WESCO International, Inc. (NYSE:WCC) Plans Quarterly Dividend of $0.41

WESCO International, Inc. (NYSE:WCC) announced a quarterly dividend on Monday, December 2nd,RTT News reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.4125 per share by the technology company on Tuesday, December 31st. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.78%.

WESCO International has a payout ratio of 11.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect WESCO International to earn $13.89 per share next year, which means the company should continue to be able to cover its $1.65 annual dividend with an expected future payout ratio of 11.9%.

WESCO International Stock Performance

NYSE:WCC traded up $0.52 during mid-day trading on Tuesday, hitting $212.59. The stock had a trading volume of 21,288 shares, compared to its average volume of 699,249. WESCO International has a twelve month low of $132.37 and a twelve month high of $216.17. The stock has a market cap of $10.42 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 1.73 and a beta of 2.01. The company’s 50 day simple moving average is $186.13 and its 200 day simple moving average is $173.27. 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 (NYSE:WCC) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same period last year, the firm posted $4.49 earnings per share. The firm’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that WESCO International will post 12.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Stephens upped their target price on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. KeyCorp boosted their price objective on shares of WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Robert W. Baird raised their price objective on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada upped their price target on shares of WESCO International from $186.00 to $199.00 and gave the company a “sector perform” 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 report on Monday, November 4th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, WESCO International presently has a consensus rating of “Buy” and a consensus price target of $208.86.

Insider Activity

In other WESCO International 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 value 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 approximately $10,377,990. This trade represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David S. Schulz sold 14,938 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total value of $3,085,443.90. Following the sale, the chief financial officer now owns 104,471 shares in the company, valued at approximately $21,578,485.05. The trade was a 12.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,586 shares of company stock worth $6,565,762 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

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).