KeyCorp Raises WESCO International (NYSE:WCC) Price Target to $205.00

WESCO International (NYSE:WCC) had its target price raised by KeyCorp from $190.00 to $205.00 in a research report released on Friday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. StockNews.com downgraded shares of WESCO International from a buy rating to a hold rating in a report on Wednesday, February 14th. Oppenheimer upped their price target on shares of WESCO International from $190.00 to $200.00 and gave the company an outperform rating in a report on Friday. JPMorgan Chase & Co. reduced their price objective on WESCO International from $180.00 to $175.00 and set an overweight rating for the company in a research note on Friday, March 15th. Robert W. Baird decreased their price objective on WESCO International from $203.00 to $170.00 and set an outperform rating for the company in a report on Wednesday, February 14th. Finally, Royal Bank of Canada dropped their target price on WESCO International from $176.00 to $172.00 and set a sector perform rating on the stock in a report on Friday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, WESCO International currently has an average rating of Moderate Buy and an average price target of $188.67.

WESCO International Stock Performance

Shares of WCC opened at $167.70 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.42 and a current ratio of 2.21. The stock has a 50-day moving average of $161.27 and a two-hundred day moving average of $159.91. The stock has a market cap of $8.54 billion, a P/E ratio of 13.96, a P/E/G ratio of 1.19 and a beta of 2.07. WESCO International has a one year low of $121.90 and a one year high of $195.43.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The firm had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.30 billion. WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the firm earned $3.75 EPS. As a group, research analysts predict that WESCO International will post 14.12 EPS for the current year.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a $0.4125 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.98%. This is an increase from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s dividend payout ratio is 13.74%.

Insider Activity

In other WESCO International news, EVP James Cameron sold 5,352 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following the sale, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other WESCO International news, EVP James Cameron sold 5,352 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the completion of the transaction, the executive vice president now directly owns 33,595 shares in the company, valued at $5,253,922.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction of $663,100.00. Following the transaction, the executive vice president now directly owns 54,385 shares in the company, valued at $10,333,150. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Large investors have recently bought and sold shares of the company. Rise Advisors LLC purchased a new position in shares of WESCO International in the first quarter valued at approximately $26,000. KB Financial Partners LLC raised its stake in WESCO International by 76.8% in the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock valued at $28,000 after purchasing an additional 86 shares during the last quarter. Anchor Investment Management LLC purchased a new position in WESCO International in the 4th quarter valued at $48,000. GAMMA Investing LLC acquired a new stake in WESCO International during the 4th quarter worth $56,000. Finally, Richelieu Gestion SA purchased a new stake in shares of WESCO International during the fourth quarter worth $122,000. 93.76% of the stock is currently 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).