WESCO International (NYSE:WCC) Upgraded at StockNews.com

StockNews.com upgraded shares of WESCO International (NYSE:WCC) from a hold rating to a buy rating in a report published on Monday.

WCC has been the subject of a number of other research reports. Stephens reissued an “overweight” rating and set a $190.00 price objective on shares of WESCO International in a research report on Monday, August 5th. Baird R W upgraded shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. KeyCorp lifted their target price on WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Oppenheimer boosted their target price on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Robert W. Baird increased their target price on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $208.86.

WESCO International Trading Up 13.2 %

WCC opened at $212.61 on Monday. The business has a 50 day moving average of $169.02 and a 200-day moving average of $168.12. The stock has a market cap of $10.45 billion, a PE ratio of 17.02, a PEG ratio of 1.52 and a beta of 2.01. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. WESCO International has a 52 week low of $132.37 and a 52 week high of $213.29.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.49 earnings per share. Equities research analysts predict that WESCO International will post 12.18 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.4125 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.78%. WESCO International’s payout ratio is 13.21%.

Insider Activity

In related news, 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 completion of the transaction, the director now owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Nelson John Squires III sold 10,000 shares of WESCO International stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the transaction, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at $10,377,990. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the transaction, the director now 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 disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WESCO International

Hedge funds have recently added to or reduced their stakes in the business. AEGON ASSET MANAGEMENT UK Plc increased its stake in WESCO International by 0.5% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 186,081 shares of the technology company’s stock valued at $31,258,000 after purchasing an additional 983 shares during the last quarter. Innealta Capital LLC boosted its holdings in WESCO International by 68.0% in the 3rd quarter. Innealta Capital LLC now owns 1,606 shares of the technology company’s stock worth $270,000 after acquiring an additional 650 shares during the period. Van ECK Associates Corp increased its stake in shares of WESCO International by 128.3% in the third quarter. Van ECK Associates Corp now owns 29,666 shares of the technology company’s stock worth $5,182,000 after buying an additional 16,673 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in WESCO International by 142.8% during the third quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock valued at $5,050,000 after buying an additional 17,682 shares in the last quarter. Finally, EMC Capital Management increased its position in WESCO International by 580.8% in the third quarter. EMC Capital Management now owns 16,094 shares of the technology company’s stock worth $2,703,000 after buying an additional 13,730 shares during the period. 93.76% of the stock is currently owned by hedge funds and other 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).