WESCO International (NYSE:WCC) Given New $180.00 Price Target at JPMorgan Chase & Co.

WESCO International (NYSE:WCC) had its price target reduced by JPMorgan Chase & Co. from $210.00 to $180.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other research analysts have also issued research reports about the company. Wall Street Zen lowered WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Loop Capital reduced their target price on WESCO International from $250.00 to $220.00 and set a “buy” rating for the company in a report on Monday, May 12th. Oppenheimer reduced their target price on WESCO International from $225.00 to $195.00 and set an “outperform” rating for the company in a report on Monday, May 5th. Royal Bank of Canada lifted their target price on WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a report on Wednesday, February 12th. Finally, Stephens boosted their price objective on WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, WESCO International presently has a consensus rating of “Moderate Buy” and an average target price of $212.00.

WESCO International Trading Up 2.6%

NYSE WCC opened at $169.02 on Tuesday. The stock has a market capitalization of $8.25 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.45 and a beta of 1.92. WESCO International has a one year low of $125.21 and a one year high of $216.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27. The business’s fifty day moving average is $158.23 and its 200-day moving average is $177.53.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. The firm had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.27 billion. During the same period last year, the business posted $2.30 EPS. The company’s revenue was down .1% compared to the same quarter last year. Equities research analysts predict that WESCO International will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.4538 per share. This is an increase from WESCO International’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.82 dividend on an annualized basis and a yield of 1.07%. WESCO International’s dividend payout ratio (DPR) is presently 13.69%.

Institutional Trading of WESCO International

A number of hedge funds have recently bought and sold shares of WCC. Pacer Advisors Inc. lifted its position in WESCO International by 6,769.8% in the 1st quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company’s stock worth $70,862,000 after buying an additional 449,648 shares during the last quarter. Bank of New York Mellon Corp lifted its position in WESCO International by 88.2% in the first quarter. Bank of New York Mellon Corp now owns 758,786 shares of the technology company’s stock valued at $117,839,000 after purchasing an additional 355,570 shares during the last quarter. Ameriprise Financial Inc. lifted its position in WESCO International by 149.3% in the fourth quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company’s stock valued at $46,148,000 after purchasing an additional 152,727 shares during the last quarter. Handelsbanken Fonder AB lifted its position in WESCO International by 167.3% in the fourth quarter. Handelsbanken Fonder AB now owns 192,182 shares of the technology company’s stock valued at $34,777,000 after purchasing an additional 120,289 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in WESCO International by 62.9% in the fourth quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company’s stock valued at $38,906,000 after purchasing an additional 83,031 shares during the last quarter. Institutional investors own 93.76% 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).