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 report published on Friday.

A number of other brokerages also recently weighed in on WCC. KeyCorp raised their target price on WESCO International from $190.00 to $205.00 and gave the company an overweight rating in a report on Friday. Royal Bank of Canada reduced their price objective on WESCO International from $176.00 to $172.00 and set a sector perform rating on the stock in a research note on Friday. Robert W. Baird decreased their target price on WESCO International from $203.00 to $170.00 and set an outperform rating on the stock in a research report on Wednesday, February 14th. Oppenheimer increased their target price on shares of WESCO International from $190.00 to $200.00 and gave the stock an outperform rating in a report on Friday. Finally, JPMorgan Chase & Co. decreased their price target 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. One research analyst has rated the stock with a hold rating and five have assigned 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 Trading Up 1.6 %

WCC opened at $167.70 on Friday. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.19 and a beta of 2.07. The company has a quick ratio of 1.42, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. WESCO International has a twelve month low of $121.90 and a twelve month high of $195.43. The company 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 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 the consensus estimate of $5.30 billion. WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The business’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the company posted $3.75 EPS. Analysts predict that WESCO International will post 14.12 EPS for the current fiscal year.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.4125 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.65 annualized dividend 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 currently 13.74%.

Insider Activity at WESCO International

In other news, EVP James Cameron sold 5,352 shares of WESCO International 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 transaction, the executive vice president now owns 33,595 shares in the company, valued at $5,253,922.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP James Cameron sold 5,352 shares of WESCO International 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 transaction, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nelson John Squires III sold 3,490 shares of the firm’s stock in a transaction that occurred on 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 approximately $10,333,150. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Institutional Trading of WESCO International

A number of institutional investors have recently bought and sold shares of the company. Rise Advisors LLC bought a new position in shares of WESCO International in the 1st quarter worth about $26,000. KB Financial Partners LLC grew its stake in WESCO International by 76.8% during the third quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after purchasing an additional 86 shares during the period. Anchor Investment Management LLC bought a new stake in WESCO International in the fourth quarter worth approximately $48,000. GAMMA Investing LLC acquired a new position in WESCO International in the fourth quarter valued at approximately $56,000. Finally, Richelieu Gestion SA bought a new position in shares of WESCO International during the 4th quarter worth approximately $122,000. 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).