Brokerages Set WESCO International, Inc. (NYSE:WCC) Target Price at $219.43

Shares of WESCO International, Inc. (NYSE:WCC) have received an average recommendation of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $219.43.

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 6th. Royal Bank of Canada lifted their price objective on WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. KeyCorp cut their price objective on shares of WESCO International from $245.00 to $205.00 and set an “overweight” rating for the company in a research report on Monday, March 17th. StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Finally, Stephens upped their price target on shares of WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Tuesday, February 18th.

WESCO International Trading Down 5.4 %

Shares of NYSE:WCC opened at $135.97 on Monday. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.45 and a beta of 1.83. WESCO International has a 12 month low of $129.26 and a 12 month high of $216.17. The company’s fifty day simple moving average is $174.02 and its 200 day simple moving average is $182.35. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. As a group, research analysts forecast that WESCO International will post 13.3 EPS for the current fiscal year.

WESCO International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.4538 dividend. This represents a $1.82 annualized dividend and a dividend yield of 1.33%. This is an increase from WESCO International’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, March 14th. WESCO International’s dividend payout ratio is presently 13.85%.

Institutional Trading of WESCO International

Hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new position in shares of WESCO International in the third quarter worth about $1,160,000. BNP Paribas Financial Markets grew its position in shares of WESCO International by 80.4% in the third quarter. BNP Paribas Financial Markets now owns 12,034 shares of the technology company’s stock valued at $2,021,000 after purchasing an additional 5,363 shares in the last quarter. MetLife Investment Management LLC raised its stake in WESCO International by 0.4% during the third quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company’s stock worth $3,881,000 after purchasing an additional 85 shares during the period. Geode Capital Management LLC lifted its stake in shares of WESCO International by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock valued at $128,143,000 after purchasing an additional 22,080 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of WESCO International during the 3rd quarter worth approximately $592,000. 93.76% of the stock is 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).