WESCO International, Inc. (NYSE:WCC) Given Average Recommendation of “Buy” by Brokerages

WESCO International, Inc. (NYSE:WCC) has been assigned an average recommendation of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $215.88.

Several brokerages have issued reports on WCC. KeyCorp increased their target price on WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Robert W. Baird boosted their target price on shares of WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group boosted their price objective on shares of WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 6th.

Insider Buying and Selling

In other WESCO International news, EVP William Clayton Geary sold 2,829 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 35,063 shares in the company, valued at approximately $7,213,510.99. The trade was a 7.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David S. Schulz sold 14,938 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total value of $3,085,443.90. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,767 shares of company stock valued at $5,567,454. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WESCO International

Several hedge funds and other institutional investors have recently modified their holdings of WCC. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after acquiring an additional 69 shares during the period. V Square Quantitative Management LLC acquired a new position in WESCO International in the 3rd quarter valued at about $28,000. UMB Bank n.a. grew its stake in shares of WESCO International by 18.3% in the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after buying an additional 98 shares during the period. Innealta Capital LLC acquired a new stake in shares of WESCO International during the 2nd quarter worth approximately $152,000. Finally, Highland Capital Management LLC purchased a new stake in shares of WESCO International during the 3rd quarter valued at approximately $221,000. 93.76% of the stock is owned by hedge funds and other institutional investors.

WESCO International Price Performance

WESCO International stock opened at $180.33 on Friday. WESCO International has a 12-month low of $132.37 and a 12-month high of $216.17. 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 firm has a 50-day moving average price of $194.86 and a 200-day moving average price of $174.67. The firm has a market capitalization of $8.84 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.55 and a beta of 2.01.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. The firm had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $4.49 earnings per share. As a group, equities research analysts forecast that WESCO International will post 12.3 EPS for the current year.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.4125 dividend. This represents a $1.65 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Friday, December 13th. WESCO International’s dividend payout ratio is currently 13.21%.

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).