WESCO International (NYSE:WCC) Price Target Raised to $435.00

WESCO International (NYSE:WCC) had its price objective raised by Royal Bank Of Canada from $430.00 to $435.00 in a research note released on Wednesday,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

WCC has been the topic of a number of other reports. DA Davidson assumed coverage on shares of WESCO International in a research report on Tuesday, June 16th. They set a “buy” rating and a $440.00 price objective on the stock. Weiss Ratings upgraded shares of WESCO International from a “hold (c+)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Stephens raised shares of WESCO International from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $350.00 to $400.00 in a research note on Tuesday, July 14th. Zacks Research raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, Barclays boosted their price target on shares of WESCO International from $390.00 to $437.00 and gave the company an “overweight” rating in a report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $402.83.

WESCO International Stock Down 1.6%

Shares of WESCO International stock opened at $340.98 on Wednesday. WESCO International has a 1 year low of $211.47 and a 1 year high of $388.64. The company has a market cap of $16.62 billion, a P/E ratio of 23.56, a P/E/G ratio of 2.07 and a beta of 1.54. The company has a current ratio of 2.09, a quick ratio of 1.23 and a debt-to-equity ratio of 1.13. The stock has a 50-day moving average price of $354.10 and a 200 day moving average price of $342.18.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, July 30th. The technology company reported $4.57 earnings per share for the quarter, beating the consensus estimate of $3.98 by $0.59. The company had revenue of $6.67 billion for the quarter, compared to analysts’ expectations of $6.44 billion. WESCO International had a return on equity of 14.95% and a net margin of 2.84%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.83 EPS. WESCO International has set its FY 2026 guidance at 16.000-17.500 EPS. As a group, analysts expect that WESCO International will post 16.77 EPS for the current fiscal year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, September 11th. WESCO International’s payout ratio is currently 13.82%.

Insider Activity at WESCO International

In related news, EVP Akash Khurana sold 3,400 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $366.78, for a total transaction of $1,247,052.00. Following the transaction, the executive vice president owned 27,404 shares of the company’s stock, valued at approximately $10,051,239.12. This trade represents a 11.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Daniel J. Castillo bought 960 shares of WESCO International stock in a transaction on Tuesday, August 4th. The stock was acquired at an average price of $365.89 per share, with a total value of $351,254.40. Following the completion of the purchase, the executive vice president directly owned 16,305 shares of the company’s stock, valued at approximately $5,965,836.45. The trade was a 6.26% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Trust Point Inc. boosted its holdings in WESCO International by 4.5% in the second quarter. Trust Point Inc. now owns 771 shares of the technology company’s stock worth $266,000 after purchasing an additional 33 shares in the last quarter. Sheets Smith Wealth Management raised its holdings in WESCO International by 2.2% during the second quarter. Sheets Smith Wealth Management now owns 1,565 shares of the technology company’s stock valued at $541,000 after buying an additional 34 shares in the last quarter. Fragasso Financial Advisors Inc raised its holdings in WESCO International by 2.7% during the third quarter. Fragasso Financial Advisors Inc now owns 1,603 shares of the technology company’s stock valued at $586,000 after buying an additional 42 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in shares of WESCO International by 70.3% in the third quarter. Elevation Wealth Partners LLC now owns 109 shares of the technology company’s stock worth $39,000 after buying an additional 45 shares during the last quarter. Finally, Bessemer Group Inc. lifted its position in shares of WESCO International by 2.4% in the first quarter. Bessemer Group Inc. now owns 2,214 shares of the technology company’s stock worth $606,000 after buying an additional 51 shares during the last quarter. Institutional investors own 93.75% of the company’s stock.

About WESCO International

WESCO International, Inc is a global provider of electrical, communications, utility and supply chain solutions. Through its distribution and service operations, the company supplies products used in commercial, industrial, institutional, utility, data center, broadband and residential markets.

Its product offerings include electrical and electronic components, wire and cable, lighting and controls, network infrastructure, security and safety products, automation equipment, and general industrial supplies.