Baird R W Upgrades WESCO International (NYSE:WCC) to “Strong-Buy”

Baird R W upgraded shares of WESCO International (NYSE:WCC) from a hold rating to a strong-buy rating in a report released on Wednesday morning, Zacks.com reports.

WCC has been the topic of a number of other research reports. Stephens reissued an “overweight” rating and set a $190.00 price objective on shares of WESCO International in a report on Monday, August 5th. Royal Bank of Canada increased their price target on shares of WESCO International from $171.00 to $187.00 and gave the stock a “sector perform” rating in a report on Friday, September 27th. StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Robert W. Baird upgraded shares of WESCO International from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $522.00 to $550.00 in a research note on Wednesday. Finally, Loop Capital boosted their price target on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Two equities research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.86.

WESCO International Price Performance

WCC opened at $180.02 on Wednesday. The firm has a 50-day moving average price of $163.94 and a 200-day moving average price of $166.68. WESCO International has a twelve month low of $122.30 and a twelve month high of $195.43. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.45 and a beta of 2.03.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The business had revenue of $5.48 billion during 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 firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.71 earnings per share. Equities analysts expect that WESCO International will post 12.14 EPS for the current year.

WESCO International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is currently 13.74%.

Insider Transactions at WESCO International

In related news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the transaction, the director now owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On WESCO International

Hedge funds and other institutional investors have recently modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of WESCO International during the 1st quarter valued at about $26,000. Whittier Trust Co. of Nevada Inc. grew 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. V Square Quantitative Management LLC purchased a new position in shares of WESCO International during the third quarter worth approximately $28,000. GAMMA Investing LLC lifted its holdings in shares of WESCO International by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after acquiring an additional 100 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of WESCO International by 18.3% during the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after purchasing an additional 98 shares during the last quarter. 93.76% of the stock is currently 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).