WESCO International (NYSE:WCC) Stock: Insider Indraneel Dev Purchases 1,725 Shares

WESCO International, Inc. (NYSE:WCC) CFO Indraneel Dev purchased 1,725 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average price of $291.90 per share, for a total transaction of $503,527.50. Following the purchase, the chief financial officer directly owned 18,621 shares in the company, valued at $5,435,469.90. The trade was a 10.21% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

WESCO International Stock Up 0.0%

WCC stock opened at $316.61 on Wednesday. WESCO International, Inc. has a twelve month low of $240.55 and a twelve month high of $388.64. 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 firm has a market cap of $15.41 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.72 and a beta of 1.55. The business has a 50 day moving average of $346.92 and a 200 day moving average of $328.24.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, October 29th. The technology company reported $5.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.69 by $1.08. WESCO International had a return on equity of 16.27% and a net margin of 3.04%. The business had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $6.87 billion. During the same quarter in the previous year, the business earned $3.92 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. On average, research analysts forecast that WESCO International, Inc. will post 18.39 EPS for the current fiscal year.

WESCO International Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, September 11th. WESCO International’s payout ratio is currently 12.41%.

Analyst Upgrades and Downgrades

WCC has been the topic of several recent analyst reports. Zacks Research downgraded shares of WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Barclays lifted their target price on shares of WESCO International from $390.00 to $437.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Stephens upgraded shares of WESCO International from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $350.00 to $400.00 in a research note on Tuesday, July 14th. Weiss Ratings cut shares of WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Finally, Wall Street Zen raised shares of WESCO International from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $403.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WCC. BlackRock Inc. purchased a new stake in shares of WESCO International during the second quarter valued at $3,094,634,000. Bank of New York Mellon Corp raised its position in WESCO International by 10.3% in the 1st quarter. Bank of New York Mellon Corp now owns 907,473 shares of the technology company’s stock worth $248,303,000 after buying an additional 84,905 shares during the last quarter. Bank of America Corp DE bought a new position in WESCO International during the 2nd quarter valued at about $296,304,000. Alyeska Investment Group L.P. lifted its stake in WESCO International by 16.2% during the 2nd quarter. Alyeska Investment Group L.P. now owns 653,591 shares of the technology company’s stock valued at $225,770,000 after acquiring an additional 91,321 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of WESCO International during the 2nd quarter valued at about $175,189,000. 93.75% of the stock is owned by institutional investors.

WESCO International Company Profile

WESCO International is a business-to-business distributor of electrical, communications, utility and industrial products. Its offerings include wire and cable, lighting, electrical equipment, networking and security systems, and supplies used in maintenance, repair and operations. The company also provides services such as procurement, inventory management, logistics, project support and supply-chain consulting. Its customers include contractors, manufacturers, utilities, communications providers, government organizations and commercial businesses.