WESCO International (NYSE:WCC) Sets New 52-Week High – What’s Next?

Shares of WESCO International, Inc. (NYSE:WCC) reached a new 52-week high during trading on Thursday . The company traded as high as $213.75 and last traded at $211.03, with a volume of 200966 shares. The stock had previously closed at $207.05.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Oppenheimer upped their price target on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stephens increased their price target on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. StockNews.com raised WESCO International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Loop Capital lifted their target price on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Finally, Robert W. Baird upped their price target on shares of WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $208.86.

WESCO International Stock Performance

The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The firm has a 50 day moving average price of $176.84 and a 200 day moving average price of $170.74. The stock has a market cap of $10.01 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.70 and a beta of 2.01.

WESCO International (NYSE:WCC) last announced 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. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The company’s revenue was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.49 EPS. As a group, research analysts forecast that WESCO International, Inc. will post 12.22 earnings per share for the current year.

WESCO International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 dividend yield of 0.81%. WESCO International’s dividend payout ratio is presently 13.21%.

Insider Buying and Selling

In other news, CFO David S. Schulz sold 14,938 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the transaction, the chief financial officer now directly owns 104,471 shares of the company’s stock, valued at approximately $21,578,485.05. This represents a 12.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP William Clayton Geary sold 2,829 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total value of $582,010.17. Following the sale, the executive vice president now owns 35,063 shares of the company’s stock, valued at approximately $7,213,510.99. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,586 shares of company stock worth $6,565,762 in the last three months. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in shares of WESCO International by 74.8% during the first 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. Harbor Capital Advisors Inc. increased its stake in WESCO International by 860.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 12,381 shares of the technology company’s stock valued at $1,963,000 after purchasing an additional 11,092 shares in the last quarter. Redwood Investment Management LLC purchased a new position in shares of WESCO International in the first quarter worth $639,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of WESCO International during the second quarter worth $676,000. Finally, Clearbridge Investments LLC acquired a new stake in shares of WESCO International during the second quarter worth $52,782,000. 93.76% of the stock is owned by institutional investors and hedge funds.

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).