WESCO International (NYSE:WCC) Hits New 12-Month High – Still a Buy?

WESCO International, Inc. (NYSE:WCC) reached a new 52-week high on Thursday . The stock traded as high as $195.99 and last traded at $194.86, with a volume of 361322 shares. The stock had previously closed at $177.80.

Wall Street Analyst Weigh In

WCC has been the topic of a number of research analyst reports. Stephens reaffirmed an “overweight” rating and issued a $190.00 target price on shares of WESCO International in a report on Monday, August 5th. Loop Capital lifted their target price on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Robert W. Baird raised WESCO International from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $522.00 to $550.00 in a research note on Wednesday, October 16th. Baird R W upgraded 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 upped their price objective on shares of WESCO International from $171.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Friday, September 27th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $243.86.

WESCO International Stock Performance

The company has a fifty day moving average price of $167.05 and a two-hundred day moving average price of $167.10. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.34. The company has a market capitalization of $9.59 billion, a P/E ratio of 15.03, a PEG ratio of 1.45 and a beta of 2.03.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.27). The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.71 earnings per share. Equities analysts forecast that WESCO International, Inc. will post 12.14 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.4125 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.85%. WESCO International’s payout ratio is 12.81%.

Insiders Place Their Bets

In other news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Institutional investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. boosted its position in WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. UMB Bank n.a. lifted its stake in WESCO International by 18.3% in the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after buying an additional 98 shares during the period. GAMMA Investing LLC boosted its holdings in shares of WESCO International by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares in the last quarter. Greenleaf Trust grew its position in shares of WESCO International by 4.8% during the 3rd quarter. Greenleaf Trust now owns 2,401 shares of the technology company’s stock worth $403,000 after buying an additional 111 shares during the period. Finally, V Square Quantitative Management LLC bought a new stake in shares of WESCO International in the 3rd quarter valued at $28,000. 93.76% of the stock is owned by institutional investors.

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).