WESCO International (NYSE:WCC) Upgraded to “Strong-Buy” at Baird R W

Baird R W upgraded shares of WESCO International (NYSE:WCC) from a hold rating to a strong-buy rating in a report released on Wednesday morning, Zacks.com reports.

Other equities research analysts also recently issued reports about the company. KeyCorp reduced their target price on WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Royal Bank of Canada upped their price objective on shares of WESCO International from $171.00 to $187.00 and gave the company a “sector perform” rating in a research note on Friday, September 27th. StockNews.com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Robert W. Baird upgraded shares of WESCO International from a “neutral” rating to an “outperform” rating and upped their price target for the company from $522.00 to $550.00 in a research report on Wednesday. Finally, Loop Capital raised their price objective on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $243.86.

WESCO International Price Performance

Shares of NYSE:WCC opened at $179.54 on Wednesday. The stock’s 50 day moving average price is $162.95 and its 200 day moving average price is $166.58. 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 cap of $8.83 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.45 and a beta of 2.03. WESCO International has a 12 month low of $122.30 and a 12 month high of $195.43.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing the consensus estimate of $3.48 by ($0.27). WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.55 billion. During the same quarter last year, the company earned $3.71 EPS. The company’s quarterly revenue was down 4.6% compared to the same quarter last year. Equities research analysts anticipate that WESCO International will post 12.14 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The business 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. The ex-dividend date was Friday, September 13th. This represents a $1.65 annualized dividend and a yield of 0.92%. WESCO International’s dividend payout ratio is presently 12.81%.

Insider Buying and Selling at WESCO International

In other news, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Rise Advisors LLC bought a new stake in shares of WESCO International in the 1st quarter valued at approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its position 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 valued at $26,000 after acquiring an additional 69 shares in the last quarter. GAMMA Investing LLC lifted its stake in WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. UMB Bank n.a. grew its position in WESCO International by 18.3% in the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after acquiring an additional 98 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of WESCO International during the 2nd quarter worth $152,000. 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).