WESCO International (NYSE:WCC) Hits New 52-Week High – Here’s What Happened

WESCO International, Inc. (NYSE:WCC) shares reached a new 52-week high on Monday . The stock traded as high as $213.90 and last traded at $213.29, with a volume of 7927 shares traded. The stock had previously closed at $209.86.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WCC shares. Robert W. Baird boosted their target price on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Oppenheimer raised their target price on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. KeyCorp boosted their target price on shares of WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada upped their target price on WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Finally, Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, WESCO International currently has a consensus rating of “Buy” and a consensus target price of $208.86.

WESCO International Trading Up 1.9 %

The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99. The company has a 50 day moving average of $181.86 and a 200 day moving average of $172.16. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 1.72 and a beta of 2.01.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. The business 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 firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter last year, the company posted $4.49 EPS. As a group, research analysts anticipate that WESCO International, Inc. will post 12.22 EPS for the current year.

WESCO International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s dividend payout ratio is currently 13.21%.

Insider Transactions at WESCO International

In related news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the transaction, the director now owns 27,004 shares in the company, valued at $4,632,806.24. The trade was a 17.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nelson John Squires III sold 10,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 54,621 shares in the company, valued at $10,377,990. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,586 shares of company stock worth $6,565,762. Insiders own 3.10% of the company’s stock.

Institutional Trading of WESCO International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. grew its position in shares of WESCO International by 71.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after buying an additional 69 shares during the period. V Square Quantitative Management LLC bought a new position in WESCO International in the third quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in 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 during the period. UMB Bank n.a. raised its position 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 acquiring an additional 98 shares during the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of WESCO International in the 2nd quarter valued at $152,000. 93.76% of the stock is currently 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).