WESCO International (NYSE:WCC) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of WESCO International (NYSE:WCC) from a hold rating to a buy rating in a report issued on Friday.

Several other analysts have also issued reports on WCC. Oppenheimer boosted their price target on shares of WESCO International from $190.00 to $200.00 and gave the company an outperform rating in a research report on Friday. KeyCorp increased their target price on WESCO International from $190.00 to $205.00 and gave the stock an overweight rating in a research report on Friday. JPMorgan Chase & Co. cut their price target on WESCO International from $180.00 to $175.00 and set an overweight rating for the company in a report on Friday, March 15th. Royal Bank of Canada decreased 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. Finally, Robert W. Baird cut their target price on WESCO International from $203.00 to $170.00 and set an outperform rating for the company in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $188.67.

WESCO International Stock Performance

NYSE WCC traded up $2.62 on Friday, hitting $167.70. 754,885 shares of the stock traded hands, compared to its average volume of 656,150. 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 business’s fifty day moving average is $161.27 and its two-hundred day moving average is $159.76. WESCO International has a 12 month low of $121.90 and a 12 month high of $195.43. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.17 and a beta of 2.07.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the previous year, the company posted $3.75 EPS. The firm’s revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts anticipate that WESCO International will post 14.14 EPS for the current fiscal year.

WESCO International Increases Dividend

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

Insiders Place Their Bets

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

Hedge Funds Weigh In On WESCO International

Institutional investors have recently modified their holdings of the company. Rise Advisors LLC bought a new position in shares of WESCO International during the 1st quarter valued at $26,000. KB Financial Partners LLC increased its holdings in shares of WESCO International by 76.8% in the third quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after buying an additional 86 shares during the period. Anchor Investment Management LLC bought a new stake in shares of WESCO International in the 4th quarter valued at about $48,000. GAMMA Investing LLC purchased a new stake in WESCO International during the 4th quarter valued at about $56,000. Finally, Richelieu Gestion SA bought a new position in WESCO International during the 4th quarter worth approximately $122,000. 93.76% of the stock is currently owned by institutional investors.

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).