WESCO International (NYSE:WCC) Trading Down 5%

Shares of WESCO International, Inc. (NYSE:WCCGet Free Report) were down 5% on Friday . The company traded as low as $164.69 and last traded at $165.89. Approximately 79,345 shares traded hands during trading, a decline of 88% from the average daily volume of 671,260 shares. The stock had previously closed at $174.63.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Loop Capital upped their price target on WESCO International from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, May 6th. Baird R W cut shares of WESCO International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. JPMorgan Chase & Co. cut their price target on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, March 15th. KeyCorp upped their price target on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, Robert W. Baird reissued a “neutral” rating and set a $195.00 price objective (down previously from $200.00) on shares of WESCO International in a research note on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $191.17.

Get Our Latest Stock Report on WESCO International

WESCO International Trading Down 5.5 %

The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.33. The stock has a 50 day moving average of $172.02 and a 200 day moving average of $168.19. The firm has a market cap of $8.37 billion, a P/E ratio of 13.57, a PEG ratio of 1.26 and a beta of 2.06.

WESCO International (NYSE:WCCGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 earnings per share 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 net margin of 3.08% and a return on equity of 15.10%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $3.75 earnings per share. As a group, equities research analysts predict that WESCO International, Inc. will post 14.07 EPS for the current year.

WESCO International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.4125 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.00%. WESCO International’s dividend payout ratio (DPR) is 13.74%.

Insider Buying and Selling

In other news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of WESCO International stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total value of $302,785,000.00. Following the transaction, the insider now owns 2,134,683 shares in the company, valued at $369,342,852.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other WESCO International news, CAO Matthew S. Kulasa sold 474 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $191.69, for a total transaction of $90,861.06. Following the completion of the sale, the chief accounting officer now owns 3,555 shares of the company’s stock, valued at approximately $681,457.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the completion of the sale, the insider now directly owns 2,134,683 shares in the company, valued at approximately $369,342,852.66. The disclosure for this sale can be found here. Insiders have sold a total of 1,754,960 shares of company stock worth $303,728,784 in the last 90 days. 3.10% of the stock is owned by company insiders.

Institutional Trading of WESCO International

A number of institutional investors have recently modified their holdings of WCC. Motley Fool Asset Management LLC bought a new position in shares of WESCO International during the first quarter valued at approximately $543,000. Redwood Investment Management LLC purchased a new position in WESCO International during the 1st quarter valued at $639,000. Blue Edge Capital LLC bought a new position in WESCO International in the 1st quarter worth $2,278,000. Russell Investments Group Ltd. lifted its position in shares of WESCO International by 74.8% in the 1st quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock worth $12,486,000 after purchasing an additional 31,200 shares during the period. Finally, TimesSquare Capital Management LLC bought a new stake in shares of WESCO International during the 1st quarter valued at about $463,000. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

About WESCO International

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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).

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