WESCO International (NYSE:WCC) Reaches New 12-Month High Following Analyst Upgrade

Shares of WESCO International, Inc. (NYSE:WCC) reached a new 52-week high during mid-day trading on Wednesday after Stephens raised their price target on the stock from $190.00 to $205.00. Stephens currently has an overweight rating on the stock. WESCO International traded as high as $208.89 and last traded at $208.89, with a volume of 83136 shares traded. The stock had previously closed at $187.81.

Other equities analysts also recently issued research reports about the company. Oppenheimer increased their price target on WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird increased their target price on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Loop Capital boosted their price target on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Baird R W upgraded shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $208.86.

Insider Activity

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the transaction, the director now directly owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the sale, the director now directly owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nelson John Squires III sold 10,000 shares of WESCO International stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the transaction, the executive vice president now owns 54,621 shares in the company, valued at approximately $10,377,990. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

Institutional Trading of WESCO International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its stake in 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 worth $26,000 after acquiring an additional 69 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of WESCO International during the 3rd quarter worth about $28,000. GAMMA Investing LLC raised its holdings in WESCO International by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares during the period. UMB Bank n.a. lifted its position in WESCO International by 18.3% in the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after buying an additional 98 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in WESCO International during the second quarter worth about $152,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

WESCO International Trading Up 13.2 %

The business’s 50-day simple moving average is $169.02 and its two-hundred day simple moving average is $168.12. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 1.52 and a beta of 2.01. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter last year, the firm earned $4.49 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Equities analysts forecast that WESCO International, Inc. will post 12.18 earnings per share for the current year.

WESCO International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s payout ratio is 13.21%.

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).