WESCO International (NYSE:WCC) PT Lowered to $172.00

WESCO International (NYSE:WCC) had its price target reduced by Royal Bank of Canada from $176.00 to $172.00 in a research report sent to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the technology company’s stock.

A number of other research firms have also recently weighed in on WCC. JPMorgan Chase & Co. cut their price objective 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. Robert W. Baird reduced their price objective 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. StockNews.com downgraded shares of WESCO International from a buy rating to a hold rating in a research note on Wednesday, February 14th. KeyCorp upped their target price on WESCO International from $165.00 to $190.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Finally, Oppenheimer raised their price target on WESCO International from $190.00 to $200.00 and gave the stock an outperform rating in a research note on Friday. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, WESCO International has an average rating of Moderate Buy and an average target price of $187.00.

WESCO International Trading Up 3.1 %

WCC stock opened at $172.92 on Friday. The company has a market capitalization of $8.81 billion, a price-to-earnings ratio of 14.40, a PEG ratio of 1.19 and a beta of 2.07. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.33. WESCO International has a 1-year low of $122.30 and a 1-year high of $195.43. The business has a 50 day simple moving average of $161.27 and a two-hundred day simple moving average of $160.10.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.13). The company 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 revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.75 earnings per share. Research analysts anticipate that WESCO International will post 14.12 EPS for the current fiscal year.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.4125 dividend. This is an increase from WESCO International’s previous quarterly dividend of $0.38. This represents a $1.65 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Thursday, March 14th. WESCO International’s dividend payout ratio is currently 13.74%.

Insider Activity

In related news, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the transaction, the executive vice president now owns 54,385 shares of the company’s stock, valued at $10,333,150. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the company’s stock in a transaction on 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 approximately $10,333,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Cameron sold 5,352 shares of the firm’s stock in a transaction on 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. 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 WCC. Rise Advisors LLC acquired a new stake in WESCO International during the 1st quarter worth about $26,000. KB Financial Partners LLC grew its position in shares of WESCO International by 76.8% during the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock valued at $28,000 after acquiring an additional 86 shares during the period. Anchor Investment Management LLC purchased a new stake in shares of WESCO International in the fourth quarter valued at approximately $48,000. GAMMA Investing LLC acquired a new position in WESCO International during the fourth quarter worth $56,000. Finally, Richelieu Gestion SA acquired a new stake in shares of WESCO International during the 4th quarter worth about $122,000. 93.76% of the stock is currently owned by institutional investors.

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).