WESCO International (NYSE:WCC) Reaches New 1-Year High - Still a Buy?

Key Points

• WESCO International reached a new 52-week high share price of $218.25 during recent trading, with significant trading volume of 146,216 shares.
• Equity analysts have mixed ratings for WESCO, with three hold ratings, six buy ratings, and a consensus price target of $210.75.
• The company recently announced a quarterly dividend payout of $0.4538, translating to an annualized yield of 0.83% and a dividend payout ratio of 13.77%.

Shares of WESCO International, Inc. (NYSE:WCC - Get Free Report) reached a new 52-week high during mid-day trading on Monday . The company traded as high as $216.88 and last traded at $218.25, with a volume of 146216 shares traded. The stock had previously closed at $214.43.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WCC. Stephens cut WESCO International from an "overweight" rating to an "equal weight" rating and upped their target price for the stock from $190.00 to $200.00 in a report on Wednesday, July 16th. KeyCorp raised their target price on WESCO International from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday. Loop Capital lowered their price objective on WESCO International from $250.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 target price (up from $230.00) on shares of WESCO International in a report on Friday. Finally, JPMorgan Chase & Co. lowered their price target on shares of WESCO International from $210.00 to $180.00 and set an "overweight" rating for the company in a report on Tuesday, May 27th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $217.33.

WESCO International Trading Down 2.1%

The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 2.15. The firm has a market cap of $9.89 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.64 and a beta of 1.83. The firm has a 50 day simple moving average of $188.04 and a 200 day simple moving average of $176.05.

WESCO International (NYSE:WCC - Get Free Report) last posted its earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share for the quarter, topping analysts' consensus estimates of $3.31 by $0.08. WESCO International had a net margin of 3.30% and a return on equity of 13.40%. The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the prior year, the firm posted $3.21 EPS. WESCO International's revenue was up 7.7% on a year-over-year basis. On average, equities research analysts predict that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $0.4538 dividend. This represents a $1.82 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, June 13th. WESCO International's payout ratio is currently 13.69%.

Insider Activity

In other news, EVP Christine Ann Wolf sold 3,106 shares of WESCO International stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $177.14, for a total value of $550,196.84. Following the completion of the transaction, the executive vice president owned 30,181 shares of the company's stock, valued at $5,346,262.34. The trade was a 9.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WESCO International

Several institutional investors have recently added to or reduced their stakes in WCC. Parallel Advisors LLC raised its position in WESCO International by 13.4% during the second quarter. Parallel Advisors LLC now owns 507 shares of the technology company's stock valued at $94,000 after purchasing an additional 60 shares during the period. Covestor Ltd grew its stake in shares of WESCO International by 5.5% during the fourth quarter. Covestor Ltd now owns 1,198 shares of the technology company's stock valued at $216,000 after buying an additional 62 shares during the last quarter. Third Avenue Management LLC grew its stake in shares of WESCO International by 0.6% during the first quarter. Third Avenue Management LLC now owns 14,822 shares of the technology company's stock valued at $2,302,000 after buying an additional 83 shares during the last quarter. Greenleaf Trust grew its stake in shares of WESCO International by 3.7% during the first quarter. Greenleaf Trust now owns 2,360 shares of the technology company's stock valued at $367,000 after buying an additional 84 shares during the last quarter. Finally, Whittier Trust Co. grew its stake in shares of WESCO International by 46.8% during the first quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock valued at $43,000 after buying an additional 89 shares during the last quarter. Hedge funds and other 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).