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

WESCO International, Inc. (NYSE:WCC) has earned a consensus rating of “Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $215.88.

A number of brokerages have weighed in on WCC. KeyCorp raised their target price on shares of WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Jefferies Financial Group boosted their price objective on WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Oppenheimer increased their target price on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Stephens boosted their price target on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird raised their price objective on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, November 1st.

Insider Transactions at WESCO International

In other news, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction dated 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 trade represents a 17.73 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP William Clayton Geary sold 2,829 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total value of $582,010.17. Following the completion of the transaction, the executive vice president now directly owns 35,063 shares in the company, valued at $7,213,510.99. This represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,586 shares of company stock worth $6,565,762. Company insiders own 3.10% of the company’s stock.

Institutional Trading of WESCO International

Large investors have recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. boosted its stake in WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after acquiring an additional 69 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of WESCO International during the third quarter valued at about $28,000. UMB Bank n.a. boosted its position 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 purchasing an additional 98 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of WESCO International in the 2nd quarter valued at about $152,000. Finally, Highland Capital Management LLC bought a new stake in WESCO International in the 3rd quarter valued at about $221,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

WESCO International Price Performance

WESCO International stock opened at $178.09 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. WESCO International has a 52 week low of $132.37 and a 52 week high of $216.17. The stock has a market capitalization of $8.73 billion, a P/E ratio of 14.26, a price-to-earnings-growth ratio of 1.55 and a beta of 2.01. The stock has a fifty day moving average of $194.55 and a 200-day moving average of $174.58.

WESCO International (NYSE:WCC) last issued 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 return on equity of 13.19% and a net margin of 3.19%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the firm earned $4.49 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts expect that WESCO International will post 12.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.4125 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.65 annualized dividend and a yield of 0.93%. WESCO International’s payout ratio is 13.21%.

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).