WESCO International (NYSE:WCC) Shares Gap Down to $172.69

Shares of WESCO International, Inc. (NYSE:WCC) gapped down prior to trading on Friday . The stock had previously closed at $172.69, but opened at $168.12. WESCO International shares last traded at $167.79, with a volume of 44,013 shares changing hands.

Analysts Set New Price Targets

A number of research firms have weighed in on WCC. Royal Bank of Canada decreased their target price on shares of WESCO International from $175.00 to $171.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Robert W. Baird dropped their target price on shares of WESCO International from $195.00 to $172.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. KeyCorp lowered their price objective on WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Loop Capital cut their target price on WESCO International from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $184.71.

WESCO International Stock Performance

The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.35 and a beta of 2.03. The company has a 50 day moving average price of $162.31 and a 200 day moving average price of $165.82. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28.

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 the consensus estimate of $3.48 by ($0.27). WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.55 billion. During the same quarter in the prior year, the firm earned $3.71 EPS. The company’s revenue was down 4.6% compared to the same quarter last year. Equities research analysts predict that WESCO International, Inc. will post 12.17 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is 13.74%.

Institutional Investors Weigh In On WESCO International

Institutional investors and hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. increased its holdings in WESCO International by 23,727.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after purchasing an additional 1,582,379 shares in the last quarter. Lyrical Asset Management LP raised its position in WESCO International by 2,583.9% in the 4th quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock valued at $133,040,000 after buying an additional 736,616 shares during the last quarter. Clearbridge Investments LLC bought a new position in WESCO International during the 2nd quarter valued at $52,782,000. Neo Ivy Capital Management purchased a new position in WESCO International during the 2nd quarter worth $5,916,000. Finally, Russell Investments Group Ltd. grew its stake in shares of WESCO International by 74.8% in the 1st quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock worth $12,486,000 after acquiring an additional 31,200 shares in the last quarter. Institutional investors and hedge funds 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).