WESCO International (NYSE:WCC) Rating Increased to Buy at StockNews.com

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

WCC has been the subject of several other reports. KeyCorp boosted their target price on WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Stephens reissued an “overweight” rating and set a $190.00 target price on shares of WESCO International in a research report on Monday, August 5th. Robert W. Baird boosted their price target on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Loop Capital increased their target price on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Finally, Oppenheimer lifted their price target on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, WESCO International has a consensus rating of “Buy” and a consensus target price of $208.86.

WESCO International Stock Up 13.2 %

WCC stock opened at $212.61 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29. The firm 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 firm has a 50 day simple moving average of $169.02 and a 200 day simple moving average of $168.12. WESCO International has a 12 month low of $132.37 and a 12 month high of $213.29.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.36. The firm 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%. WESCO International’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the previous year, the firm earned $4.49 earnings per share. Equities research analysts forecast that WESCO International will post 12.18 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.4125 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.78%. WESCO International’s payout ratio is 13.21%.

Insider Transactions at WESCO International

In related news, 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 value of $998,307.64. Following the transaction, the director now owns 27,004 shares in the company, valued at approximately $4,632,806.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Nelson John Squires III sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the transaction, the executive vice president now owns 54,621 shares in the company, valued at approximately $10,377,990. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the sale, the director now owns 27,004 shares of the company’s stock, valued at approximately $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. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of WESCO International

Several large investors have recently made changes to their positions in WCC. AEGON ASSET MANAGEMENT UK Plc increased its position in shares of WESCO International by 0.5% during the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 186,081 shares of the technology company’s stock worth $31,258,000 after acquiring an additional 983 shares in the last quarter. Innealta Capital LLC boosted its holdings in WESCO International by 68.0% during the 3rd quarter. Innealta Capital LLC now owns 1,606 shares of the technology company’s stock worth $270,000 after acquiring an additional 650 shares during the last quarter. Van ECK Associates Corp grew its position in WESCO International by 128.3% in the 3rd quarter. Van ECK Associates Corp now owns 29,666 shares of the technology company’s stock worth $5,182,000 after purchasing an additional 16,673 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in WESCO International by 142.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock valued at $5,050,000 after buying an additional 17,682 shares during the last quarter. Finally, EMC Capital Management lifted its position in shares of WESCO International by 580.8% during the 3rd quarter. EMC Capital Management now owns 16,094 shares of the technology company’s stock worth $2,703,000 after buying an additional 13,730 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).