WESCO International (NYSE:WCC) Sets New 52-Week High – Here’s What Happened

Shares of WESCO International, Inc. (NYSE:WCC) hit a new 52-week high on Tuesday. The company traded as high as $387.00 and last traded at $381.6860, with a volume of 49015 shares trading hands. The stock had previously closed at $377.09.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. DA Davidson initiated coverage on shares of WESCO International in a research note on Tuesday, June 16th. They issued a “buy” rating and a $440.00 price target for the company. Barclays boosted their target price on WESCO International from $376.00 to $390.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. Royal Bank Of Canada upped their price target on WESCO International from $421.00 to $430.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Wall Street Zen cut WESCO International from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Stephens upgraded shares of WESCO International from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $350.00 to $400.00 in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $394.17.

WESCO International Price Performance

The company has a market capitalization of $17.84 billion, a PE ratio of 25.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.54. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.09 and a quick ratio of 1.23. The company’s 50 day simple moving average is $355.01 and its 200 day simple moving average is $338.30.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, July 30th. The technology company reported $4.57 EPS for the quarter, beating analysts’ consensus estimates of $3.98 by $0.59. WESCO International had a net margin of 2.84% and a return on equity of 14.95%. The firm had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.44 billion. During the same period last year, the firm posted $3.83 EPS. The company’s revenue was up 13.0% on a year-over-year basis. WESCO International has set its FY 2026 guidance at 16.000-17.500 EPS. As a group, sell-side analysts predict that WESCO International, Inc. will post 16.77 earnings per share for the current year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were paid a $0.50 dividend. The ex-dividend date was Friday, September 11th. This represents a $2.00 dividend on an annualized basis and a yield of 0.5%. WESCO International’s payout ratio is currently 13.82%.

Insider Transactions at WESCO International

In other news, Director Laura K. Thompson sold 270 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $368.45, for a total transaction of $99,481.50. Following the completion of the sale, the director owned 10,720 shares in the company, valued at approximately $3,949,784. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Daniel J. Castillo purchased 960 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was bought at an average price of $365.89 per share, for a total transaction of $351,254.40. Following the transaction, the executive vice president directly owned 16,305 shares in the company, valued at $5,965,836.45. This trade represents a 6.26% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Several hedge funds have recently modified their holdings of WCC. Vaughan Nelson Investment Management L.P. raised its stake in shares of WESCO International by 8.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 404,730 shares of the technology company’s stock worth $110,742,000 after buying an additional 31,210 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in WESCO International by 28.8% in the second quarter. Sequoia Financial Advisors LLC now owns 23,336 shares of the technology company’s stock worth $8,061,000 after acquiring an additional 5,224 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of WESCO International during the 2nd quarter worth $3,094,634,000. Engineers Gate Manager LP acquired a new position in shares of WESCO International during the 2nd quarter worth $8,338,000. Finally, Van Lanschot Kempen Investment Management N.V. increased its holdings in shares of WESCO International by 74.8% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 186,012 shares of the technology company’s stock valued at $45,506,000 after purchasing an additional 79,612 shares in the last quarter. 93.75% of the stock is owned by institutional investors and hedge funds.

WESCO International Company Profile

WESCO International, Inc is a global provider of electrical, communications, utility and supply chain solutions. Through its distribution and service operations, the company supplies products used in commercial, industrial, institutional, utility, data center, broadband and residential markets.

Its product offerings include electrical and electronic components, wire and cable, lighting and controls, network infrastructure, security and safety products, automation equipment, and general industrial supplies.