WESCO International (NYSE:WCC) Shares Up 4.9% - Here's Why

WESCO International, Inc. (NYSE:WCC - Get Free Report) shares were up 4.9% during mid-day trading on Tuesday . The stock traded as high as $195.99 and last traded at $194.47. Approximately 584,908 shares changed hands during trading, a decline of 4% from the average daily volume of 607,698 shares. The stock had previously closed at $185.30.

Analysts Set New Price Targets

Several analysts have recently issued reports on WCC shares. KeyCorp increased their target price on WESCO International from $225.00 to $245.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Royal Bank of Canada increased their target price on WESCO International from $212.00 to $213.00 and gave the stock a "sector perform" rating in a report on Wednesday. Stephens increased their target price on WESCO International from $190.00 to $205.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. Robert W. Baird increased their target price on WESCO International from $215.00 to $223.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, StockNews.com downgraded WESCO International from a "buy" rating to a "hold" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, WESCO International presently has a consensus rating of "Moderate Buy" and a consensus target price of $217.63.

WESCO International Stock Up 1.6 %

The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29. The stock has a market capitalization of $9.65 billion, a P/E ratio of 15.76, a P/E/G ratio of 1.34 and a beta of 2.01. The firm has a 50-day simple moving average of $186.64 and a 200 day simple moving average of $179.92.

WESCO International (NYSE:WCC - Get Free Report) last posted its earnings results on Tuesday, February 11th. The technology company reported $3.16 EPS for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a net margin of 3.19% and a return on equity of 13.19%. On average, equities research analysts forecast that WESCO International, Inc. will post 12.3 EPS for the current year.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $0.4125 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.65 annualized dividend and a yield of 0.84%. WESCO International's dividend payout ratio is presently 13.21%.

Hedge Funds Weigh In On WESCO International

Large investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of WESCO International during the third quarter worth about $28,000. Greenleaf Trust raised its position in shares of WESCO International by 4.8% during the third quarter. Greenleaf Trust now owns 2,401 shares of the technology company's stock worth $403,000 after acquiring an additional 111 shares during the last quarter. Highland Capital Management LLC bought a new position in shares of WESCO International during the third quarter worth about $221,000. Farmers & Merchants Investments Inc. raised its position in shares of WESCO International by 1.5% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company's stock worth $32,753,000 after acquiring an additional 2,923 shares during the last quarter. Finally, EMC Capital Management raised its position in shares of WESCO International by 580.8% during the third quarter. EMC Capital Management now owns 16,094 shares of the technology company's stock worth $2,703,000 after acquiring an additional 13,730 shares during the last quarter. 93.76% of the stock is currently owned by institutional investors.

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).