WESCO International, Inc. (NYSE:WCC) Stock Rated “Moderate Buy” by Wall Street Analysts

Shares of WESCO International, Inc. (NYSE:WCC) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $405.33.

A number of research analysts have recently issued reports on WCC shares. Wall Street Zen raised WESCO International from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Zacks Research lowered shares of WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. 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 report on Tuesday, July 14th. Barclays lifted their target price 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. Finally, Royal Bank Of Canada lifted their price objective on WESCO International from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Friday.

WESCO International Trading Down 2.3%

Shares of WCC stock opened at $335.15 on Tuesday. The company has a 50-day moving average of $350.34 and a two-hundred day moving average of $327.30. The firm has a market cap of $16.33 billion, a PE ratio of 20.80, a price-to-earnings-growth ratio of 2.07 and a beta of 1.54. WESCO International 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 1.13, a current ratio of 2.09 and a quick ratio of 1.23.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, October 29th. The technology company reported $5.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $1.08. WESCO International had a net margin of 2.84% and a return on equity of 14.95%. The company had revenue of $7.23 billion for the quarter, compared to analyst estimates of $6.87 billion. During the same period in the prior year, the business earned $3.92 EPS. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. On average, analysts predict that WESCO International will post 18.25 EPS for the current year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, September 11th. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. WESCO International’s dividend payout ratio (DPR) is currently 12.41%.

Insider Transactions at WESCO International

In related news, Director Laura K. Thompson sold 270 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $368.45, for a total value of $99,481.50. Following the sale, the director directly owned 10,720 shares of the company’s stock, valued at $3,949,784. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Akash Khurana sold 3,400 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 27,404 shares in the company, valued at $10,051,239.12. This represents a 11.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Hedge funds and other institutional investors have recently modified their holdings of the stock. Diversify Advisory Services LLC lifted its holdings in shares of WESCO International by 5.0% in the 3rd quarter. Diversify Advisory Services LLC now owns 672 shares of the technology company’s stock worth $233,000 after purchasing an additional 32 shares during the last quarter. Trust Point Inc. lifted its stake 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 buying an additional 33 shares during the last quarter. Sheets Smith Wealth Management lifted its stake 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 buying an additional 34 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of WESCO International by 0.4% during 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 acquiring an additional 37 shares during the period. Finally, North Dakota State Investment Board boosted its holdings in shares of WESCO International by 2.8% during the third quarter. North Dakota State Investment Board now owns 1,465 shares of the technology company’s stock valued at $527,000 after acquiring an additional 40 shares during the period. Institutional investors own 93.75% of the company’s stock.

About WESCO International

WESCO International, Inc is a business-to-business provider of electrical, communications, security, and supply chain solutions. The company distributes products used in electrical and electronic systems, including wire and cable, lighting, circuit protection, automation and control equipment, data communications infrastructure, security products, and other electrical and industrial supplies.

WESCO serves a broad range of customers, including electrical and data communications contractors, industrial companies, original equipment manufacturers, utilities, commercial and institutional businesses, government entities, and telecommunications providers.