WESCO International (NYSE:WCC) Lifted to “Strong-Buy” at Baird R W

Baird R W upgraded shares of WESCO International (NYSE:WCC) from a hold rating to a strong-buy rating in a report issued on Wednesday morning, Zacks.com reports.

WCC has been the topic of several other research reports. Loop Capital lifted their target price on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 27th. Robert W. Baird upgraded WESCO International from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $522.00 to $550.00 in a research report on Wednesday. StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Stephens reaffirmed an “overweight” rating and set a $190.00 price objective on shares of WESCO International in a report on Monday, August 5th. Finally, Royal Bank of Canada raised their target price on WESCO International from $171.00 to $187.00 and gave the company a “sector perform” rating in a report on Friday, September 27th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, WESCO International has a consensus rating of “Moderate Buy” and a consensus target price of $243.86.

WESCO International Stock Up 4.1 %

WESCO International stock opened at $179.54 on Wednesday. The stock has a 50 day moving average of $162.95 and a two-hundred day moving average of $166.58. WESCO International has a twelve month low of $122.30 and a twelve month high of $195.43. The stock has a market capitalization of $8.83 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.45 and a beta of 2.03. The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 1.07.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.27). WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the prior year, the business earned $3.71 earnings per share. WESCO International’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, research analysts expect that WESCO International will post 12.14 earnings per share for the current year.

WESCO International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.4125 dividend. This represents a $1.65 annualized dividend and a yield of 0.92%. The ex-dividend date was Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is 12.81%.

Insiders Place Their Bets

In related news, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the transaction, the director now owns 27,004 shares in the company, valued at approximately $4,632,806.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WESCO International

Several hedge funds and other institutional investors have recently modified their holdings of WCC. Whittier Trust Co. of Nevada Inc. increased its position in WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. UMB Bank n.a. lifted its position in WESCO International by 18.3% during the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after buying an additional 98 shares in the last quarter. GAMMA Investing LLC grew its stake in WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares during the period. Rise Advisors LLC acquired a new stake in shares of WESCO International in the first quarter worth $26,000. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of WESCO International by 0.3% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 58,511 shares of the technology company’s stock valued at $9,275,000 after acquiring an additional 173 shares in the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.

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).