Robert W. Baird Issues Positive Forecast for WESCO International (NYSE:WCC) Stock Price

WESCO International (NYSE:WCC) had its target price increased by Robert W. Baird from $215.00 to $223.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

WCC has been the subject of several other reports. Loop Capital boosted their price objective on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 27th. Royal Bank of Canada boosted their target price on shares of WESCO International from $171.00 to $187.00 and gave the company a “sector perform” rating in a research note on Friday, September 27th. Stephens restated an “overweight” rating and issued a $190.00 price target on shares of WESCO International in a research note on Monday, August 5th. KeyCorp reduced their price objective on WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. 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 stock. Based on data from MarketBeat, WESCO International currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.71.

WESCO International Stock Down 2.0 %

Shares of WCC traded down $3.80 on Friday, hitting $188.17. 927,268 shares of the stock traded hands, compared to its average volume of 736,339. The company has a market capitalization of $9.25 billion, a PE ratio of 15.07, a P/E/G ratio of 1.59 and a beta of 2.01. WESCO International has a one year low of $131.38 and a one year high of $195.99. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.34 and a current ratio of 2.21. The business has a 50 day simple moving average of $168.15 and a 200 day simple moving average of $167.47.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the previous year, the business earned $4.49 earnings per share. The company’s revenue was down 2.7% on a year-over-year basis. As a group, equities analysts forecast that WESCO International will post 12.04 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. Stockholders of record on Friday, September 13th were paid a $0.4125 dividend. This represents a $1.65 annualized dividend and a dividend yield of 0.88%. The ex-dividend date was Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is currently 13.21%.

Insider Activity

In related news, EVP Nelson John Squires III sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the sale, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, the director now owns 27,004 shares in the company, valued at $4,632,806.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the transaction, the executive vice president now owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Institutional Trading of WESCO International

Hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of WESCO International by 71.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after purchasing an additional 69 shares during the last quarter. UMB Bank n.a. increased its stake in WESCO International by 18.3% in the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after acquiring an additional 98 shares during the last quarter. GAMMA Investing LLC raised 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 acquiring an additional 100 shares in the last quarter. Greenleaf Trust boosted 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 valued at $403,000 after acquiring an additional 111 shares during the last quarter. Finally, V Square Quantitative Management LLC purchased a new position in shares of WESCO International in the third quarter valued at $28,000. Hedge funds and other institutional investors 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).