WESCO International (NYSE:WCC) Reaches New 12-Month High Following Analyst Upgrade

WESCO International, Inc. (NYSE:WCC) shares hit a new 52-week high on Wednesday after Stephens raised their price target on the stock from $190.00 to $205.00. Stephens currently has an overweight rating on the stock. WESCO International traded as high as $208.89 and last traded at $208.89, with a volume of 83136 shares. The stock had previously closed at $187.81.

Other analysts have also issued research reports about the company. Royal Bank of Canada upped their price objective on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. KeyCorp lifted 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. Oppenheimer boosted their price objective on WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Monday. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, WESCO International currently has an average rating of “Buy” and a consensus price target of $208.86.

Insider Transactions at WESCO International

In related 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 transaction of $998,307.64. Following the sale, the director now directly owns 27,004 shares in the company, valued at $4,632,806.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Nelson John Squires III sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the sale, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of the firm’s 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 directly owns 27,004 shares in the company, valued at $4,632,806.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Several hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. increased its position in WESCO International by 23,727.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock valued at $251,896,000 after acquiring an additional 1,582,379 shares during the period. Bank of New York Mellon Corp raised its stake in shares of WESCO International by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 413,156 shares of the technology company’s stock worth $65,494,000 after purchasing an additional 8,641 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in shares of WESCO International during the second quarter worth $52,782,000. Farmers & Merchants Investments Inc. grew its position in WESCO International by 1.5% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company’s stock valued at $32,753,000 after buying an additional 2,923 shares during the last quarter. Finally, Davis Selected Advisers increased its stake in WESCO International by 1.5% in the 2nd quarter. Davis Selected Advisers now owns 193,646 shares of the technology company’s stock valued at $30,697,000 after buying an additional 2,824 shares during the period. Institutional investors and hedge funds own 93.76% of the company’s stock.

WESCO International Stock Performance

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 company has a market cap of $10.45 billion, a PE ratio of 17.02, a P/E/G ratio of 1.52 and a beta of 2.01. The stock’s 50-day simple moving average is $169.02 and its 200 day simple moving average is $168.12.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. WESCO International’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.49 earnings per share. As a group, equities analysts anticipate that WESCO International, Inc. will post 12.18 EPS for the current year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date 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).