WESCO International, Inc. (NYSE:WCC) Announces $0.41 Quarterly Dividend

WESCO International, Inc. (NYSE:WCC) announced a quarterly dividend on Monday, December 2nd,RTT News reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.4125 per share by the technology company on Tuesday, December 31st. This represents a $1.65 dividend on an annualized basis and a yield of 0.78%.

WESCO International has a dividend payout ratio of 11.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect WESCO International to earn $13.89 per share next year, which means the company should continue to be able to cover its $1.65 annual dividend with an expected future payout ratio of 11.9%.

WESCO International Trading Down 0.1 %

Shares of NYSE WCC traded down $0.11 during trading on Tuesday, reaching $211.96. The stock had a trading volume of 41,910 shares, compared to its average volume of 699,302. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. The company has a market cap of $10.39 billion, a P/E ratio of 16.98, a PEG ratio of 1.73 and a beta of 2.01. WESCO International has a fifty-two week low of $132.37 and a fifty-two week high of $216.17. The business’s 50-day moving average price is $186.13 and its 200-day moving average price is $173.27.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the firm earned $4.49 earnings per share. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, equities research analysts predict that WESCO International will post 12.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WCC shares. Royal Bank of Canada upped their price objective on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Loop Capital increased their price target on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Robert W. Baird upped their target price on shares of WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Baird R W upgraded shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Finally, Stephens increased their price objective on shares of WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, WESCO International presently has an average rating of “Buy” and a consensus target price of $208.86.

Insider Activity at WESCO International

In other news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the sale, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. This represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David S. Schulz sold 14,938 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total value of $3,085,443.90. Following the completion of the transaction, the chief financial officer now owns 104,471 shares in the company, valued at $21,578,485.05. This trade represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,586 shares of company stock valued at $6,565,762 over the last ninety days. Insiders own 3.10% of the company’s stock.

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).