WESCO International, Inc. (NYSE:WCC) Receives Average Recommendation of “Buy” from Brokerages

Shares of WESCO International, Inc. (NYSE:WCC) have been given an average rating of “Buy” by the six analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $189.86.

A number of brokerages recently weighed in on WCC. Oppenheimer lowered their target price on shares of WESCO International from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. StockNews.com raised shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, November 3rd. KeyCorp decreased their price target on shares of WESCO International from $210.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, August 4th. JPMorgan Chase & Co. raised shares of WESCO International from a “neutral” rating to an “overweight” rating and set a $180.00 price target for the company in a research note on Friday, October 6th. Finally, Royal Bank of Canada decreased their price target on shares of WESCO International from $214.00 to $189.00 and set an “outperform” rating for the company in a research note on Friday, August 4th.

Institutional Investors Weigh In On WESCO International

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in WESCO International by 116.3% during the second quarter. Bank of New York Mellon Corp now owns 413,063 shares of the technology company’s stock worth $73,963,000 after purchasing an additional 222,092 shares during the last quarter. Rhumbline Advisers boosted its holdings in WESCO International by 165.2% during the second quarter. Rhumbline Advisers now owns 134,385 shares of the technology company’s stock worth $24,063,000 after purchasing an additional 83,703 shares during the last quarter. Braun Stacey Associates Inc. boosted its holdings in WESCO International by 89.2% during the first quarter. Braun Stacey Associates Inc. now owns 151,224 shares of the technology company’s stock worth $23,370,000 after purchasing an additional 71,289 shares during the last quarter. American International Group Inc. boosted its holdings in WESCO International by 12,007.8% during the second quarter. American International Group Inc. now owns 68,046 shares of the technology company’s stock worth $12,184,000 after purchasing an additional 67,484 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in WESCO International by 28.9% during the first quarter. Eagle Asset Management Inc. now owns 244,975 shares of the technology company’s stock worth $37,858,000 after purchasing an additional 54,875 shares during the last quarter. 99.15% of the stock is owned by institutional investors.

WESCO International Price Performance

Shares of NYSE WCC opened at $146.93 on Friday. WESCO International has a twelve month low of $117.12 and a twelve month high of $185.23. The firm has a fifty day simple moving average of $141.55 and a 200 day simple moving average of $151.79. The company has a market capitalization of $7.51 billion, a PE ratio of 9.80, a P/E/G ratio of 0.89 and a beta of 2.01. The company has a quick ratio of 1.39, a current ratio of 2.36 and a debt-to-equity ratio of 1.10.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 1.02%. The ex-dividend date was Thursday, September 14th. WESCO International’s payout ratio is presently 10.01%.

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).