WESCO International (NYSE:WCC) Stock Price Down 10.9% – What’s Next?

WESCO International, Inc. (NYSE:WCC)’s share price fell 10.9% during mid-day trading on Wednesday. The stock traded as low as $312.06 and last traded at $313.3630. 138,271 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 606,798 shares. The stock had previously closed at $351.61.

Analyst Upgrades and Downgrades

WCC has been the subject of several recent research reports. Barclays boosted their price objective on WESCO International from $390.00 to $437.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Weiss Ratings downgraded shares of WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Stephens raised shares of WESCO International from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $350.00 to $400.00 in a research note on Tuesday, July 14th. Zacks Research lowered shares of WESCO International from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Royal Bank Of Canada upped their target price on shares of WESCO International from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, WESCO International currently has an average rating of “Moderate Buy” and an average target price of $405.33.

WESCO International Stock Performance

The company has a quick ratio of 1.19, a current ratio of 2.01 and a debt-to-equity ratio of 1.10. The stock has a market cap of $15.39 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.82 and a beta of 1.55. The stock’s fifty day moving average is $350.64 and its 200-day moving average is $327.68.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, October 29th. The technology company reported $5.77 earnings per share for the quarter, topping the consensus estimate of $4.69 by $1.08. WESCO International had a net margin of 3.04% and a return on equity of 16.27%. The company had revenue of $7.23 billion for the quarter, compared to analyst estimates of $6.87 billion. During the same period last year, the business posted $3.92 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, analysts forecast that WESCO International, Inc. will post 18.41 EPS for the current year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, September 11th. WESCO International’s dividend payout ratio (DPR) is 12.41%.

Insider Buying and Selling

In related news, Director Laura Thompson sold 270 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $368.45, for a total transaction of $99,481.50. Following the transaction, the director directly owned 10,720 shares of the company’s stock, valued at approximately $3,949,784. The trade was a 2.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Akash Khurana sold 3,400 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $366.78, for a total transaction of $1,247,052.00. Following the completion of the transaction, the executive vice president owned 27,404 shares in the company, valued at approximately $10,051,239.12. This represents a 11.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On WESCO International

A number of large investors have recently bought and sold shares of WCC. BlackRock Inc. bought a new position in shares of WESCO International in the second quarter valued at about $3,094,634,000. Bank of America Corp DE bought a new position in WESCO International in the second quarter valued at approximately $296,304,000. Bank of New York Mellon Corp bought a new position in WESCO International during the second quarter worth about $249,503,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in WESCO International during the second quarter worth approximately $175,189,000. Finally, Nykredit A S bought a new stake in WESCO International in the 2nd quarter valued at about $154,034,000. 93.75% of the stock is currently owned by institutional investors and hedge funds.

WESCO International Company Profile

WESCO International, Inc is a business-to-business provider of electrical, communications, security, and supply chain solutions. The company distributes products used in electrical and electronic systems, including wire and cable, lighting, circuit protection, automation and control equipment, data communications infrastructure, security products, and other electrical and industrial supplies.

WESCO serves a broad range of customers, including electrical and data communications contractors, industrial companies, original equipment manufacturers, utilities, commercial and institutional businesses, government entities, and telecommunications providers.