WESCO International, Inc. (NYSE:WCC) Given Consensus Recommendation of “Buy” by Brokerages

WESCO International, Inc. (NYSE:WCC) has received an average recommendation of “Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $208.86.

Several equities analysts recently commented on the company. StockNews.com upgraded WESCO International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. Robert W. Baird increased their price target on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. KeyCorp boosted their price objective on WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their target price on shares of WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, Oppenheimer boosted their price target on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st.

WESCO International Stock Performance

Shares of WCC opened at $213.19 on Tuesday. WESCO International has a 52 week low of $132.37 and a 52 week high of $216.17. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. The stock has a 50 day moving average price of $182.85 and a two-hundred day moving average price of $172.43. The firm has a market capitalization of $10.45 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.72 and a beta of 2.01.

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. The firm had revenue of $5.49 billion for 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 company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.49 EPS. Equities analysts forecast that WESCO International will post 12.22 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid 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 dividend yield of 0.77%. WESCO International’s dividend payout ratio (DPR) is 13.21%.

Insider Buying and Selling at WESCO International

In other news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction dated 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 directly owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. This represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP William Clayton Geary sold 2,829 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $205.73, for a total value of $582,010.17. Following the completion of the sale, the executive vice president now directly owns 35,063 shares in the company, valued at $7,213,510.99. The trade was a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,586 shares of company stock worth $6,565,762 over the last three months. Company insiders own 3.10% of the company’s stock.

Institutional Trading of WESCO International

Large investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in WESCO International in the third quarter worth about $592,000. Geode Capital Management LLC grew its holdings in shares of WESCO International by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock worth $128,143,000 after acquiring an additional 22,080 shares during the period. MetLife Investment Management LLC raised its position in shares of WESCO International by 0.4% in the 3rd quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company’s stock worth $3,881,000 after acquiring an additional 85 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of WESCO International by 80.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 12,034 shares of the technology company’s stock valued at $2,021,000 after purchasing an additional 5,363 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of WESCO International during the third quarter valued at approximately $1,160,000. 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).