WESCO International (NYSE:WCC) Rating Increased to Outperform at Robert W. Baird

Robert W. Baird upgraded shares of WESCO International (NYSE:WCC) from a neutral rating to an outperform rating in a research note released on Wednesday morning, MarketBeat.com reports. They currently have $550.00 target price on the technology company’s stock, up from their previous target price of $522.00.

WCC has been the subject of a number of other research reports. Royal Bank of Canada boosted their price objective on WESCO International from $171.00 to $187.00 and gave the stock a “sector perform” rating in a report on Friday, September 27th. StockNews.com downgraded WESCO International from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Stephens reaffirmed an “overweight” rating and set a $190.00 price target on shares of WESCO International in a research report on Monday, August 5th. KeyCorp decreased their target price on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Loop Capital boosted their price target on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $243.86.

WESCO International Stock Performance

Shares of NYSE WCC opened at $180.02 on Wednesday. The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $9.15 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.45 and a beta of 2.03. WESCO International has a 12 month low of $122.30 and a 12 month high of $195.43. The stock has a 50 day moving average of $163.94 and a 200-day moving average of $166.68.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The company had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.55 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period last year, the firm earned $3.71 earnings per share. As a group, equities research analysts predict that WESCO International will post 12.14 EPS for the current year.

WESCO International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Insiders Place Their Bets

In related news, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Institutional Trading of WESCO International

Hedge funds have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of WESCO International by 71.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after purchasing an additional 69 shares during the last quarter. UMB Bank n.a. lifted its holdings in WESCO International by 18.3% in the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after buying an additional 98 shares during the period. GAMMA Investing LLC boosted its position in WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. Rise Advisors LLC acquired a new stake in WESCO International during the 1st quarter worth about $26,000. Finally, V Square Quantitative Management LLC bought a new position in shares of WESCO International in the 3rd quarter worth about $28,000. 93.76% of the stock is owned by institutional investors and hedge funds.

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).