WESCO International (NYSE:WCC) Upgraded at Barclays

Barclays upgraded shares of WESCO International (NYSE:WCC) to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Several other equities analysts also recently commented on the company. Wall Street Zen upgraded WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Raymond James Financial reiterated a “strong-buy” rating and issued a $240.00 price objective (up previously from $230.00) on shares of WESCO International in a research note on Friday, August 1st. Oppenheimer upped their price objective on WESCO International from $225.00 to $255.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. JPMorgan Chase & Co. increased their target price on WESCO International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research report on Thursday, September 4th. Finally, Stephens cut WESCO International from an “overweight” rating to an “equal weight” rating and lifted their price target for the company from $190.00 to $200.00 in a research report on Wednesday, July 16th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $235.20.

WESCO International Price Performance

Shares of NYSE WCC opened at $222.00 on Tuesday. WESCO International has a twelve month low of $125.21 and a twelve month high of $228.35. The stock’s 50 day moving average price is $214.27 and its 200-day moving average price is $187.56. The company has a market capitalization of $10.80 billion, a PE ratio of 17.38, a PEG ratio of 1.73 and a beta of 1.79. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.08. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the previous year, the business earned $3.21 EPS. The company’s revenue was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate that WESCO International will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th were issued a $0.4538 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.82 annualized dividend and a dividend yield of 0.8%. WESCO International’s dividend payout ratio is presently 14.25%.

Insider Transactions at WESCO International

In other news, EVP Akash Khurana sold 7,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $208.12, for a total value of $1,456,840.00. Following the transaction, the executive vice president owned 34,062 shares of the company’s stock, valued at approximately $7,088,983.44. This represents a 17.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO John Engel sold 51,051 shares of the company’s stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $226.17, for a total transaction of $11,546,204.67. Following the completion of the transaction, the chief executive officer directly owned 475,971 shares in the company, valued at approximately $107,650,361.07. The trade was a 9.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,131 shares of company stock valued at $30,384,421. Corporate insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. First Horizon Advisors Inc. increased its stake in WESCO International by 129.7% in the second quarter. First Horizon Advisors Inc. now owns 232 shares of the technology company’s stock valued at $43,000 after acquiring an additional 131 shares during the last quarter. Whittier Trust Co. increased its stake in WESCO International by 46.8% in the first quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock valued at $43,000 after acquiring an additional 89 shares during the last quarter. GAMMA Investing LLC increased its stake in WESCO International by 27.7% in the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company’s stock valued at $74,000 after acquiring an additional 104 shares during the last quarter. Parallel Advisors LLC increased its stake in WESCO International by 13.4% in the second quarter. Parallel Advisors LLC now owns 507 shares of the technology company’s stock valued at $94,000 after acquiring an additional 60 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in WESCO International by 95.6% in the second quarter. EverSource Wealth Advisors LLC now owns 753 shares of the technology company’s stock valued at $139,000 after acquiring an additional 368 shares during the last quarter. Institutional investors own 93.75% of the company’s stock.

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).