WESCO International (NYSE:WCC) Earns Overweight Rating from Stephens

Stephens restated their overweight rating on shares of WESCO International (NYSE:WCC) in a research report sent to investors on Monday, Benzinga reports. Stephens currently has a $190.00 target price on the technology company’s stock.

A number of other equities research analysts have also issued reports on the stock. Loop Capital boosted their price target on shares of WESCO International from $190.00 to $200.00 and gave the company a buy rating in a report on Monday, May 6th. Baird R W downgraded shares of WESCO International from a strong-buy rating to a hold rating in a research note on Wednesday, May 29th. Oppenheimer increased their target price on WESCO International from $190.00 to $200.00 and gave the company an outperform rating in a report on Friday, May 3rd. Robert W. Baird lowered their price target on WESCO International from $195.00 to $172.00 and set a neutral rating on the stock in a report on Friday, August 2nd. Finally, StockNews.com downgraded WESCO International from a buy rating to a hold rating in a research note on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $184.71.

WESCO International Price Performance

Shares of NYSE:WCC opened at $155.47 on Monday. The company has a market capitalization of $7.90 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 1.26 and a beta of 2.06. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28. The stock has a fifty day moving average of $166.05 and a 200-day moving average of $166.66. WESCO International has a one year low of $122.30 and a one year high of $195.43.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.27). The company had revenue of $5.48 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.71 earnings per share. As a group, equities analysts anticipate that WESCO International will post 12.1 EPS for the current fiscal year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Friday, June 14th. WESCO International’s dividend payout ratio (DPR) is presently 13.74%.

Insider Activity at WESCO International

In related news, EVP Christine Ann Wolf sold 4,486 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $190.13, for a total transaction of $852,923.18. Following the transaction, the executive vice president now owns 30,304 shares of the company’s stock, valued at $5,761,699.52. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Matthew S. Kulasa sold 474 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $191.69, for a total value of $90,861.06. Following the completion of the sale, the chief accounting officer now directly owns 3,555 shares in the company, valued at $681,457.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christine Ann Wolf sold 4,486 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $190.13, for a total value of $852,923.18. Following the transaction, the executive vice president now owns 30,304 shares in the company, valued at $5,761,699.52. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System grew its holdings in WESCO International by 30.7% during the fourth quarter. New York State Teachers Retirement System now owns 26,278 shares of the technology company’s stock valued at $4,569,000 after purchasing an additional 6,170 shares during the last quarter. Scissortail Wealth Management LLC bought a new stake in shares of WESCO International during the 4th quarter worth $825,000. River Road Asset Management LLC bought a new position in WESCO International in the 4th quarter worth $79,404,000. GAMMA Investing LLC acquired a new position in WESCO International during the 4th quarter worth $56,000. Finally, Russell Investments Group Ltd. boosted its holdings in WESCO International by 5.2% during the fourth quarter. Russell Investments Group Ltd. now owns 41,697 shares of the technology company’s stock valued at $7,251,000 after acquiring an additional 2,079 shares during the period. Institutional investors and hedge funds own 93.76% of the company’s stock.

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).