WESCO International (NYSE:WCC) Price Target Raised to $200.00

WESCO International (NYSE:WCC) had its price target hoisted by Loop Capital from $190.00 to $200.00 in a research note released on Monday, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other research firms have also recently issued reports on WCC. Robert W. Baird dropped their price objective on WESCO International from $203.00 to $170.00 and set an outperform rating for the company in a report on Wednesday, February 14th. StockNews.com upgraded shares of WESCO International from a hold rating to a buy rating in a report on Friday, May 3rd. Royal Bank of Canada decreased their price objective on shares of WESCO International from $176.00 to $172.00 and set a sector perform rating for the company in a report on Friday, May 3rd. KeyCorp upped their target price on shares of WESCO International from $190.00 to $205.00 and gave the stock an overweight rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of WESCO International from $180.00 to $175.00 and set an overweight rating for the company in a research note on Friday, March 15th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, WESCO International has an average rating of Moderate Buy and an average price target of $187.00.

WESCO International Trading Up 0.9 %

WCC stock opened at $175.22 on Monday. WESCO International has a twelve month low of $122.30 and a twelve month high of $195.43. The stock has a market capitalization of $8.93 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 1.19 and a beta of 2.07. The company has a quick ratio of 1.33, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. The firm’s fifty day simple moving average is $163.63 and its two-hundred day simple moving average is $160.97.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.13). The firm had revenue of $5.35 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.75 earnings per share. As a group, analysts anticipate that WESCO International will post 14.12 earnings per share for the current year.

WESCO International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.4125 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.65 annualized dividend and a dividend yield of 0.94%. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s payout ratio is currently 13.74%.

Insider Transactions at WESCO International

In related news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of WESCO International stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the transaction, the insider now directly owns 2,134,683 shares of the company’s stock, valued at $369,342,852.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 2,134,683 shares of the company’s stock, valued at $369,342,852.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the completion of 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. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Several institutional investors have recently bought and sold shares of WCC. KB Financial Partners LLC grew its stake in WESCO International by 76.8% during the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after buying an additional 86 shares during the last quarter. FDx Advisors Inc. grew its stake in shares of WESCO International by 7.3% during the third quarter. FDx Advisors Inc. now owns 1,555 shares of the technology company’s stock worth $224,000 after acquiring an additional 106 shares during the last quarter. Rise Advisors LLC acquired a new position in shares of WESCO International during the first quarter valued at about $26,000. Anchor Investment Management LLC purchased a new position in shares of WESCO International in the 4th quarter valued at approximately $48,000. Finally, GAMMA Investing LLC purchased a new stake in WESCO International during the 4th quarter worth approximately $56,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).