WESCO International (NYSE:WCC) Sets New 1-Year High Following Analyst Upgrade

WESCO International, Inc. (NYSE:WCC - Get Free Report) hit 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 trading hands. The stock had previously closed at $187.81.

A number of other research firms also recently commented on WCC. KeyCorp boosted their target price on WESCO International from $195.00 to $225.00 and gave the stock an "overweight" rating in a research report on Friday, November 1st. Robert W. Baird upped their price objective on WESCO International from $215.00 to $223.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Loop Capital raised their target price on shares of WESCO International from $190.00 to $210.00 and gave the company a "buy" rating in a report on Friday, September 27th. Baird R W raised shares of WESCO International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 16th. Finally, Royal Bank of Canada lifted their price objective on shares of WESCO International from $186.00 to $199.00 and gave the stock a "sector perform" rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, WESCO International currently has an average rating of "Buy" and a consensus price target of $208.86.

Insider Activity

In other news, Director Steven A. Raymund sold 5,819 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the transaction, the director now owns 27,004 shares of the company's stock, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Nelson John Squires III sold 10,000 shares of the firm's stock in a transaction dated Thursday, October 31st. The shares were 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 of the company's stock, valued at $10,377,990. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, the director now owns 27,004 shares of the company's stock, valued at $4,632,806.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On WESCO International

A number of institutional investors have recently modified their holdings of WCC. Pacer Advisors Inc. raised its holdings in shares of WESCO International by 23,727.4% in the second quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company's stock valued at $251,896,000 after acquiring an additional 1,582,379 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of WESCO International in the 2nd quarter valued at about $52,782,000. Neo Ivy Capital Management purchased a new stake in shares of WESCO International in the 2nd quarter worth approximately $5,916,000. Russell Investments Group Ltd. increased its holdings in WESCO International by 74.8% during the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company's stock valued at $12,486,000 after buying an additional 31,200 shares during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in WESCO International by 142.8% during the third quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company's stock valued at $5,050,000 after buying an additional 17,682 shares during the period. 93.76% of the stock is owned by hedge funds and other institutional investors.

WESCO International Stock Up 13.2 %

The business's 50 day moving average is $169.02 and its 200 day moving average is $168.12. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The company has a market cap of $10.45 billion, a P/E ratio of 16.96, a P/E/G ratio of 1.52 and a beta of 2.01.

WESCO International (NYSE:WCC - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping the consensus estimate of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the previous year, the company posted $4.49 EPS. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. As a group, equities analysts anticipate that WESCO International, Inc. will post 12.18 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Friday, September 13th. WESCO International's payout ratio is currently 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).