WESCO International (NYSE:WCC) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• WESCO International's shares have surpassed their 200-day moving average, currently trading at $213.08, after reaching a high of $215.68 during the session.
• A mix of analysts have increased their price targets for WESCO International, with KeyCorp setting a new target of $258.00 and JPMorgan raising theirs to $225.00, reflecting positive market sentiment.
• The company recently announced a quarterly dividend of $0.4538 per share, resulting in an annualized yield of 0.9% and a dividend payout ratio of 14.25%.

Shares of WESCO International, Inc. (NYSE:WCC - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $188.58 and traded as high as $215.68. WESCO International shares last traded at $213.08, with a volume of 440,235 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on WCC. KeyCorp raised their target price on WESCO International from $240.00 to $258.00 and gave the company an "overweight" rating in a research note on Friday, August 29th. Loop Capital increased their price target on WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Wall Street Zen upgraded WESCO International from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Stephens lowered WESCO International from an "overweight" rating to an "equal weight" rating and lifted their price target for the company from $190.00 to $200.00 in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. raised their price objective on WESCO International from $205.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $235.20.

WESCO International Trading Up 2.3%

The company has a current ratio of 2.09, a quick ratio of 1.19 and a debt-to-equity ratio of 1.19. The firm has a market cap of $10.37 billion, a price-to-earnings ratio of 16.69, a price-to-earnings-growth ratio of 1.60 and a beta of 1.79. The company has a 50 day moving average of $214.47 and a 200 day moving average of $188.58.

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. The company had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $5.82 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.The business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.21 earnings per share. As a group, research analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were issued a $0.4538 dividend. The ex-dividend date was Friday, September 12th. This represents a $1.82 annualized dividend and a yield of 0.9%. WESCO International's dividend payout ratio (DPR) is currently 14.25%.

Insiders Place Their Bets

In other WESCO International news, CFO David S. Schulz sold 12,227 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $225.17, for a total transaction of $2,753,153.59. Following the transaction, the chief financial officer owned 110,376 shares in the company, valued at approximately $24,853,363.92. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Akash Khurana sold 7,000 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $208.12, for a total value of $1,456,840.00. Following the transaction, the executive vice president owned 34,062 shares in the company, valued at approximately $7,088,983.44. This trade represents a 17.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,131 shares of company stock valued at $30,384,421 over the last 90 days. Corporate insiders own 3.10% of the company's stock.

Institutional Investors Weigh In On WESCO International

Several institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in WESCO International by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 795,629 shares of the technology company's stock valued at $147,351,000 after acquiring an additional 36,843 shares in the last quarter. River Road Asset Management LLC lifted its stake in WESCO International by 56.0% in the 2nd quarter. River Road Asset Management LLC now owns 605,918 shares of the technology company's stock valued at $112,216,000 after acquiring an additional 217,417 shares in the last quarter. Pacer Advisors Inc. lifted its stake in WESCO International by 6,769.8% in the 1st quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock valued at $70,862,000 after acquiring an additional 449,648 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in WESCO International during the second quarter valued at approximately $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 valued at $48,001,000 after purchasing an additional 54,046 shares during the last quarter. Institutional investors own 93.75% 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).

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