WESCO International (NYSE:WCC) Share Price Passes Above 200 Day Moving Average – Time to Sell?

WESCO International, Inc. (NYSE:WCC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $175.42 and traded as high as $185.55. WESCO International shares last traded at $184.12, with a volume of 534,736 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WCC shares. Jefferies Financial Group upped their price target on shares of WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Loop Capital increased their target price on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Robert W. Baird boosted their price target on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. KeyCorp raised their price objective on WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Finally, Stephens boosted their target price on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $215.88.

WESCO International Stock Down 0.5 %

The company’s 50-day moving average is $195.51 and its 200 day moving average is $175.48. The stock has a market capitalization of $8.98 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.55 and a beta of 2.02. The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99.

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, topping analysts’ consensus estimates of $3.22 by $0.36. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. During the same quarter last year, the company posted $4.49 earnings per share. The business’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, analysts anticipate that WESCO International, Inc. will post 12.3 EPS for the current year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.4125 dividend. This represents a $1.65 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, December 13th. WESCO International’s payout ratio is 13.21%.

Insiders Place Their Bets

In related news, CFO David S. Schulz sold 14,938 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now owns 104,471 shares in the company, 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 can be accessed through this hyperlink. Also, EVP William Clayton Geary sold 2,829 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $205.73, for a total transaction of $582,010.17. Following the completion of the transaction, the executive vice president now owns 35,063 shares of the company’s stock, valued at approximately $7,213,510.99. This trade represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,767 shares of company stock valued at $5,567,454. 3.10% of the stock is owned by insiders.

Hedge Funds Weigh In On WESCO International

Large investors have recently bought and sold shares of the business. Thompson Siegel & Walmsley LLC increased its position in shares of WESCO International by 0.3% in the second quarter. Thompson Siegel & Walmsley LLC now owns 58,511 shares of the technology company’s stock valued at $9,275,000 after buying an additional 173 shares in the last quarter. Pacer Advisors Inc. increased its holdings in WESCO International by 23,727.4% in the 2nd 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. Clearbridge Investments LLC acquired a new position in WESCO International during the second quarter worth $52,782,000. Heritage Wealth Management Inc. purchased a new position in WESCO International during the second quarter valued at $723,000. Finally, UMB Bank n.a. grew its position in shares of 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. Institutional investors and hedge funds own 93.76% of the company’s stock.

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).