WESCO International (NYSE:WCC) Stock Price Up 5.6%

WESCO International, Inc. (NYSE:WCC)’s share price was up 5.6% during mid-day trading on Friday . The stock traded as high as $174.90 and last traded at $174.75. Approximately 370,781 shares changed hands during trading, a decline of 46% from the average daily volume of 687,102 shares. The stock had previously closed at $165.48.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WCC. Robert W. Baird reiterated a “neutral” rating and set a $195.00 price target (down from $200.00) on shares of WESCO International in a report on Wednesday, May 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $172.00 target price on shares of WESCO International in a research note on Thursday, June 20th. JPMorgan Chase & Co. decreased their price objective on WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, March 15th. Baird R W downgraded WESCO International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, KeyCorp boosted their price target on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $191.17.

WESCO International Stock Performance

The stock has a market cap of $8.65 billion, a P/E ratio of 14.19, a price-to-earnings-growth ratio of 1.13 and a beta of 2.06. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.33. The company has a 50 day simple moving average of $172.07 and a 200-day simple moving average of $167.48.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.13). The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.30 billion. WESCO International had a net margin of 3.08% and a return on equity of 15.10%. WESCO International’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.75 earnings per share. On average, equities analysts expect that WESCO International, Inc. will post 14.07 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, June 14th. WESCO International’s dividend payout ratio is currently 13.74%.

Insider Activity at WESCO International

In related news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the completion of the sale, the insider now directly owns 2,134,683 shares in the company, valued at approximately $369,342,852.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Christine Ann Wolf sold 4,486 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $190.13, for a total transaction of $852,923.18. Following the completion of the transaction, the executive vice president now directly owns 30,304 shares of the company’s stock, valued at approximately $5,761,699.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total value of $302,785,000.00. Following the completion of the sale, the insider now directly owns 2,134,683 shares of the company’s stock, valued at $369,342,852.66. The disclosure for this sale can be found here. Insiders sold a total of 1,754,960 shares of company stock worth $303,728,784 in the last quarter. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On WESCO International

A number of large investors have recently modified their holdings of the business. Lyrical Asset Management LP boosted its holdings in shares of WESCO International by 2,583.9% during the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock worth $133,040,000 after purchasing an additional 736,616 shares during the last quarter. River Road Asset Management LLC acquired a new position in WESCO International in the fourth quarter worth about $79,404,000. Russell Investments Group Ltd. boosted its stake in WESCO International by 74.8% in the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock valued at $12,486,000 after acquiring an additional 31,200 shares during the period. Hosking Partners LLP boosted its position in shares of WESCO International by 68.6% during the first quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock worth $10,889,000 after buying an additional 25,864 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in WESCO International during the fourth quarter worth approximately $3,177,000. 93.76% of the stock is owned by hedge funds and other 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).