WESCO International (NYSE:WCC) Stock: Insider Indraneel Dev Buys 1,725 Shares

Key Points

• CFO Indraneel Dev bought 1,725 WESCO shares at an average price of $291.90, investing about $503,528 and increasing his holdings by 10.21% to 18,621 shares.
• WESCO reported quarterly EPS of $5.77, beating the $4.69 consensus, and revenue of $7.23 billion, up 16.6% year over year.
• Analyst sentiment was broadly positive: eight analysts rated the stock Buy and one Hold, with a consensus price target of $403.86.

WESCO International, Inc. (NYSE:WCC - Get Free Report) CFO Indraneel Dev acquired 1,725 shares of the firm's stock in a transaction that occurred on Thursday, November 5th. The shares were purchased at an average price of $291.90 per share, with a total value of $503,527.50. Following the acquisition, the chief financial officer owned 18,621 shares of the company's stock, valued at approximately $5,435,469.90. This trade represents a 10.21% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

WESCO International Trading Up 8.1%

NYSE:WCC traded up $23.57 during trading hours on Monday, hitting $316.25. The stock had a trading volume of 862,868 shares, compared to its average volume of 616,056. The business's 50 day moving average is $347.80 and its 200-day moving average is $327.95. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.19 and a current ratio of 2.01. The company has a market cap of $15.41 billion, a price-to-earnings ratio of 19.63, a P/E/G ratio of 1.59 and a beta of 1.55. WESCO International, Inc. has a one year low of $240.55 and a one year high of $388.64.

WESCO International (NYSE:WCC - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The technology company reported $5.77 earnings per share for the quarter, topping analysts' consensus estimates of $4.69 by $1.08. WESCO International had a net margin of 3.04% and a return on equity of 16.27%. The company had revenue of $7.23 billion for the quarter, compared to analysts' expectations of $6.87 billion. During the same period last year, the firm posted $3.92 earnings per share. The business's quarterly revenue was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that WESCO International, Inc. will post 18.39 EPS for the current fiscal year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, September 11th. This represents a $2.00 annualized dividend and a yield of 0.6%. WESCO International's payout ratio is currently 12.41%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Weiss Ratings downgraded WESCO International from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, October 23rd. Royal Bank Of Canada lifted their price objective on WESCO International from $435.00 to $450.00 and gave the company an "outperform" rating in a report on Friday, October 30th. Wall Street Zen upgraded WESCO International from a "hold" rating to a "buy" rating in a report on Saturday, October 24th. Stephens upgraded WESCO International from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $350.00 to $400.00 in a research report on Tuesday, July 14th. Finally, Barclays increased their target price on WESCO International from $390.00 to $437.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, WESCO International has an average rating of "Moderate Buy" and a consensus price target of $403.86.

Hedge Funds Weigh In On WESCO International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of WESCO International in the 2nd quarter valued at about $3,094,634,000. Bank of America Corp DE acquired a new position in shares of WESCO International during the second quarter worth about $296,304,000. Bank of New York Mellon Corp acquired a new position in shares of WESCO International during the second quarter worth about $249,503,000. Alyeska Investment Group L.P. boosted its position in shares of WESCO International by 16.2% during the second quarter. Alyeska Investment Group L.P. now owns 653,591 shares of the technology company's stock worth $225,770,000 after buying an additional 91,321 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of WESCO International during the second quarter worth about $175,189,000. 93.75% of the stock is owned by institutional investors and hedge funds.

About WESCO International

WESCO International is a business-to-business distributor of electrical, communications, utility and industrial products. Its offerings include wire and cable, lighting, electrical equipment, networking and security systems, and supplies used in maintenance, repair and operations.

The company also provides services such as procurement, inventory management, logistics, project support and supply-chain consulting. Its customers include contractors, manufacturers, utilities, communications providers, government organizations and commercial businesses.

WESCO serves customers in the United States and internationally.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.