Friday. The firm has a market cap of $9.24 billion, a P/E ratio of 15.05, a price-to-earnings-growth ratio of 1.55 and a beta of 2.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. WESCO International has a 52 week low of $132.37 and a 52 week high of $195.99. The firm’s 50-day simple moving average is $168.53 and its 200 day simple moving average is $167.88.

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

WESCO International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s 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).