Royal Bank of Canada Cuts WESCO International (NYSE:WCC) Price Target to $172.00

WESCO International (NYSE:WCC) had its price target reduced by Royal Bank of Canada from $176.00 to $172.00 in a report issued on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the technology company’s stock.

WCC has been the topic of a number of other research reports. Oppenheimer upped their target price on WESCO International from $190.00 to $200.00 and gave the company an outperform rating in a research note on Friday. Robert W. Baird reduced their price target on shares of WESCO International from $203.00 to $170.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th. 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. KeyCorp lifted their target price on WESCO International from $165.00 to $190.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Finally, StockNews.com downgraded WESCO International from a buy rating to a hold rating in a research report on Wednesday, February 14th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $188.67.

WESCO International Price Performance

NYSE:WCC opened at $167.70 on Friday. The firm has a market capitalization of $8.54 billion, a price-to-earnings ratio of 13.96, a PEG ratio of 1.19 and a beta of 2.07. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.42. The business has a 50 day simple moving average of $161.27 and a 200-day simple moving average of $159.91. WESCO International has a 1 year low of $121.90 and a 1 year high of $195.43.

WESCO International (NYSE:WCC) last issued its quarterly earnings results 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). WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.30 billion. During the same quarter in the prior year, the business earned $3.75 earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities analysts forecast that WESCO International will post 14.12 EPS for the current year.

WESCO International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.4125 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.65 dividend on an annualized basis and a yield of 0.98%. This is an increase from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Insider Buying and Selling at WESCO International

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

Institutional Trading of WESCO International

Several institutional investors and hedge funds have recently bought and sold shares of WCC. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of WESCO International during the fourth quarter worth $2,256,000. Amalgamated Bank raised its stake in shares of WESCO International by 16.1% during the 3rd quarter. Amalgamated Bank now owns 34,221 shares of the technology company’s stock valued at $4,922,000 after buying an additional 4,733 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its holdings in shares of WESCO International by 2.6% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 54,985 shares of the technology company’s stock valued at $7,908,000 after buying an additional 1,390 shares during the period. Van ECK Associates Corp boosted its stake in shares of WESCO International by 119.7% in the third quarter. Van ECK Associates Corp now owns 15,871 shares of the technology company’s stock worth $2,283,000 after buying an additional 8,647 shares during the last quarter. Finally, Hosking Partners LLP grew its holdings in WESCO International by 20.1% during the third quarter. Hosking Partners LLP now owns 40,424 shares of the technology company’s stock worth $5,814,000 after acquiring an additional 6,752 shares during the period. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).