WESCO International (NYSE:WCC) Given New $223.00 Price Target at Robert W. Baird

WESCO International (NYSE:WCC) had its target price lifted by Robert W. Baird from $215.00 to $223.00 in a research note published on Friday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the technology company’s stock.

Other equities research analysts have also recently issued research reports about the company. Royal Bank of Canada upped their target price on WESCO International from $171.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Friday, September 27th. Stephens reiterated an “overweight” rating and issued a $190.00 target price on shares of WESCO International in a research note on Monday, August 5th. Loop Capital boosted their target price on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, KeyCorp cut 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. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, WESCO International has a consensus rating of “Buy” and a consensus price target of $206.71.

WESCO International Stock Performance

WCC stock opened at $184.61 on Friday. The firm has a 50 day moving average of $168.15 and a two-hundred day moving average of $167.66. WESCO International has a 12 month low of $132.37 and a 12 month high of $195.99. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 1.59 and a beta of 2.01. The company has a quick ratio of 1.34, a current ratio of 2.21 and a debt-to-equity ratio of 0.99.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping the consensus estimate of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the prior year, the business posted $4.49 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts anticipate that WESCO International will post 12.04 EPS for the current fiscal year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s dividend payout ratio is presently 13.21%.

Insider Activity

In other news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the transaction, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other WESCO International 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 transaction of $1,900,000.00. Following the sale, the executive vice president now owns 54,621 shares of the company’s stock, valued at $10,377,990. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of the 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 in the company, valued at $4,632,806.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. boosted its stake in WESCO International by 71.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of WESCO International in the 3rd quarter valued at about $28,000. GAMMA Investing LLC grew its holdings in shares of WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares in the last quarter. UMB Bank n.a. grew its stake in shares of WESCO International by 18.3% during the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after acquiring an additional 98 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in WESCO International in the second quarter valued at $152,000. 93.76% of the stock is currently owned by institutional investors.

WESCO International Company Profile

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).