WESCO International, Inc. (NYSE:WCC) Receives Average Rating of “Buy” from Brokerages

Shares of WESCO International, Inc. (NYSE:WCC – Get Rating) have received an average recommendation of “Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $190.00.

A number of brokerages recently issued reports on WCC. Robert W. Baird upgraded shares of WESCO International from a “neutral” rating to an “outperform” rating and set a $180.00 price target on the stock in a research note on Friday, May 5th. StockNews.com initiated coverage on shares of WESCO International in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $215.00 target price on shares of WESCO International in a research report on Thursday, March 30th. Oppenheimer boosted their target price on WESCO International from $175.00 to $200.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 15th. Finally, KeyCorp boosted their target price on WESCO International from $165.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th.

WESCO International Stock Performance

NYSE:WCC opened at $133.61 on Friday. The stock has a market cap of $6.85 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 0.75 and a beta of 1.95. The firm’s fifty day simple moving average is $138.25 and its 200 day simple moving average is $139.11. WESCO International has a twelve month low of $99.00 and a twelve month high of $175.00. The company has a quick ratio of 1.33, a current ratio of 2.39 and a debt-to-equity ratio of 1.22.

WESCO International (NYSE:WCC – Get Rating) last announced its earnings results on Thursday, May 4th. The technology company reported $3.75 EPS for the quarter, beating analysts’ consensus estimates of $3.61 by $0.14. WESCO International had a net margin of 3.98% and a return on equity of 21.33%. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.45 billion. During the same quarter in the previous year, the business posted $3.63 EPS. The company’s quarterly revenue was up 12.0% on a year-over-year basis. As a group, research analysts predict that WESCO International will post 17.43 EPS for the current year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, March 14th. WESCO International’s payout ratio is currently 9.60%.

Insider Activity

In related news, EVP Nelson John Squires III sold 4,665 shares of the stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $170.25, for a total value of $794,216.25. Following the completion of the sale, the executive vice president now directly owns 73,198 shares of the company’s stock, valued at approximately $12,461,959.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO David S. Schulz sold 11,132 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $165.80, for a total value of $1,845,685.60. Following the completion of the sale, the chief financial officer now directly owns 114,865 shares of the company’s stock, valued at approximately $19,044,617. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nelson John Squires III sold 4,665 shares of the stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $170.25, for a total transaction of $794,216.25. Following the completion of the sale, the executive vice president now directly owns 73,198 shares of the company’s stock, valued at $12,461,959.50. The disclosure for this sale can be found here. Insiders sold 28,664 shares of company stock valued at $4,784,422 in the last quarter. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quent Capital LLC boosted its position in shares of WESCO International by 2.5% during the 4th quarter. Quent Capital LLC now owns 3,261 shares of the technology company’s stock valued at $408,000 after acquiring an additional 79 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of WESCO International by 5.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,497 shares of the technology company’s stock valued at $267,000 after acquiring an additional 122 shares during the last quarter. Fred Alger Management LLC boosted its position in shares of WESCO International by 37.0% during the 4th quarter. Fred Alger Management LLC now owns 685 shares of the technology company’s stock valued at $86,000 after acquiring an additional 185 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of WESCO International by 42.3% during the 1st quarter. Parallel Advisors LLC now owns 643 shares of the technology company’s stock valued at $99,000 after acquiring an additional 191 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of WESCO International during the 1st quarter valued at approximately $36,000. 94.02% of the stock is currently owned by institutional investors.

WESCO International Company Profile

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WESCO International, Inc is a holding company, which engages in the provision of electrical, industrial, communications maintenance, repair and operating, and original equipment manufacturer products. It also offers construction materials, and supply chain management and logistics services. Its product categories include general supplies, wire, cable and conduit, communications and security, electrical distribution and controls, lighting and sustainability, and automation, controls, and motors.