WESCO International, Inc. (NYSE:WCC - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday following a stronger than expected earnings report. The stock traded as high as $370.00 and last traded at $347.5430, with a volume of 4866 shares trading hands. The stock had previously closed at $305.27.
The technology company reported $3.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.82 by $0.55. The business had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.85 billion. WESCO International had a net margin of 2.72% and a return on equity of 13.00%. The company's revenue was up 13.8% on a year-over-year basis. During the same period last year, the business earned $2.21 EPS. WESCO International has set its FY 2026 guidance at 15.000-17.000 EPS.
WESCO International Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, March 13th. This is an increase from WESCO International's previous quarterly dividend of $0.45. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. WESCO International's dividend payout ratio is 15.31%.
Analyst Ratings Changes
WCC has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on shares of WESCO International from $260.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, January 16th. Weiss Ratings downgraded WESCO International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, April 6th. KeyCorp set a $340.00 price objective on WESCO International in a report on Wednesday, February 11th. Royal Bank Of Canada lifted their target price on shares of WESCO International from $316.00 to $335.00 and gave the company an "outperform" rating in a report on Wednesday, February 11th. Finally, Wall Street Zen cut shares of WESCO International from a "buy" rating to a "hold" rating in a research note on Saturday, January 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $276.00.
Check Out Our Latest Stock Analysis on WESCO International
Insider Buying and Selling at WESCO International
In related news, EVP Diane Lazzaris sold 17,294 shares of the business's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $305.00, for a total value of $5,274,670.00. Following the completion of the transaction, the executive vice president owned 29,065 shares of the company's stock, valued at approximately $8,864,825. The trade was a 37.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Daniel J. Castillo purchased 1,400 shares of WESCO International stock in a transaction on Tuesday, March 31st. The shares were acquired at an average cost of $266.06 per share, for a total transaction of $372,484.00. Following the purchase, the executive vice president owned 15,300 shares in the company, valued at approximately $4,070,718. This trade represents a 10.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 20,114 shares of company stock valued at $6,128,353 in the last ninety days. Corporate insiders own 3.30% of the company's stock.
Hedge Funds Weigh In On WESCO International
A number of large investors have recently modified their holdings of the company. SG Americas Securities LLC boosted its stake in shares of WESCO International by 172.5% in the third quarter. SG Americas Securities LLC now owns 10,742 shares of the technology company's stock valued at $2,272,000 after purchasing an additional 6,800 shares during the period. Rhumbline Advisers increased its holdings in WESCO International by 4.9% in the third quarter. Rhumbline Advisers now owns 127,991 shares of the technology company's stock valued at $27,070,000 after buying an additional 5,961 shares during the last quarter. Regency Capital Management Inc. DE acquired a new stake in shares of WESCO International during the 3rd quarter valued at approximately $3,215,000. Impax Asset Management Group plc acquired a new stake in shares of WESCO International during the third quarter worth $1,082,000. Finally, Pacer Advisors Inc. bought a new position in WESCO International in the third quarter worth about $1,923,000. 93.75% of the stock is currently owned by hedge funds and other institutional investors.
WESCO International Trading Up 15.4%
The firm has a market cap of $17.14 billion, a P/E ratio of 26.90, a P/E/G ratio of 2.03 and a beta of 1.44. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.27 and a current ratio of 2.20. The firm has a fifty day moving average of $286.22 and a 200-day moving average of $271.44.
About WESCO International
(
Get Free Report)
WESCO International, Inc is a leading global distributor of electrical, industrial, communications and utility products, serving a diverse customer base across maintenance, repair and operations (MRO), original equipment manufacturing (OEM) and construction markets. The company offers a comprehensive portfolio of products ranging from power distribution and automation solutions to data communications, security systems and lighting controls. Through an extensive branch network, WESCO provides critical components and value‐added services that help organizations streamline operations and improve reliability in their facilities and infrastructure.
In addition to its broad product offering, WESCO delivers advanced supply chain management and logistics solutions designed to optimize inventory levels, reduce downtime and lower overall procurement costs.
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