WESCO International (NYSE:WCC) Price Target Raised to $200.00

WESCO International (NYSE:WCC) had its price target hoisted by Oppenheimer from $190.00 to $200.00 in a research report released on Friday, Benzinga reports. Oppenheimer currently has an outperform rating on the technology company’s stock.

WCC has been the topic of a number of other reports. 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 report on Wednesday, February 14th. KeyCorp lifted their price objective on WESCO International from $165.00 to $190.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Royal Bank of Canada lowered WESCO International from an outperform rating to a sector perform rating and lowered their target price for the company from $202.00 to $173.00 in a research note on Tuesday, February 13th. StockNews.com lowered shares of WESCO International from a buy rating to a hold rating in a report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. reduced their target price on shares of WESCO International from $180.00 to $175.00 and set an overweight rating on the stock in a research report on Friday, March 15th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, WESCO International has an average rating of Moderate Buy and an average target price of $188.67.

WESCO International Stock Up 1.6 %

Shares of WCC opened at $167.70 on Friday. WESCO International has a 12 month low of $121.90 and a 12 month high of $195.43. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 1.19 and a beta of 2.07. The company has a 50-day moving average price of $161.27 and a two-hundred day moving average price of $159.91. The company has a quick ratio of 1.42, a current ratio of 2.21 and a debt-to-equity ratio of 1.04.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.13). The company had revenue of $5.35 billion during the quarter, compared to analyst estimates of $5.30 billion. WESCO International had a net margin of 3.08% and a return on equity of 15.10%. WESCO International’s quarterly 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 EPS. Equities analysts predict that WESCO International will post 14.12 EPS for the current fiscal year.

WESCO International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were given a dividend of $0.4125 per share. This is a boost from WESCO International’s previous quarterly dividend of $0.38. The ex-dividend date was Thursday, March 14th. This represents a $1.65 annualized dividend and a dividend yield of 0.98%. WESCO International’s payout ratio is presently 13.74%.

Insider Activity at WESCO International

In other WESCO International news, 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 transaction of $836,999.28. Following the transaction, the executive vice president now owns 33,595 shares in the company, valued at $5,253,922.05. The sale was disclosed in a document filed with the SEC, which is available through this link. In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 54,385 shares in the company, valued at $10,333,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the transaction, the executive vice president now owns 33,595 shares in the company, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in WESCO International in the 1st quarter worth $26,000. KB Financial Partners LLC grew its holdings in shares of WESCO International by 76.8% during the third quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after buying an additional 86 shares in the last quarter. Anchor Investment Management LLC bought a new stake in WESCO International in the 4th quarter valued at approximately $48,000. GAMMA Investing LLC bought a new position in shares of WESCO International during the 4th quarter worth approximately $56,000. Finally, Richelieu Gestion SA bought a new stake in shares of WESCO International in the fourth quarter worth $122,000. 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).