WESCO International’s (WCC) “Neutral” Rating Reiterated at Robert W. Baird

Robert W. Baird restated their neutral rating on shares of WESCO International (NYSE:WCC) in a report issued on Wednesday morning, MarketBeat reports. They currently have a $195.00 price objective on the technology company’s stock, down from their previous price objective of $200.00.

A number of other equities analysts have also recently weighed in on WCC. Oppenheimer increased their price objective on shares of WESCO International from $190.00 to $200.00 and gave the stock an outperform rating in a research report on Friday, May 3rd. StockNews.com upgraded WESCO International from a hold rating to a buy rating in a report on Friday, May 3rd. Loop Capital increased their price target on shares of WESCO International from $190.00 to $200.00 and gave the stock a buy rating in a research report on Monday, May 6th. KeyCorp lifted their price objective on shares of WESCO International from $190.00 to $205.00 and gave the company an overweight rating in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on WESCO International from $180.00 to $175.00 and set an overweight rating on the stock in a research note on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $191.17.

WESCO International Price Performance

Shares of WCC stock opened at $179.39 on Wednesday. The firm’s 50-day moving average is $171.11 and its two-hundred day moving average is $166.61. WESCO International has a 12 month low of $122.30 and a 12 month high of $195.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.33. The company has a market capitalization of $9.12 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 1.26 and a beta of 2.07.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.13). WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The business had revenue of $5.35 billion during the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the previous year, the company posted $3.75 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. Analysts predict that WESCO International will post 14.07 earnings per share for the current year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, June 14th. WESCO International’s dividend payout ratio (DPR) is 13.74%.

Insider Buying and Selling

In related news, EVP Christine Ann Wolf sold 4,486 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $190.13, for a total transaction of $852,923.18. Following the transaction, the executive vice president now owns 30,304 shares of the company’s stock, valued at $5,761,699.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other WESCO International news, EVP Christine Ann Wolf sold 4,486 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $190.13, for a total value of $852,923.18. Following the completion of the transaction, the executive vice president now owns 30,304 shares in the company, valued at $5,761,699.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total value of $302,785,000.00. Following the completion of the transaction, the insider now directly owns 2,134,683 shares of the company’s stock, valued at $369,342,852.66. The disclosure for this sale can be found here. Insiders sold a total of 1,760,312 shares of company stock worth $304,565,784 in the last 90 days. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On WESCO International

A number of institutional investors have recently modified their holdings of the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of WESCO International during the 4th quarter worth about $2,256,000. Amalgamated Bank increased its stake in WESCO International by 16.1% during the 3rd quarter. Amalgamated Bank now owns 34,221 shares of the technology company’s stock worth $4,922,000 after buying an additional 4,733 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in WESCO International by 2.6% in the third quarter. Thompson Siegel & Walmsley LLC now owns 54,985 shares of the technology company’s stock valued at $7,908,000 after purchasing an additional 1,390 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of WESCO International by 119.7% during the 3rd quarter. Van ECK Associates Corp now owns 15,871 shares of the technology company’s stock valued at $2,283,000 after buying an additional 8,647 shares during the last quarter. Finally, Hosking Partners LLP boosted its stake in WESCO International by 20.1% during the 3rd quarter. Hosking Partners LLP now owns 40,424 shares of the technology company’s stock valued at $5,814,000 after acquiring an additional 6,752 shares during the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

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).