WESCO International (NYSE:WCC) Given New $225.00 Price Target at Oppenheimer

WESCO International (NYSE:WCC) had its target price hoisted by Oppenheimer from $205.00 to $225.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Several other research analysts have also commented on the stock. 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 research note on Friday. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Royal Bank of Canada raised their price objective on WESCO International from $171.00 to $187.00 and gave the stock a “sector perform” rating in a report on Friday, September 27th. Stephens reaffirmed an “overweight” rating and issued a $190.00 target price on shares of WESCO International in a report on Monday, August 5th. Finally, KeyCorp upped 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. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.71.

WESCO International Price Performance

WCC traded down $3.80 during midday trading on Friday, hitting $188.17. 927,268 shares of the company traded hands, compared to its average volume of 736,339. The company has a market capitalization of $9.25 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.59 and a beta of 2.01. The business has a 50 day simple moving average of $168.15 and a two-hundred day simple moving average of $167.47. The company has a current ratio of 2.21, a quick ratio of 1.34 and a debt-to-equity ratio of 0.99. WESCO International has a 52-week low of $131.38 and a 52-week high of $195.99.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the business earned $4.49 earnings per share. The business’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts forecast that WESCO International will post 12.04 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.4125 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.88%. WESCO International’s payout ratio is currently 13.21%.

Insider Buying and Selling

In related 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 value of $998,307.64. Following the completion of the sale, the director now owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other WESCO International 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 sale, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the sale, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Institutional Trading of WESCO International

Several large investors have recently modified their holdings of the company. Pacer Advisors Inc. lifted its stake in shares of WESCO International by 23,727.4% in the second quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock valued at $251,896,000 after buying an additional 1,582,379 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of WESCO International by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 413,156 shares of the technology company’s stock valued at $65,494,000 after acquiring an additional 8,641 shares during the period. Clearbridge Investments LLC acquired a new stake in shares of WESCO International during the 2nd quarter worth approximately $52,782,000. Farmers & Merchants Investments Inc. grew its holdings in WESCO International by 1.5% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company’s stock worth $32,753,000 after acquiring an additional 2,923 shares during the period. Finally, Davis Selected Advisers increased its holdings in WESCO International by 1.5% in the second quarter. Davis Selected Advisers now owns 193,646 shares of the technology company’s stock valued at $30,697,000 after purchasing an additional 2,824 shares during the last quarter. 93.76% of the stock is owned by institutional investors.

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).