WESCO International (NYSE:WCC) Stock Price Crosses Above 200-Day Moving Average - Here's Why

WESCO International, Inc. (NYSE:WCC - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $180.33 and traded as high as $220.80. WESCO International shares last traded at $217.84, with a volume of 551,708 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Stephens lowered shares of WESCO International from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $190.00 to $200.00 in a report on Wednesday, July 16th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $240.00 price target (up from $230.00) on shares of WESCO International in a report on Friday, August 1st. Loop Capital upped their price target 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. Oppenheimer upped their price target on shares of WESCO International from $225.00 to $255.00 and gave the company an "outperform" rating in a report on Friday. Finally, JPMorgan Chase & Co. upped their price target on shares of WESCO International from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, WESCO International currently has an average rating of "Buy" and a consensus target price of $232.67.

WESCO International Stock Performance

The firm's 50 day moving average price is $209.07 and its 200-day moving average price is $180.33. 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 firm has a market capitalization of $10.60 billion, a PE ratio of 17.06, a price-to-earnings-growth ratio of 1.69 and a beta of 1.81.

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 (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 business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same period in the prior year, the company posted $3.21 EPS. The company's revenue for the quarter was up 7.7% on a year-over-year basis. On average, research analysts expect that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

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

Insider Activity

In related news, EVP James Cameron sold 10,325 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $226.45, for a total transaction of $2,338,096.25. Following the completion of the transaction, the executive vice president owned 45,706 shares in the company, valued at $10,350,123.70. This represents a 18.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Engel sold 51,051 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $226.17, for a total transaction of $11,546,204.67. Following the transaction, the chief executive officer owned 475,971 shares of the company's stock, valued at approximately $107,650,361.07. This trade represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,457 shares of company stock worth $27,908,668. Company insiders own 3.10% of the company's stock.

Institutional Trading of WESCO International

A number of hedge funds have recently bought and sold shares of the business. Lazard Asset Management LLC raised its holdings in WESCO International by 1.4% in the 2nd quarter. Lazard Asset Management LLC now owns 4,006 shares of the technology company's stock valued at $740,000 after acquiring an additional 54 shares during the last quarter. Parallel Advisors LLC raised its holdings in WESCO International by 13.4% in the 2nd quarter. Parallel Advisors LLC now owns 507 shares of the technology company's stock valued at $94,000 after acquiring an additional 60 shares during the last quarter. Third Avenue Management LLC raised its holdings in WESCO International by 0.6% in the 1st quarter. Third Avenue Management LLC now owns 14,822 shares of the technology company's stock valued at $2,302,000 after acquiring an additional 83 shares during the last quarter. Greenleaf Trust raised its holdings in WESCO International by 3.7% in the 1st quarter. Greenleaf Trust now owns 2,360 shares of the technology company's stock valued at $367,000 after acquiring an additional 84 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in WESCO International by 46.8% in the 1st quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock valued at $43,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 93.75% of the company's stock.

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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