WESCO International, Inc. (NYSE:WCC) Given Consensus Rating of “Moderate Buy” by Analysts

WESCO International, Inc. (NYSE:WCC) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $180.50.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. KeyCorp lowered their price target on WESCO International from $185.00 to $165.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Oppenheimer lifted their price target on WESCO International from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 14th. Finally, Royal Bank of Canada cut WESCO International from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $202.00 to $173.00 in a report on Tuesday, February 13th.

Insider Transactions at WESCO International

In other news, EVP Nelson John Squires III sold 3,490 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was 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 owns 54,385 shares in the company, valued at approximately $10,333,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP James Cameron sold 5,352 shares of the business’s 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 transaction, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nelson John Squires III sold 3,490 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $10,333,150. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On WESCO International

Several hedge funds and other institutional investors have recently bought and sold shares of WCC. KB Financial Partners LLC lifted its position in WESCO International by 76.8% during the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after acquiring an additional 86 shares in the last quarter. Park Place Capital Corp raised its position in shares of WESCO International by 41.3% in the 3rd quarter. Park Place Capital Corp now owns 294 shares of the technology company’s stock valued at $42,000 after purchasing an additional 86 shares in the last quarter. Anchor Investment Management LLC acquired a new position in shares of WESCO International in the 4th quarter valued at approximately $48,000. GAMMA Investing LLC acquired a new position in shares of WESCO International in the 4th quarter valued at approximately $56,000. Finally, Fred Alger Management LLC acquired a new position in shares of WESCO International in the 3rd quarter valued at approximately $60,000. 93.76% of the stock is owned by institutional investors and hedge funds.

WESCO International Trading Up 1.4 %

NYSE:WCC opened at $170.81 on Thursday. The stock has a fifty day simple moving average of $163.50 and a 200-day simple moving average of $156.79. WESCO International has a 52-week low of $121.90 and a 52-week high of $195.43. The company has a market capitalization of $8.70 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 1.18 and a beta of 2.05. The company has a quick ratio of 1.42, a current ratio of 2.48 and a debt-to-equity ratio of 1.06.

WESCO International (NYSE:WCC) last announced its earnings results on Tuesday, February 13th. The technology company reported $2.65 earnings per share for the quarter, missing the consensus estimate of $3.86 by ($1.21). WESCO International had a net margin of 3.42% and a return on equity of 17.01%. The firm had revenue of $5.50 billion during the quarter, compared to analyst estimates of $5.59 billion. During the same period in the previous year, the firm posted $4.13 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts expect that WESCO International will post 14.23 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a dividend of $0.4125 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.97%. This is a boost from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s payout ratio is presently 12.19%.

WESCO International Company Profile

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).