WESCO International (NYSE:WCC) Price Target Raised to $213.00 at Royal Bank of Canada

WESCO International (NYSE:WCC) had its price target hoisted by Royal Bank of Canada from $212.00 to $213.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a sector perform rating on the technology company’s stock.

Several other analysts have also weighed in on the company. StockNews.com raised WESCO International from a “hold” rating to a “buy” rating in a report on Friday, January 17th. Jefferies Financial Group increased their price objective on WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, December 6th. KeyCorp increased their price objective on WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Oppenheimer increased their price objective on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Stephens increased their price objective on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $217.63.

WESCO International Stock Up 2.5 %

WESCO International stock opened at $193.22 on Wednesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. The firm has a market capitalization of $9.47 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.34 and a beta of 2.01. WESCO International has a fifty-two week low of $132.37 and a fifty-two week high of $216.17. The stock’s fifty day moving average is $187.14 and its two-hundred day moving average is $179.65.

WESCO International (NYSE:WCC) last posted its 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 net margin of 3.19% and a return on equity of 13.19%. Analysts predict that WESCO International will post 12.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.4125 per share. The ex-dividend date was Friday, December 13th. This represents a $1.65 annualized dividend and a yield of 0.85%. WESCO International’s dividend payout ratio (DPR) is presently 13.21%.

Hedge Funds Weigh In On WESCO International

Several large investors have recently added to or reduced their stakes in WCC. V Square Quantitative Management LLC purchased a new position in WESCO International during the third quarter worth about $28,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of WESCO International by 43.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock worth $48,000 after purchasing an additional 81 shares during the period. GAMMA Investing LLC raised its holdings in shares of WESCO International by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after purchasing an additional 75 shares during the period. Millstone Evans Group LLC purchased a new position in shares of WESCO International in the 4th quarter worth about $122,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in shares of WESCO International in the 4th quarter worth about $204,000. 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).