WESCO International (NYSE:WCC) Price Target Raised to $245.00

WESCO International (NYSE:WCC) had its price target raised by Jefferies Financial Group from $225.00 to $245.00 in a research report sent to investors on Friday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the technology company’s stock.

Several other analysts also recently issued reports on the stock. Stephens upped their price target on shares of WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. KeyCorp increased their target price on WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Loop Capital raised their price target on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird lifted their price objective on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $213.38.

WESCO International Price Performance

Shares of NYSE:WCC opened at $206.67 on Friday. WESCO International has a 12 month low of $132.37 and a 12 month high of $216.17. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 1.68 and a beta of 2.01. The business’s 50 day simple moving average is $190.28 and its 200-day simple moving average is $174.10. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.36. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. WESCO International’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 earnings per share. As a group, equities analysts forecast that WESCO International will post 12.3 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.4125 per share. The ex-dividend date is Friday, December 13th. This represents a $1.65 annualized dividend and a yield of 0.80%. WESCO International’s dividend payout ratio (DPR) is presently 13.21%.

Insiders Place Their Bets

In other WESCO International news, CFO David S. Schulz sold 14,938 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 owns 104,471 shares of the company’s stock, valued at $21,578,485.05. This trade represents a 12.51 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total transaction of $582,010.17. Following the sale, the executive vice president now directly owns 35,063 shares of the company’s stock, valued at $7,213,510.99. This represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,586 shares of company stock valued at $6,565,762. Insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WESCO International

A number of large investors have recently modified their holdings of WCC. Whittier Trust Co. of Nevada Inc. increased its position in 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 purchasing an additional 69 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in shares of WESCO International during the 3rd quarter valued at $28,000. GAMMA Investing LLC boosted its position in shares of WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares during the period. UMB Bank n.a. boosted its holdings 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 period. Finally, Innealta Capital LLC acquired a new stake in WESCO International during the 2nd quarter valued at $152,000. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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).