WESCO International (NYSE:WCC) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of WESCO International (NYSE:WCC) from a buy rating to a hold rating in a research note published on Thursday morning.

A number of other equities analysts have also recently issued reports on WCC. Royal Bank of Canada increased their price objective on shares of WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. Robert W. Baird increased their price target on shares of WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. KeyCorp increased their target price on WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Stephens upped their price target on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $215.88.

WESCO International Stock Down 0.5 %

WCC stock opened at $183.21 on Thursday. WESCO International has a twelve month low of $132.37 and a twelve month high of $216.17. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The company has a market cap of $8.98 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.55 and a beta of 2.02. The business’s 50-day simple moving average is $195.33 and its 200 day simple moving average is $175.53.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.36. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. WESCO International’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $4.49 EPS. On average, research analysts anticipate that WESCO International will post 12.3 earnings per share for the current year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.4125 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.90%. WESCO International’s dividend payout ratio (DPR) is presently 13.21%.

Insider Buying and Selling

In other news, CFO David S. Schulz sold 14,938 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the completion of the sale, the chief financial officer now owns 104,471 shares in the company, valued at $21,578,485.05. The trade was a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the transaction, the executive vice president now owns 54,621 shares in the company, valued at approximately $10,377,990. This represents a 15.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,767 shares of company stock worth $5,567,454 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WCC. Thompson Siegel & Walmsley LLC raised its stake in shares of WESCO International by 341.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock worth $43,420,000 after buying an additional 199,975 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in WESCO International by 142.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock worth $5,050,000 after acquiring an additional 17,682 shares during the period. Geode Capital Management LLC raised its position in shares of WESCO International by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock valued at $128,143,000 after acquiring an additional 22,080 shares during the last quarter. Clearbridge Investments LLC acquired a new position in shares of WESCO International in the 2nd quarter valued at $52,782,000. Finally, Heritage Wealth Management Inc. bought a new position in shares of WESCO International in the 2nd quarter worth $723,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

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).