WESCO International (NYSE:WCC) Price Target Raised to $200.00

WESCO International (NYSE:WCC) had its price target lifted by Loop Capital from $190.00 to $200.00 in a research note released on Monday, Benzinga reports. Loop Capital currently has a buy rating on the technology company’s stock.

WCC has been the subject of a number of other reports. Robert W. Baird reduced their price objective on shares of WESCO International from $203.00 to $170.00 and set an outperform rating for the company in a research note on Wednesday, February 14th. Oppenheimer upped their price objective on WESCO International from $190.00 to $200.00 and gave the company an outperform rating in a research report on Friday. KeyCorp lifted their target price on WESCO International from $190.00 to $205.00 and gave the stock an overweight rating in a report on Friday. Royal Bank of Canada lowered their price target on WESCO International from $176.00 to $172.00 and set a sector perform rating on the stock in a report on Friday. Finally, StockNews.com upgraded WESCO International from a hold rating to a buy rating in a report on Friday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $187.00.

WESCO International Price Performance

Shares of WCC opened at $172.92 on Monday. The firm’s 50-day simple moving average is $161.84 and its two-hundred day simple moving average is $160.39. WESCO International has a fifty-two week low of $122.30 and a fifty-two week high of $195.43. The stock has a market cap of $8.81 billion, a PE ratio of 14.40, a price-to-earnings-growth ratio of 1.19 and a beta of 2.07. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.33 and a current ratio of 2.21.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.13). The company had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.30 billion. WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.75 EPS. Analysts anticipate that WESCO International will post 14.12 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.4125 dividend. This is an increase from WESCO International’s previous quarterly dividend of $0.38. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Thursday, March 14th. WESCO International’s dividend payout ratio (DPR) is 13.74%.

Insider Buying and Selling

In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the transaction, the executive vice president now directly owns 54,385 shares of the company’s stock, valued at $10,333,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Nelson John Squires III sold 3,490 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction of $663,100.00. Following the completion of the sale, the executive vice president now directly owns 54,385 shares in the company, valued at $10,333,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Cameron sold 5,352 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $156.39, for a total transaction of $836,999.28. Following the completion of the transaction, the executive vice president now owns 33,595 shares in the company, valued at $5,253,922.05. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of WESCO International

Several hedge funds have recently bought and sold shares of WCC. TimesSquare Capital Management LLC bought a new position in shares of WESCO International in the first quarter worth about $463,000. Quent Capital LLC raised its stake in WESCO International by 9.9% during the 1st quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock worth $634,000 after acquiring an additional 333 shares during the period. Hosking Partners LLP lifted its holdings in WESCO International by 68.6% during the first quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock valued at $10,889,000 after purchasing an additional 25,864 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of WESCO International by 163.5% in the first quarter. BNP Paribas Financial Markets now owns 24,236 shares of the technology company’s stock worth $4,151,000 after purchasing an additional 15,037 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in shares of WESCO International by 14.6% in the first quarter. Peregrine Capital Management LLC now owns 10,218 shares of the technology company’s stock worth $1,750,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors 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).