WESCO International (NYSE:WCC) Stock Price Expected to Rise, Stephens Analyst Says

WESCO International (NYSE:WCC) had its price objective boosted by Stephens from $190.00 to $205.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

WCC has been the topic of a number of other research reports. Loop Capital raised their price objective on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada raised their price objective on WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. StockNews.com raised WESCO International from a “hold” rating to a “buy” rating in a research report on Monday. KeyCorp increased their price target on WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Oppenheimer increased their price target on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, WESCO International presently has an average rating of “Buy” and a consensus price target of $208.86.

WESCO International Price Performance

WCC opened at $207.78 on Tuesday. WESCO International has a 12-month low of $132.37 and a 12-month high of $213.41. The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99. The business’s fifty day simple moving average is $170.90 and its 200-day simple moving average is $168.71. The company has a market capitalization of $10.18 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.74 and a beta of 2.01.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share 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 company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter last year, the company earned $4.49 earnings per share. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that WESCO International will post 12.18 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.4125 dividend. This represents a $1.65 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s payout ratio is 13.21%.

Insider Transactions at WESCO International

In other news, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the transaction, the director now directly owns 27,004 shares in the company, valued at $4,632,806.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Nelson John Squires III sold 10,000 shares of WESCO International stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the completion of the transaction, the executive vice president now directly owns 54,621 shares in the company, valued at approximately $10,377,990. 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 this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction that occurred on Thursday, September 26th. The shares were 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 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 disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WCC. Whittier Trust Co. of Nevada Inc. raised its position in WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after acquiring an additional 69 shares in the last quarter. V Square Quantitative Management LLC purchased a new position in WESCO International during the third quarter valued at approximately $28,000. GAMMA Investing LLC raised its position in WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares in the last quarter. UMB Bank n.a. grew its holdings in WESCO International by 18.3% in the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after purchasing an additional 98 shares during the period. Finally, Innealta Capital LLC acquired a new stake in WESCO International in the second quarter valued at approximately $152,000. 93.76% of the stock is currently owned by hedge funds and other 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).