WESCO International (NYSE:WCC) Upgraded at StockNews.com

StockNews.com upgraded shares of WESCO International (NYSE:WCCFree Report) from a hold rating to a buy rating in a report released on Friday morning.

WCC has been the topic of a number of other reports. Loop Capital increased their price target on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Baird R W raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Royal Bank of Canada increased their price target on shares of WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a report on Friday, November 1st. Stephens increased their price target on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Oppenheimer increased their price objective on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $215.88.

Read Our Latest Stock Report on WCC

WESCO International Stock Performance

WESCO International stock opened at $191.73 on Friday. The company’s 50-day moving average price is $194.08 and its 200-day moving average price is $176.98. WESCO International has a twelve month low of $132.37 and a twelve month high of $216.17. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The company has a market cap of $9.39 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02.

WESCO International (NYSE:WCCGet Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.49 EPS. On average, equities research analysts forecast that WESCO International will post 12.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.4125 per share. The ex-dividend date was Friday, December 13th. This represents a $1.65 annualized dividend and a dividend yield of 0.86%. WESCO International’s dividend payout ratio is presently 13.21%.

Insider Activity at WESCO International

In related news, EVP Nelson John Squires III sold 10,000 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the sale, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. This represents a 15.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP William Clayton Geary sold 2,829 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $205.73, for a total transaction of $582,010.17. Following the sale, the executive vice president now directly owns 35,063 shares in the company, valued at $7,213,510.99. This represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,767 shares of company stock worth $5,567,454 in the last 90 days. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. grew its position in shares of WESCO International by 23,727.4% during the second quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after buying an additional 1,582,379 shares in the last quarter. Clearbridge Investments LLC bought a new stake in WESCO International in the second quarter worth about $52,782,000. Thompson Siegel & Walmsley LLC raised its position in WESCO International by 341.8% in the third quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock worth $43,420,000 after acquiring an additional 199,975 shares in the last quarter. Geode Capital Management LLC raised its position in WESCO International by 3.0% in the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock worth $128,143,000 after acquiring an additional 22,080 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in WESCO International by 142.8% in the third quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock worth $5,050,000 after acquiring an additional 17,682 shares in the last quarter. Hedge funds and other institutional investors own 93.76% of the company’s stock.

WESCO International Company Profile

(Get Free Report)

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).

Further Reading

Analyst Recommendations for WESCO International (NYSE:WCC)

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