WESCO International, Inc. (NYSE:WCC) Receives $187.00 Average Target Price from Brokerages

WESCO International, Inc. (NYSE:WCC) has been given an average rating of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $187.00.

A number of analysts have recently issued reports on the stock. Robert W. Baird cut their target price on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Loop Capital lifted their price objective on shares of WESCO International from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Royal Bank of Canada dropped their price objective on shares of WESCO International from $176.00 to $172.00 and set a “sector perform” rating for the company in a research note on Friday, May 3rd. Finally, Oppenheimer lifted their price objective on shares of WESCO International from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd.

Insider Activity

In related news, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the sale, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the sale, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The sale 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 WESCO International stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the sale, the insider now directly owns 2,134,683 shares in the company, valued at $369,342,852.66. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

A number of institutional investors have recently added to or reduced their stakes in WCC. Lyrical Asset Management LP grew its holdings in WESCO International by 2,583.9% during the 4th quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock worth $133,040,000 after acquiring an additional 736,616 shares during the last quarter. River Road Asset Management LLC bought a new stake in WESCO International during the 4th quarter worth approximately $79,404,000. Russell Investments Group Ltd. grew its holdings in WESCO International by 74.8% during the 1st quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock worth $12,486,000 after acquiring an additional 31,200 shares during the last quarter. Hosking Partners LLP grew its holdings in WESCO International by 68.6% during the 1st quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock worth $10,889,000 after acquiring an additional 25,864 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of WESCO International in the 4th quarter valued at $3,177,000. 93.76% of the stock is owned by institutional investors.

WESCO International Stock Performance

Shares of WCC opened at $175.88 on Friday. The firm has a 50-day moving average of $164.10 and a 200-day moving average of $161.84. 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 market cap of $8.96 billion, a PE ratio of 14.64, a price-to-earnings-growth ratio of 1.24 and a beta of 2.07. WESCO International has a one year low of $122.30 and a one year high of $195.43.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The company had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.30 billion. WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.75 EPS. As a group, equities analysts forecast that WESCO International will post 14.22 earnings per share for the current year.

WESCO International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.4125 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from WESCO International’s previous quarterly dividend of $0.38. This represents a $1.65 annualized dividend and a dividend yield of 0.94%. WESCO International’s payout ratio is presently 13.74%.

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).