WESCO International (NYSE:WCC) Price Target Raised to $225.00 at Oppenheimer

WESCO International (NYSE:WCC) had its price target upped by Oppenheimer from $205.00 to $225.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other brokerages have also recently commented on WCC. Royal Bank of Canada upped their price target on shares of WESCO International from $171.00 to $187.00 and gave the company a “sector perform” 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 report on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and set a $190.00 price target on shares of WESCO International in a research report on Monday, August 5th. KeyCorp increased their target price on shares of WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Robert W. Baird upped their price objective on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $206.71.

WESCO International Stock Performance

Shares of WCC traded down $3.80 during midday trading on Friday, reaching $188.17. 927,268 shares of the stock were exchanged, compared to its average volume of 736,339. The company has a quick ratio of 1.34, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. WESCO International has a twelve month low of $131.38 and a twelve month high of $195.99. The stock’s 50 day simple moving average is $168.15 and its 200 day simple moving average is $167.47. The company has a market cap of $9.25 billion, a P/E ratio of 15.07, a PEG ratio of 1.59 and a beta of 2.01.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.49 EPS. On average, sell-side analysts expect that WESCO International will post 12.04 earnings per share for the current year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Friday, September 13th. WESCO International’s dividend payout ratio is 13.21%.

Insider Buying and Selling at WESCO International

In related news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, the director now owns 27,004 shares in the company, valued at $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the sale, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at $10,377,990. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On WESCO International

Several institutional investors have recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. grew its position in shares of 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 purchasing an additional 69 shares in the last quarter. 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 buying an additional 98 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of WESCO International by 65.4% in the 2nd 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. Greenleaf Trust grew its position in WESCO International by 4.8% in the third quarter. Greenleaf Trust now owns 2,401 shares of the technology company’s stock worth $403,000 after acquiring an additional 111 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new stake in WESCO International during the third quarter worth approximately $28,000. Institutional investors own 93.76% of the company’s stock.

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).