WESCO International (NYSE:WCC) Price Target Increased to $200.00 by Analysts at Oppenheimer

WESCO International (NYSE:WCC) had its target price upped by Oppenheimer from $190.00 to $200.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

WCC has been the topic of a number of other reports. KeyCorp raised their price target on WESCO International from $165.00 to $190.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Royal Bank of Canada lowered WESCO International from an outperform rating to a sector perform rating and cut their target price for the stock from $202.00 to $173.00 in a research report on Tuesday, February 13th. Robert W. Baird lowered their price target on WESCO International from $203.00 to $170.00 and set an outperform rating for the company in a report on Wednesday, February 14th. JPMorgan Chase & Co. cut their price objective on shares of WESCO International from $180.00 to $175.00 and set an overweight rating on the stock in a report on Friday, March 15th. Finally, StockNews.com cut shares of WESCO International from a buy rating to a hold rating in a report on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, WESCO International currently has a consensus rating of Moderate Buy and a consensus price target of $188.67.

WESCO International Stock Performance

Shares of WCC opened at $167.70 on Friday. WESCO International has a 1 year low of $121.90 and a 1 year high of $195.43. The stock has a market capitalization of $8.54 billion, a PE ratio of 13.96, a PEG ratio of 1.19 and a beta of 2.07. 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 simple moving average of $161.27 and a 200-day simple moving average of $159.91.

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

WESCO International Increases Dividend

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

Insider Activity

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of WCC. Lyrical Asset Management LP boosted its position in shares of WESCO International by 2,583.9% during the 4th quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock worth $133,040,000 after purchasing an additional 736,616 shares in the last quarter. River Road Asset Management LLC acquired a new stake in shares of WESCO International in the fourth quarter valued at about $79,404,000. Bank of New York Mellon Corp boosted its holdings in WESCO International by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 417,250 shares of the technology company’s stock worth $60,009,000 after buying an additional 4,187 shares in the last quarter. Farmers & Merchants Investments Inc. grew its position in WESCO International by 0.4% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 190,759 shares of the technology company’s stock worth $33,169,000 after buying an additional 790 shares during the period. Finally, J. L. Bainbridge & Co. Inc. increased its holdings in WESCO International by 4.5% in the third quarter. J. L. Bainbridge & Co. Inc. now owns 164,213 shares of the technology company’s stock valued at $23,617,000 after buying an additional 7,048 shares in the last quarter. Institutional investors and hedge funds 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).