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 research report sent to investors on Monday.

Several other equities research analysts have also commented on WCC. KeyCorp upped their price target on shares of WESCO International from $190.00 to $205.00 and gave the company an overweight rating in a report on Friday, May 3rd. Royal Bank of Canada reissued a sector perform rating and issued a $172.00 price target on shares of WESCO International in a report on Thursday, June 20th. JPMorgan Chase & Co. lowered their price objective on WESCO International from $180.00 to $175.00 and set an overweight rating on the stock in a research report on Friday, March 15th. Baird R W lowered shares of WESCO International from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. Finally, Loop Capital lifted their target price on shares of WESCO International from $190.00 to $200.00 and gave the company a buy rating in a research report on Monday, May 6th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $191.17.

WESCO International Trading Down 0.2 %

NYSE:WCC opened at $163.79 on Monday. The firm has a 50-day simple moving average of $171.62 and a 200-day simple moving average of $168.68. WESCO International has a one year low of $122.30 and a one year high of $195.43. The firm has a market cap of $8.33 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.17 and a beta of 2.06. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 2.21.

WESCO International (NYSE:WCC) last posted its 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 analysts’ expectations of $5.30 billion. During the same period in the previous year, the company earned $3.75 EPS. The company’s revenue was down 3.1% on a year-over-year basis. Equities analysts anticipate that WESCO International will post 14.07 EPS for the current fiscal year.

WESCO International Dividend Announcement

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

Insider Buying and Selling at WESCO International

In other news, CAO Matthew S. Kulasa sold 474 shares of WESCO International stock in a transaction on Friday, May 24th. The stock was sold at an average price of $191.69, for a total value of $90,861.06. Following the completion of the sale, the chief accounting officer now directly owns 3,555 shares of the company’s stock, valued at $681,457.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other WESCO International news, CAO Matthew S. Kulasa sold 474 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $191.69, for a total value of $90,861.06. Following the completion of the transaction, the chief accounting officer now owns 3,555 shares in the company, valued at $681,457.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christine Ann Wolf sold 4,486 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $190.13, for a total value of $852,923.18. Following the completion of the sale, 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. Insiders have sold 1,754,960 shares of company stock valued at $303,728,784 over the last 90 days. 3.10% of the stock is owned by insiders.

Institutional Investors Weigh In On WESCO International

Several institutional investors have recently added to or reduced their stakes in the business. AEGON ASSET MANAGEMENT UK Plc purchased a new position in WESCO International during the 4th quarter worth approximately $2,256,000. Brevan Howard Capital Management LP purchased a new stake in shares of WESCO International in the fourth quarter valued at about $1,342,000. KB Financial Partners LLC boosted its stake in shares of 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 buying an additional 86 shares during the period. Lazard Asset Management LLC grew its holdings in shares of WESCO International by 51.8% during the third quarter. Lazard Asset Management LLC now owns 2,500 shares of the technology company’s stock worth $359,000 after buying an additional 853 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. increased its position in WESCO International by 6.3% in the 3rd quarter. Van Lanschot Kempen Investment Management N.V. now owns 7,350 shares of the technology company’s stock valued at $1,057,000 after acquiring an additional 433 shares during the period. Hedge funds and other 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).