WESCO International (NYSE:WCC) Trading Up 4.9% – What’s Next?

WESCO International, Inc. (NYSE:WCC)’s stock price rose 4.9% during mid-day trading on Tuesday . The stock traded as high as $195.99 and last traded at $194.47. Approximately 584,908 shares traded hands during trading, a decline of 4% from the average daily volume of 607,698 shares. The stock had previously closed at $185.30.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Oppenheimer upped their price objective on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird upped their price objective 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. Jefferies Financial Group increased their price objective on shares of WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. KeyCorp increased their price target on WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $215.88.

WESCO International Stock Performance

The firm has a market capitalization of $9.16 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.34 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. The company has a 50-day moving average price of $187.96 and a 200-day moving average price of $179.43.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.07). WESCO International had a net margin of 3.19% and a return on equity of 13.19%. As a group, equities research analysts forecast that WESCO International, Inc. will post 12.3 earnings per share for the current year.

WESCO International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 0.88%. The ex-dividend date was Friday, December 13th. WESCO International’s dividend payout ratio is currently 13.21%.

Institutional Investors Weigh In On WESCO International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in shares of WESCO International by 3.0% in the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock worth $128,143,000 after buying an additional 22,080 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of WESCO International by 2.5% during the fourth quarter. Bank of New York Mellon Corp now owns 403,216 shares of the technology company’s stock worth $72,966,000 after buying an additional 10,016 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of WESCO International by 341.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock worth $43,420,000 after buying an additional 199,975 shares during the last quarter. Davis Selected Advisers raised its stake in WESCO International by 0.4% during the 4th quarter. Davis Selected Advisers now owns 256,987 shares of the technology company’s stock valued at $46,504,000 after purchasing an additional 967 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. raised its position in shares of WESCO International by 0.4% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 195,731 shares of the technology company’s stock valued at $35,419,000 after buying an additional 752 shares during the last quarter. Hedge funds and other institutional investors own 93.76% of the company’s stock.

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).