Stephens Downgrades WESCO International (NYSE:WCC) to Equal Weight

Stephens cut shares of WESCO International (NYSE:WCC - Free Report) from an overweight rating to an equal weight rating in a research report report published on Wednesday, MarketBeat.com reports. They currently have $200.00 price target on the technology company's stock, up from their prior price target of $190.00.

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

WESCO International Stock Performance

NYSE WCC traded up $0.61 on Wednesday, reaching $205.95. 557,009 shares of the company's stock traded hands, compared to its average volume of 719,456. The firm has a market cap of $10.05 billion, a price-to-earnings ratio of 15.58, a P/E/G ratio of 1.59 and a beta of 1.83. The stock has a 50 day moving average price of $180.75 and a 200-day moving average price of $174.19. WESCO International has a fifty-two week low of $125.21 and a fifty-two week high of $216.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 2.15.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The technology company reported $2.21 earnings per share for the quarter, missing analysts' consensus estimates 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 return on equity of 13.40% and a net margin of 3.30%. The company's revenue was down .1% on a year-over-year basis. During the same quarter last year, the company posted $2.30 EPS. Equities research analysts predict that WESCO International will post 13.3 EPS for the current fiscal year.

WESCO International Announces Dividend

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

Insider Buying and Selling

In other WESCO International 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 value 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Whittier Trust Co. grew its position in WESCO International by 46.8% in the first quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock worth $43,000 after acquiring an additional 89 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in WESCO International by 43.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company's stock worth $48,000 after acquiring an additional 81 shares during the period. Parallel Advisors LLC grew its position in WESCO International by 21.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock worth $69,000 after acquiring an additional 78 shares during the period. GAMMA Investing LLC grew its position in WESCO International by 27.7% in 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 in the fourth quarter worth approximately $122,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).