WESCO International (NYSE:WCC) Raised 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 published on Monday morning.

Several other research firms have also recently commented on WCC. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Loop Capital upped their price objective on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. 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. Robert W. Baird upped their price objective on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Oppenheimer upped 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. 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 stock. According to data from MarketBeat.com, WESCO International has a consensus rating of “Buy” and an average price target of $208.86.

WESCO International Trading Down 2.2 %

WCC opened at $207.78 on Monday. WESCO International has a 12 month low of $132.37 and a 12 month high of $213.41. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.74 and a beta of 2.01. 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 business has a fifty day moving average price of $170.90 and a 200 day moving average price of $168.71.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping the consensus estimate of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the previous year, the firm posted $4.49 EPS. WESCO International’s revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts expect that WESCO International will post 12.18 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s dividend payout ratio is presently 13.21%.

Insider Buying and Selling at WESCO International

In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction that occurred 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 directly owns 54,621 shares of the company’s stock, valued at $10,377,990. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction that occurred 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 directly owns 54,621 shares of the company’s stock, valued at $10,377,990. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. This represents 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 company insiders.

Hedge Funds Weigh In On WESCO International

A number of large investors have recently modified their holdings of WCC. Whittier Trust Co. of Nevada Inc. raised its stake in shares of WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after buying an additional 69 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in shares of WESCO International during the 3rd quarter worth approximately $28,000. GAMMA Investing LLC increased its stake in WESCO International by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares in the last quarter. UMB Bank n.a. increased its stake in WESCO International by 18.3% in 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 in the last quarter. Finally, Innealta Capital LLC purchased a new position in WESCO International in the 2nd quarter valued at approximately $152,000. 93.76% of the stock is owned by hedge funds and other institutional investors.

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).