WESCO International (NYSE:WCC) Reaches New 1-Year High – Time to Buy?

WESCO International, Inc. (NYSE:WCC)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $213.90 and last traded at $213.29, with a volume of 7927 shares changing hands. The stock had previously closed at $209.86.

Analyst Ratings Changes

WCC has been the topic of several recent 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 research report on Friday, September 27th. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Robert W. Baird increased their target price on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. KeyCorp increased their price objective on WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $208.86.

WESCO International Price Performance

The stock has a fifty day moving average of $182.85 and a 200-day moving average of $172.43. The firm has a market capitalization of $10.34 billion, a P/E ratio of 16.89, a PEG ratio of 1.74 and a beta of 2.01. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. The company had revenue of $5.49 billion for 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%. WESCO International’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $4.49 earnings per share. Equities analysts predict that WESCO International, Inc. will post 12.24 EPS for the current fiscal year.

WESCO International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.4125 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.65 annualized dividend and a dividend yield of 0.78%. WESCO International’s dividend payout ratio (DPR) is currently 13.21%.

Insider Activity

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was 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. The trade was a 17.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David S. Schulz sold 14,938 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the completion of the transaction, the chief financial officer now directly owns 104,471 shares in the company, valued at $21,578,485.05. This trade represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,586 shares of company stock valued at $6,565,762 over the last 90 days. 3.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Quent Capital LLC lifted its stake in WESCO International by 9.9% in the first quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock valued at $634,000 after buying an additional 333 shares during the period. Redwood Investment Management LLC bought a new stake in shares of WESCO International in the first quarter worth $639,000. GAMMA Investing LLC boosted its stake in shares of WESCO International by 65.4% during the 2nd 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 last quarter. Harbor Capital Advisors Inc. grew its holdings in shares of WESCO International by 860.5% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 12,381 shares of the technology company’s stock valued at $1,963,000 after acquiring an additional 11,092 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of WESCO International in the second quarter valued at about $1,350,000. Institutional investors and hedge funds 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).