WESCO International (NYSE:WCC) Price Target Raised to $225.00 at KeyCorp

WESCO International (NYSE:WCC) had its price objective raised by KeyCorp from $195.00 to $225.00 in a research report report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the company. Loop Capital upped their target price on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 27th. Royal Bank of Canada increased their target price on shares of WESCO International from $171.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Friday, September 27th. Stephens restated an “overweight” rating and set a $190.00 price target on shares of WESCO International in a report on Monday, August 5th. Robert W. Baird increased their price objective on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $206.71.

WESCO International Trading Down 2.0 %

NYSE WCC traded down $3.80 on Friday, hitting $188.17. 927,268 shares of the company were exchanged, compared to its average volume of 736,339. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.34. WESCO International has a twelve month low of $131.38 and a twelve month high of $195.99. The firm has a market capitalization of $9.25 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 1.59 and a beta of 2.01. The company’s 50 day moving average price is $168.15 and its 200-day moving average price is $167.47.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the business posted $4.49 EPS. The company’s revenue was down 2.7% on a year-over-year basis. Analysts predict that WESCO International will post 12.04 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.4125 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.65 annualized dividend and a dividend yield of 0.88%. WESCO International’s dividend payout ratio (DPR) is presently 13.21%.

Insider Buying and Selling at WESCO International

In related news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the sale, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of WESCO International stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the transaction, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at $10,377,990. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the transaction, the director now owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WESCO International

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its position in WESCO International by 23,727.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after purchasing an additional 1,582,379 shares during the last quarter. Clearbridge Investments LLC bought a new position in WESCO International in the second quarter worth $52,782,000. Neo Ivy Capital Management acquired a new stake in WESCO International during the second quarter worth $5,916,000. Russell Investments Group Ltd. increased its holdings in WESCO International by 74.8% in the 1st quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock valued at $12,486,000 after buying an additional 31,200 shares during the period. Finally, Hosking Partners LLP raised its stake in shares of WESCO International by 68.6% in the 1st quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock valued at $10,889,000 after buying an additional 25,864 shares in the last quarter. Institutional investors own 93.76% of the company’s stock.

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).