WESCO International (NYSE:WCC) Stock Rating Lowered by Stephens

Stephens lowered shares of WESCO International (NYSE:WCC - Free Report) from an overweight rating to an equal weight rating in a research report sent to investors on Wednesday, MarketBeat.com reports. The brokerage currently has $200.00 price target on the technology company's stock, up from their previous price target of $190.00.

Several other equities research analysts have also recently issued reports on WCC. KeyCorp lifted their price objective on shares of WESCO International from $180.00 to $210.00 and gave the stock an "overweight" rating in a research report on Friday, June 13th. Oppenheimer decreased their price target on WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a report on Monday, May 5th. JPMorgan Chase & Co. dropped their price objective on WESCO International from $210.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, May 27th. Finally, Loop Capital decreased their target price on WESCO International from $250.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, WESCO International has an average rating of "Moderate Buy" and an average target price of $210.75.

WESCO International Trading Up 3.3%

NYSE WCC traded up $6.66 on Wednesday, reaching $205.83. The stock had a trading volume of 495,966 shares, compared to its average volume of 720,163. The company has a quick ratio of 1.23, a current ratio of 2.15 and a debt-to-equity ratio of 1.02. The stock has a fifty day moving average price of $179.01 and a two-hundred day moving average price of $173.83. WESCO International has a 12-month low of $125.21 and a 12-month high of $216.17. The firm has a market capitalization of $10.04 billion, a price-to-earnings ratio of 15.60, a P/E/G ratio of 1.53 and a beta of 1.83.

WESCO International (NYSE:WCC - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $2.21 earnings per share for the quarter, missing the consensus estimate of $2.23 by ($0.02). The firm had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.27 billion. WESCO International had a net margin of 3.30% and a return on equity of 13.40%. The business's revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.30 earnings per share. As a group, sell-side analysts forecast that WESCO International will post 13.3 EPS for the current fiscal year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, June 13th. WESCO International's dividend payout ratio is currently 13.77%.

Insider Buying and Selling

In other news, EVP Christine Ann Wolf sold 3,106 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $177.14, for a total transaction of $550,196.84. Following the completion of the sale, the executive vice president owned 30,181 shares in the company, valued at approximately $5,346,262.34. This represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.30% of the company's stock.

Institutional Trading of WESCO International

Several institutional investors and hedge funds have recently added to or reduced their stakes in WCC. Whittier Trust Co. increased its holdings in shares of WESCO International by 46.8% in the first quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock valued at $43,000 after purchasing an additional 89 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position in WESCO International by 43.5% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company's stock worth $48,000 after buying an additional 81 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of WESCO International by 21.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock valued at $69,000 after acquiring an additional 78 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of WESCO International by 27.7% during the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company's stock worth $74,000 after acquiring an additional 104 shares during the period. Finally, Millstone Evans Group LLC purchased a new position in WESCO International during the fourth quarter worth about $122,000. 93.76% of the stock is owned by hedge funds and other institutional investors.

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).