WESCO International (NYSE:WCC) Price Target Raised to $205.00

WESCO International (NYSE:WCC) had its price target raised by Stephens from $190.00 to $205.00 in a research report sent to investors on Tuesday, Benzinga reports. Stephens currently has an overweight rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. StockNews.com raised WESCO International from a “hold” rating to a “buy” rating in a research report on Monday. Oppenheimer lifted their price target on WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird lifted their price target on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Loop Capital lifted their price target on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, KeyCorp lifted their price target on WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $208.86.

WESCO International Price Performance

WCC stock opened at $188.00 on Tuesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29. The firm has a market capitalization of $9.24 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.52 and a beta of 2.01. The business’s 50-day moving average is $168.53 and its two-hundred day moving average is $167.88. WESCO International has a 1 year low of $132.37 and a 1 year high of $195.99.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the company earned $4.49 EPS. The business’s quarterly revenue was down 2.7% on a year-over-year basis. Analysts anticipate that WESCO International will post 12.18 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.4125 dividend. 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 currently 13.21%.

Insider Buying and Selling at WESCO International

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

Institutional Trading of WESCO International

A number of institutional investors have recently modified their holdings of the business. Whittier Trust Co. of Nevada Inc. boosted its position in WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. UMB Bank n.a. boosted its position in WESCO International by 18.3% during the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after purchasing an additional 98 shares in the last quarter. GAMMA Investing LLC boosted its position in WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares in the last quarter. Greenleaf Trust boosted its position in WESCO International by 4.8% during the third quarter. Greenleaf Trust now owns 2,401 shares of the technology company’s stock worth $403,000 after purchasing an additional 111 shares in the last quarter. Finally, V Square Quantitative Management LLC purchased a new stake in WESCO International during the third quarter worth $28,000. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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).