WESCO International (NYSE:WCC) EVP Purchases $99,902.77 in Stock

WESCO International, Inc. (NYSE:WCC) EVP Anthony Marino bought 341 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was acquired at an average cost of $292.97 per share, for a total transaction of $99,902.77. Following the completion of the purchase, the executive vice president directly owned 1,363 shares in the company, valued at approximately $399,318.11. This represents a 33.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

WESCO International Trading Up 3.6%

Shares of WESCO International stock opened at $328.21 on Thursday. The stock has a market cap of $15.97 billion, a P/E ratio of 20.37, a P/E/G ratio of 1.72 and a beta of 1.55. The stock’s 50 day simple moving average is $346.87 and its 200-day simple moving average is $328.45. WESCO International, Inc. has a 1-year low of $240.55 and a 1-year high of $388.64. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.01 and a quick ratio of 1.19.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 29th. The technology company reported $5.77 EPS for the quarter, beating the consensus estimate of $4.69 by $1.08. WESCO International had a return on equity of 16.27% and a net margin of 3.04%. The firm had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $6.87 billion. During the same quarter last year, the firm earned $3.92 earnings per share. The business’s revenue for the quarter was up 16.6% on a year-over-year basis. Analysts predict that WESCO International, Inc. will post 18.39 EPS for the current fiscal year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, September 11th. WESCO International’s dividend payout ratio is presently 12.41%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WCC. Diversify Advisory Services LLC grew its position in WESCO International by 5.0% in the third quarter. Diversify Advisory Services LLC now owns 672 shares of the technology company’s stock worth $233,000 after acquiring an additional 32 shares during the period. Trust Point Inc. raised its position in WESCO International by 4.5% in the second quarter. Trust Point Inc. now owns 771 shares of the technology company’s stock valued at $266,000 after purchasing an additional 33 shares during the period. Sheets Smith Wealth Management raised its position in WESCO International by 2.2% in the second quarter. Sheets Smith Wealth Management now owns 1,565 shares of the technology company’s stock valued at $541,000 after purchasing an additional 34 shares during the period. Oregon Public Employees Retirement Fund raised its position in WESCO International by 0.4% in the third quarter. Oregon Public Employees Retirement Fund now owns 10,095 shares of the technology company’s stock valued at $3,630,000 after purchasing an additional 37 shares during the period. Finally, North Dakota State Investment Board lifted its stake in shares of WESCO International by 2.8% in the 3rd quarter. North Dakota State Investment Board now owns 1,465 shares of the technology company’s stock valued at $527,000 after purchasing an additional 40 shares during the last quarter. 93.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WCC shares. Zacks Research downgraded WESCO International from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Weiss Ratings cut shares of WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Barclays upped their price objective on shares of WESCO International from $437.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank Of Canada upped their price objective on shares of WESCO International from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Finally, Wall Street Zen upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, WESCO International has a consensus rating of “Moderate Buy” and a consensus price target of $405.71.

About WESCO International

WESCO International is a business-to-business distributor of electrical, communications, utility and industrial products. Its offerings include wire and cable, lighting, electrical equipment, networking and security systems, and supplies used in maintenance, repair and operations. The company also provides services such as procurement, inventory management, logistics, project support and supply-chain consulting. Its customers include contractors, manufacturers, utilities, communications providers, government organizations and commercial businesses.