WESCO International (NYSE:WCC) Given “Sector Perform” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of WESCO International (NYSE:WCC) in a report issued on Thursday, Benzinga reports. The brokerage currently has a $172.00 price target on the technology company’s stock.

Other equities analysts have also issued reports about the company. Loop Capital increased their price target on WESCO International from $190.00 to $200.00 and gave the company a buy rating in a research note on Monday, May 6th. StockNews.com lowered WESCO International from a buy rating to a hold rating in a research note on Saturday, June 8th. Oppenheimer raised their price objective on WESCO International from $190.00 to $200.00 and gave the company an outperform rating in a research note on Friday, May 3rd. Baird R W lowered WESCO International from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. Finally, JPMorgan Chase & Co. lowered their price objective on WESCO International from $180.00 to $175.00 and set an overweight rating for the company in a research note on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, WESCO International presently has a consensus rating of Moderate Buy and an average price target of $191.17.

WESCO International Price Performance

Shares of WESCO International stock opened at $164.04 on Thursday. The stock has a 50 day moving average of $171.49 and a 200 day moving average of $168.49. WESCO International has a 12 month low of $122.30 and a 12 month high of $195.43. The firm has a market cap of $8.34 billion, a PE ratio of 13.66, a PEG ratio of 1.16 and a beta of 2.06. The company has a current ratio of 2.21, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.30 billion. During the same period in the previous year, the company posted $3.75 earnings per share. WESCO International’s quarterly revenue was down 3.1% on a year-over-year basis. On average, research analysts expect that WESCO International will post 14.07 EPS for the current fiscal year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.4125 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.65 annualized dividend and a dividend yield of 1.01%. WESCO International’s payout ratio is 13.74%.

Insider Transactions at WESCO International

In other news, EVP Christine Ann Wolf sold 4,486 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $190.13, for a total value of $852,923.18. Following the sale, the executive vice president now directly owns 30,304 shares in the company, valued at $5,761,699.52. The sale was disclosed in a document filed with the SEC, which is available at this link. In other WESCO International news, CAO Matthew S. Kulasa sold 474 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $191.69, for a total transaction of $90,861.06. Following the transaction, the chief accounting officer now directly owns 3,555 shares in the company, valued at approximately $681,457.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christine Ann Wolf sold 4,486 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $190.13, for a total value of $852,923.18. Following the transaction, the executive vice president now owns 30,304 shares in the company, valued at $5,761,699.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,754,960 shares of company stock worth $303,728,784. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WCC. Van Lanschot Kempen Investment Management N.V. increased its holdings in WESCO International by 6.3% during the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 7,350 shares of the technology company’s stock worth $1,057,000 after purchasing an additional 433 shares during the period. Lazard Asset Management LLC increased its holdings in shares of WESCO International by 51.8% in the 3rd quarter. Lazard Asset Management LLC now owns 2,500 shares of the technology company’s stock valued at $359,000 after acquiring an additional 853 shares during the period. KB Financial Partners LLC increased its holdings in shares of WESCO International by 76.8% in the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock valued at $28,000 after acquiring an additional 86 shares during the period. iA Global Asset Management Inc. purchased a new position in shares of WESCO International in the 3rd quarter valued at $164,000. Finally, Anchor Investment Management LLC purchased a new position in shares of WESCO International in the 4th quarter valued at $48,000. 93.76% of the stock is currently owned by hedge funds and other 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).