WESCO International (NYSE:WCC) Stock Price Up 3.5% – Here’s What Happened

WESCO International, Inc. (NYSE:WCC) rose 3.5% on Friday . The stock traded as high as $173.22 and last traded at $172.64. Approximately 75,416 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 691,127 shares. The stock had previously closed at $166.75.

Analyst Upgrades and Downgrades

WCC has been the subject of several analyst reports. Stephens restated an “overweight” rating and issued a $190.00 price objective on shares of WESCO International in a report on Monday, August 5th. StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Loop Capital raised their price objective on 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 raised their price objective on WESCO International from $171.00 to $187.00 and gave the company a “sector perform” rating in a report on Friday, September 27th. Finally, Robert W. Baird reduced their price target on WESCO International from $195.00 to $172.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $189.86.

WESCO International Price Performance

The company’s 50-day simple moving average is $161.45 and its 200-day simple moving average is $166.48. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.34. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 13.57, a P/E/G ratio of 1.37 and a beta of 2.03.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share (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 analyst estimates of $5.55 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The company’s revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business earned $3.71 earnings per share. Research analysts forecast that WESCO International, Inc. will post 12.14 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given 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 0.94%. WESCO International’s payout ratio is 12.81%.

Insider Activity

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 value of $998,307.64. Following the completion of the sale, the director now directly owns 27,004 shares in the company, valued at approximately $4,632,806.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On WESCO International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rise Advisors LLC acquired a new stake in shares of WESCO International in the first quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. lifted its stake 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 worth $26,000 after purchasing an additional 69 shares during the last quarter. GAMMA Investing LLC lifted its stake in WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares during the last quarter. UMB Bank n.a. lifted its stake in WESCO International by 18.3% during the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after purchasing an additional 98 shares during the last quarter. Finally, Innealta Capital LLC bought a new stake in WESCO International during the second quarter worth $152,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).