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 research note released on Friday morning.

Several other brokerages also recently weighed in on WCC. Stephens lifted their price target on shares of WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Robert W. Baird upped their target price on shares of WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada increased their price target on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research note on Friday, November 1st. Loop Capital boosted their price objective on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $215.88.

WESCO International Trading Down 1.0 %

NYSE:WCC opened at $191.73 on Friday. WESCO International has a one year low of $132.37 and a one year high of $216.17. The business has a fifty day moving average price of $194.08 and a 200-day moving average price of $176.72. The firm has a market capitalization of $9.40 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the prior year, the business posted $4.49 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Sell-side analysts forecast that WESCO International will post 12.3 EPS for the current year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend was Friday, December 13th. WESCO International’s dividend payout ratio is presently 13.21%.

Insider Transactions at WESCO International

In other news, EVP William Clayton Geary sold 2,829 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total value of $582,010.17. Following the sale, the executive vice president now directly owns 35,063 shares in the company, valued at $7,213,510.99. The trade was a 7.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David S. Schulz sold 14,938 shares of WESCO International stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total value of $3,085,443.90. Following the completion of the transaction, the chief financial officer now owns 104,471 shares of the company’s stock, valued at approximately $21,578,485.05. This represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,767 shares of company stock valued at $5,567,454 in the last ninety days. Corporate insiders own 3.10% of the company’s stock.

Institutional Trading of WESCO International

Several hedge funds and other institutional investors have recently bought and sold shares of WCC. V Square Quantitative Management LLC bought a new position in WESCO International during the third quarter valued at $28,000. GAMMA Investing LLC boosted its stake in shares of WESCO International by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after purchasing an additional 75 shares during the period. UMB Bank n.a. grew its holdings in WESCO International by 18.3% during the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after purchasing an additional 98 shares during the last quarter. Highland Capital Management LLC purchased a new stake in WESCO International in the 3rd quarter worth about $221,000. Finally, Innealta Capital LLC lifted its stake in WESCO International by 68.0% in the third quarter. Innealta Capital LLC now owns 1,606 shares of the technology company’s stock worth $270,000 after purchasing an additional 650 shares during the last quarter. Hedge funds and other institutional investors 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).