WESCO International (NYSE:WCC) Sets New 52-Week High – Here’s Why

WESCO International, Inc. (NYSE:WCC) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $302.78 and last traded at $297.9430, with a volume of 777283 shares trading hands. The stock had previously closed at $289.43.

Analyst Upgrades and Downgrades

Several research firms have commented on WCC. Barclays increased their price target on shares of WESCO International from $274.00 to $302.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. KeyCorp lifted their price target on shares of WESCO International from $300.00 to $304.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of WESCO International in a report on Wednesday, January 21st. JPMorgan Chase & Co. upped their target price on WESCO International from $260.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Finally, Wall Street Zen downgraded WESCO International from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, WESCO International presently has an average rating of “Moderate Buy” and an average price target of $266.00.

WESCO International Stock Down 0.7%

The company has a current ratio of 2.09, a quick ratio of 1.20 and a debt-to-equity ratio of 1.18. The business’s 50-day simple moving average is $270.16 and its 200-day simple moving average is $239.95. The company has a market capitalization of $14.68 billion, a PE ratio of 23.66, a price-to-earnings-growth ratio of 1.93 and a beta of 1.45.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were issued a $0.4538 dividend. This represents a $1.82 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, December 12th. WESCO International’s dividend payout ratio is presently 14.27%.

Insider Buying and Selling at WESCO International

In other WESCO International news, EVP Christine Ann Wolf sold 4,685 shares of WESCO International stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $259.52, for a total transaction of $1,215,851.20. Following the completion of the transaction, the executive vice president owned 30,195 shares in the company, valued at approximately $7,836,206.40. This trade represents a 13.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. River Road Asset Management LLC grew its stake in shares of WESCO International by 56.0% during the 2nd quarter. River Road Asset Management LLC now owns 605,918 shares of the technology company’s stock worth $112,216,000 after purchasing an additional 217,417 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of WESCO International by 19.5% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 686,630 shares of the technology company’s stock valued at $145,222,000 after purchasing an additional 111,930 shares in the last quarter. Davis Selected Advisers boosted its position in WESCO International by 24.6% during the fourth quarter. Davis Selected Advisers now owns 364,502 shares of the technology company’s stock worth $89,172,000 after purchasing an additional 71,932 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in WESCO International by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 795,629 shares of the technology company’s stock valued at $147,351,000 after purchasing an additional 36,843 shares during the period. Finally, BNP Paribas Financial Markets increased its position in shares of WESCO International by 516.8% in the second quarter. BNP Paribas Financial Markets now owns 41,354 shares of the technology company’s stock valued at $7,659,000 after buying an additional 34,649 shares in the last quarter. 93.75% of the stock is owned by institutional investors and hedge funds.

About WESCO International

WESCO International, Inc is a leading global distributor of electrical, industrial, communications and utility products, serving a diverse customer base across maintenance, repair and operations (MRO), original equipment manufacturing (OEM) and construction markets. The company offers a comprehensive portfolio of products ranging from power distribution and automation solutions to data communications, security systems and lighting controls. Through an extensive branch network, WESCO provides critical components and value‐added services that help organizations streamline operations and improve reliability in their facilities and infrastructure.

In addition to its broad product offering, WESCO delivers advanced supply chain management and logistics solutions designed to optimize inventory levels, reduce downtime and lower overall procurement costs.