WESCO International (NYSE:WCC) Stock Price Up 5.6%

WESCO International, Inc. (NYSE:WCC) shares were up 5.6% during mid-day trading on Friday . The stock traded as high as $174.90 and last traded at $174.75. Approximately 370,781 shares traded hands during trading, a decline of 46% from the average daily volume of 687,102 shares. The stock had previously closed at $165.48.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WCC shares. JPMorgan Chase & Co. dropped their price target on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. Robert W. Baird reaffirmed a “neutral” rating and issued a $195.00 target price (down from $200.00) on shares of WESCO International in a research report on Wednesday, May 29th. StockNews.com lowered WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. KeyCorp upped their price objective on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $172.00 price target on shares of WESCO International in a research note on Thursday, June 20th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.17.

WESCO International Trading Up 2.9 %

The company has a fifty day simple moving average of $172.07 and a two-hundred day simple moving average of $167.48. The company has a quick ratio of 1.33, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $8.65 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 1.13 and a beta of 2.06.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.13). The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.30 billion. WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The business’s revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.75 EPS. On average, sell-side analysts expect that WESCO International, Inc. will post 14.07 earnings per share for the current year.

WESCO International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, June 14th. WESCO International’s dividend payout ratio (DPR) is 13.74%.

Insider Transactions at WESCO International

In other news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total value of $302,785,000.00. Following the transaction, the insider now owns 2,134,683 shares in the company, valued at approximately $369,342,852.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total value of $302,785,000.00. Following the transaction, the insider now owns 2,134,683 shares of the company’s stock, valued at $369,342,852.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew S. Kulasa sold 474 shares of the company’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $191.69, for a total transaction of $90,861.06. Following the sale, the chief accounting officer now owns 3,555 shares of the company’s stock, valued at $681,457.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,754,960 shares of company stock valued at $303,728,784. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Anchor Investment Management LLC purchased a new position in shares of WESCO International during the 4th quarter worth about $48,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of WESCO International during the 4th quarter worth approximately $2,256,000. Richelieu Gestion SA acquired a new position in WESCO International during the 4th quarter valued at approximately $122,000. Farmers & Merchants Investments Inc. increased its stake in WESCO International by 0.4% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 190,759 shares of the technology company’s stock valued at $33,169,000 after purchasing an additional 790 shares in the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of WESCO International by 30.7% in the fourth quarter. New York State Teachers Retirement System now owns 26,278 shares of the technology company’s stock worth $4,569,000 after acquiring an additional 6,170 shares during the period. 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).