WESCO International’s (WCC) “Overweight” Rating Reiterated at Stephens

Stephens reissued their overweight rating on shares of WESCO International (NYSE:WCC) in a report released on Monday morning, Benzinga reports. Stephens currently has a $190.00 target price on the technology company’s stock.

Several other brokerages also recently commented on WCC. Robert W. Baird lowered their price objective on WESCO International from $195.00 to $172.00 and set a neutral rating for the company in a research note on Friday, August 2nd. KeyCorp dropped their price objective on WESCO International from $205.00 to $195.00 and set an overweight rating on the stock in a research note on Friday, August 2nd. Royal Bank of Canada cut their price objective on shares of WESCO International from $175.00 to $171.00 and set a sector perform rating on the stock in a report on Friday, August 2nd. Oppenheimer increased their target price on shares of WESCO International from $190.00 to $200.00 and gave the company an outperform rating in a report on Friday, May 3rd. Finally, Loop Capital boosted their price target on shares of WESCO International from $190.00 to $200.00 and gave the stock a buy rating in a report on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $184.71.

WESCO International Price Performance

Shares of WCC opened at $155.47 on Monday. The stock has a market cap of $7.90 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.26 and a beta of 2.06. The business’s fifty day moving average is $166.05 and its 200 day moving average is $166.66. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. WESCO International has a 12-month low of $122.30 and a 12-month high of $195.43.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The business had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same quarter in the prior year, the business earned $3.71 earnings per share. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. Sell-side analysts anticipate that WESCO International will post 12.1 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Friday, June 14th. WESCO International’s payout ratio is 13.74%.

Insider Activity

In related news, CAO Matthew S. Kulasa sold 474 shares of WESCO International stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $191.69, for a total value of $90,861.06. Following the sale, the chief accounting officer now owns 3,555 shares of the company’s stock, valued at approximately $681,457.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Christine Ann Wolf sold 4,486 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $190.13, for a total transaction of $852,923.18. Following the completion of the transaction, the executive vice president now owns 30,304 shares in the company, valued at approximately $5,761,699.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew S. Kulasa sold 474 shares of the business’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $191.69, for a total value of $90,861.06. Following the completion of the sale, the chief accounting officer now owns 3,555 shares in the company, valued at $681,457.95. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WESCO International

Large investors have recently modified their holdings of the business. Rise Advisors LLC purchased a new stake in shares of WESCO International during the 1st quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its holdings in WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after acquiring an additional 69 shares during the period. GAMMA Investing LLC lifted its position in shares of 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 acquiring an additional 100 shares in the last quarter. Innealta Capital LLC bought a new position in shares of WESCO International in the second quarter worth $152,000. Finally, TimesSquare Capital Management LLC purchased a new position in shares of WESCO International in the first quarter valued at $463,000. Hedge funds and other institutional investors own 93.76% of the company’s stock.

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).