KeyCorp Boosts WESCO International (NYSE:WCC) Price Target to $205.00

WESCO International (NYSE:WCC) had its price objective upped by KeyCorp from $190.00 to $205.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the technology company’s stock.

WCC has been the topic of several other research reports. Oppenheimer lifted their target price on shares of WESCO International from $190.00 to $200.00 and gave the stock an outperform rating in a research report on Friday. Robert W. Baird cut their price target on shares of WESCO International from $203.00 to $170.00 and set an outperform rating on the stock in a report on Wednesday, February 14th. StockNews.com downgraded shares of WESCO International from a buy rating to a hold rating in a report on Wednesday, February 14th. Royal Bank of Canada dropped their target price on shares of WESCO International from $176.00 to $172.00 and set a sector perform rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. decreased their price target 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. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $187.00.

WESCO International Stock Up 3.1 %

WCC stock opened at $172.92 on Friday. The stock’s 50 day moving average is $161.27 and its 200-day moving average is $160.10. WESCO International has a twelve month low of $122.30 and a twelve month high of $195.43. The firm has a market capitalization of $8.81 billion, a PE ratio of 14.40, a P/E/G ratio of 1.19 and a beta of 2.07. The company has a quick ratio of 1.33, a current ratio of 2.21 and a debt-to-equity ratio of 1.04.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The firm had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.30 billion. WESCO International had a return on equity of 15.10% and a net margin of 3.08%. WESCO International’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.75 earnings per share. Sell-side analysts expect that WESCO International will post 14.12 EPS for the current fiscal year.

WESCO International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 0.95%. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Thursday, March 14th. WESCO International’s payout ratio is currently 13.74%.

Insider Buying and Selling at WESCO International

In related news, EVP Nelson John Squires III sold 3,490 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the sale, the executive vice president now directly owns 54,385 shares in the company, valued at approximately $10,333,150. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other WESCO International news, EVP James Cameron sold 5,352 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the sale, the executive vice president now directly owns 33,595 shares in the company, valued at approximately $5,253,922.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nelson John Squires III sold 3,490 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total transaction of $663,100.00. Following the transaction, the executive vice president now owns 54,385 shares of the company’s stock, valued at $10,333,150. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

A number of institutional investors and hedge funds have recently made changes to their positions in WCC. Lyrical Asset Management LP grew its position in WESCO International by 2,583.9% during the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock worth $133,040,000 after buying an additional 736,616 shares in the last quarter. River Road Asset Management LLC bought a new position in shares of WESCO International in the fourth quarter worth approximately $79,404,000. Bank of New York Mellon Corp raised its stake in WESCO International by 1.0% in the third quarter. Bank of New York Mellon Corp now owns 417,250 shares of the technology company’s stock valued at $60,009,000 after purchasing an additional 4,187 shares in the last quarter. Farmers & Merchants Investments Inc. lifted its position in WESCO International by 0.4% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 190,759 shares of the technology company’s stock valued at $33,169,000 after purchasing an additional 790 shares during the last quarter. Finally, J. L. Bainbridge & Co. Inc. grew its stake in WESCO International by 4.5% in the 3rd quarter. J. L. Bainbridge & Co. Inc. now owns 164,213 shares of the technology company’s stock worth $23,617,000 after buying an additional 7,048 shares in the last quarter. Hedge funds and other institutional investors own 93.76% of the company’s stock.

About WESCO International

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).