WESCO International, Inc. (NYSE:WCC) Receives Average Rating of “Buy” from Analysts

Shares of WESCO International, Inc. (NYSE:WCC) have been assigned an average rating of “Buy” from the eight brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $208.86.

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of WESCO International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Royal Bank of Canada boosted their target price on WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Stephens increased their price target on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Loop Capital boosted their price objective on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Baird R W raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th.

WESCO International Stock Up 0.2 %

Shares of NYSE:WCC opened at $212.06 on Tuesday. WESCO International has a 1 year low of $132.37 and a 1 year high of $216.17. The company has a market capitalization of $10.39 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 1.73 and a beta of 2.01. The business has a fifty day moving average price of $186.13 and a two-hundred day moving average price of $173.27. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.36. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.49 earnings per share. Analysts forecast that WESCO International will post 12.24 earnings per share for the current year.

WESCO International Dividend Announcement

The business also recently announced 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. This represents a $1.65 dividend on an annualized basis and a yield of 0.78%. WESCO International’s payout ratio is presently 13.21%.

Insider Transactions at WESCO International

In related news, CFO David S. Schulz sold 14,938 shares of WESCO International stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the completion of the sale, the chief financial officer now owns 104,471 shares of the company’s stock, valued at approximately $21,578,485.05. This trade represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP William Clayton Geary sold 2,829 shares of the firm’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 sale, the executive vice president now directly owns 35,063 shares in the company, valued at approximately $7,213,510.99. The trade was a 7.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,586 shares of company stock valued at $6,565,762. 3.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WESCO International

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its position in 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 worth $251,896,000 after acquiring an additional 1,582,379 shares in the last quarter. Geode Capital Management LLC lifted its stake in WESCO International by 3.0% during the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock worth $128,143,000 after purchasing an additional 22,080 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of WESCO International by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 413,156 shares of the technology company’s stock worth $65,494,000 after purchasing an additional 8,641 shares in the last quarter. Clearbridge Investments LLC bought a new position in shares of WESCO International during the 2nd quarter valued at about $52,782,000. Finally, Thompson Siegel & Walmsley LLC raised its holdings in shares of WESCO International by 341.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock valued at $43,420,000 after buying an additional 199,975 shares in 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).