WESCO International’s (WCC) Hold (C+) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c+) rating on shares of WESCO International (NYSE:WCC) in a report published on Friday morning,Weiss Ratings reports.

WCC has been the subject of several other reports. Loop Capital increased their price objective on shares of WESCO International from $220.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Wall Street Zen raised WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Stephens cut WESCO International from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $190.00 to $200.00 in a research note on Wednesday, July 16th. Barclays began coverage on WESCO International in a report on Wednesday, October 8th. They set an “overweight” rating and a $258.00 target price on the stock. Finally, KeyCorp upped their price target on shares of WESCO International from $240.00 to $258.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $237.20.

WESCO International Price Performance

NYSE WCC opened at $225.92 on Friday. The company has a 50-day moving average price of $216.44 and a two-hundred day moving average price of $193.19. WESCO International has a 52 week low of $125.21 and a 52 week high of $228.35. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 1.75 and a beta of 1.79. The company has a current ratio of 2.09, a quick ratio of 1.19 and a debt-to-equity ratio of 1.19.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, beating the consensus estimate of $3.31 by $0.08. The firm had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.82 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $3.21 EPS. Analysts forecast that WESCO International will post 13.3 EPS for the current year.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th were issued a $0.4538 dividend. This represents a $1.82 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, September 12th. WESCO International’s dividend payout ratio (DPR) is presently 14.25%.

Insiders Place Their Bets

In related news, CFO David S. Schulz sold 12,227 shares of the company’s stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $225.17, for a total value of $2,753,153.59. Following the completion of the sale, the chief financial officer owned 110,376 shares in the company, valued at approximately $24,853,363.92. This represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James Cameron sold 10,325 shares of WESCO International stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $226.45, for a total transaction of $2,338,096.25. Following the transaction, the executive vice president owned 45,706 shares in the company, valued at approximately $10,350,123.70. The trade was a 18.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,131 shares of company stock valued at $30,384,421 over the last 90 days. 3.10% of the stock is owned by corporate insiders.

Institutional Trading of WESCO International

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in WESCO International by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 795,629 shares of the technology company’s stock worth $147,351,000 after purchasing an additional 36,843 shares during the last quarter. River Road Asset Management LLC increased its holdings in WESCO International by 56.0% in the second quarter. River Road Asset Management LLC now owns 605,918 shares of the technology company’s stock worth $112,216,000 after buying an additional 217,417 shares during the last quarter. Pacer Advisors Inc. increased its holdings in WESCO International by 6,769.8% in the first quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company’s stock worth $70,862,000 after buying an additional 449,648 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in WESCO International during the second quarter valued at approximately $75,136,000. Finally, Ameriprise Financial Inc. lifted its stake in WESCO International by 21.2% in the first quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company’s stock valued at $48,001,000 after acquiring an additional 54,046 shares during the last quarter. Institutional investors and hedge funds own 93.75% 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).