WESCO International, Inc. (NYSE:WCC) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• The consensus rating for WESCO International, Inc. (NYSE:WCC) is a "Moderate Buy", with eleven analysts participating, including six buy ratings and three hold ratings.
• WESCO International has recently experienced insider activity, with executives selling a total of 136,131 shares worth approximately $30.38 million over the last three months.
• The company declared a quarterly dividend of $0.4538 per share, resulting in an annualized dividend of $1.82 and a yield of 0.8%.

Shares of WESCO International, Inc. (NYSE:WCC - Get Free Report) have received a consensus rating of "Moderate Buy" from the eleven analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $237.20.

WCC has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of WESCO International from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Stephens downgraded shares of WESCO International from an "overweight" rating to an "equal weight" rating and lifted their price objective for the company from $190.00 to $200.00 in a report on Wednesday, July 16th. Loop Capital lifted their price objective on shares of WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Barclays initiated coverage on shares of WESCO International in a report on Wednesday, October 8th. They issued an "overweight" rating and a $258.00 price objective on the stock. Finally, KeyCorp lifted their price objective on shares of WESCO International from $240.00 to $258.00 and gave the company an "overweight" rating in a report on Friday, August 29th.

Insider Activity

In other WESCO International news, EVP Hemant Porwal sold 4,656 shares of the company's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $224.84, for a total transaction of $1,046,855.04. Following the sale, the executive vice president directly owned 19,141 shares of the company's stock, valued at approximately $4,303,662.44. This represents a 19.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Diane Lazzaris sold 4,260 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $226.77, for a total transaction of $966,040.20. Following the sale, the executive vice president directly owned 52,916 shares in the company, valued at $11,999,761.32. This trade represents a 7.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 136,131 shares of company stock valued at $30,384,421. 3.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WESCO International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in WESCO International by 4.9% during the second quarter. Bank of New York Mellon Corp now owns 795,629 shares of the technology company's stock worth $147,351,000 after purchasing an additional 36,843 shares during the period. River Road Asset Management LLC boosted its position in WESCO International by 56.0% during the second quarter. River Road Asset Management LLC now owns 605,918 shares of the technology company's stock worth $112,216,000 after purchasing an additional 217,417 shares during the period. Pacer Advisors Inc. boosted its position in WESCO International by 6,769.8% during the first quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock worth $70,862,000 after purchasing an additional 449,648 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in WESCO International during the second quarter worth $75,136,000. Finally, Ameriprise Financial Inc. boosted its position in WESCO International by 21.2% during the first quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company's stock worth $48,001,000 after purchasing an additional 54,046 shares during the period. 93.75% of the stock is owned by institutional investors.

WESCO International Stock Performance

Shares of WCC stock opened at $218.37 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. The company has a market capitalization of $10.63 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 1.70 and a beta of 1.79. The company's 50 day moving average price is $215.22 and its two-hundred day moving average price is $189.43. WESCO International has a 52 week low of $125.21 and a 52 week high of $228.35.

WESCO International (NYSE:WCC - Get Free Report) last announced its earnings results on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, topping the consensus estimate of $3.31 by $0.08. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same period last year, the company posted $3.21 EPS. The business's quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts expect that WESCO International will post 13.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th were given a dividend of $0.4538 per share. This represents a $1.82 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, September 12th. WESCO International's dividend payout ratio is 14.25%.

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).

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