WESCO International (NYSE:WCC) Upgraded by Baird R W to Strong-Buy

Baird R W upgraded shares of WESCO International (NYSE:WCC) from a hold rating to a strong-buy rating in a research note released on Wednesday, Zacks.com reports.

WCC has been the topic of a number of other research reports. KeyCorp reduced their price target on WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada upped their target price on WESCO International from $171.00 to $187.00 and gave the company a “sector perform” rating in a report on Friday, September 27th. Loop Capital lifted their price target on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 27th. Stephens restated an “overweight” rating and issued a $190.00 price objective on shares of WESCO International in a report on Monday, August 5th. Finally, StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $243.86.

WESCO International Stock Performance

NYSE:WCC opened at $180.02 on Wednesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28. WESCO International has a fifty-two week low of $122.30 and a fifty-two week high of $195.43. The firm has a market cap of $9.15 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.45 and a beta of 2.03. The business has a 50 day moving average price of $163.94 and a 200-day moving average price of $166.68.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.27). WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The firm had revenue of $5.48 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same period in the previous year, the company earned $3.71 EPS. The company’s quarterly revenue was down 4.6% on a year-over-year basis. Equities research analysts predict that WESCO International will post 12.14 earnings per share for the current year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, September 13th. WESCO International’s dividend payout ratio is presently 13.74%.

Insider Activity at WESCO International

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the sale, the director now owns 27,004 shares in the company, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after buying an additional 69 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of WESCO International by 18.3% in the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after purchasing an additional 98 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the last quarter. Rise Advisors LLC purchased a new position in shares of WESCO International in the first quarter worth $26,000. Finally, V Square Quantitative Management LLC bought a new position in shares of WESCO International during the third quarter valued at $28,000. 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).