Insider Buying: WESCO International (NYSE:WCC) EVP Purchases 341 Shares of Stock

WESCO International, Inc. (NYSE:WCC) EVP Anthony Marino bought 341 shares of WESCO International stock in a transaction that occurred on Friday, November 6th. The shares were acquired at an average cost of $292.97 per share, for a total transaction of $99,902.77. Following the acquisition, the executive vice president owned 1,363 shares in the company, valued at $399,318.11. The trade was a 33.37% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

WESCO International Trading Up 8.1%

WESCO International stock traded up $23.57 during mid-day trading on Monday, hitting $316.25. The company’s stock had a trading volume of 862,868 shares, compared to its average volume of 616,056. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.01 and a quick ratio of 1.19. The stock has a market cap of $15.41 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.59 and a beta of 1.55. The business has a 50 day moving average price of $347.80 and a 200-day moving average price of $327.95. WESCO International, Inc. has a 12 month low of $240.55 and a 12 month high of $388.64.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, October 29th. The technology company reported $5.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.69 by $1.08. WESCO International had a net margin of 3.04% and a return on equity of 16.27%. The business had revenue of $7.23 billion during the quarter, compared to analyst estimates of $6.87 billion. During the same period in the prior year, the business posted $3.92 earnings per share. The company’s revenue was up 16.6% on a year-over-year basis. As a group, analysts forecast that WESCO International, Inc. will post 18.39 EPS for the current year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, September 11th. WESCO International’s payout ratio is 12.41%.

Institutional Trading of WESCO International

A number of institutional investors have recently modified their holdings of the company. Intech Investment Management LLC increased its holdings in WESCO International by 14.9% during the 3rd quarter. Intech Investment Management LLC now owns 8,549 shares of the technology company’s stock valued at $3,074,000 after purchasing an additional 1,107 shares during the period. Hantz Financial Services Inc. raised its position in WESCO International by 7.0% during the 3rd quarter. Hantz Financial Services Inc. now owns 6,225 shares of the technology company’s stock valued at $2,238,000 after purchasing an additional 405 shares during the last quarter. Mawer Investment Management Ltd. raised its position in WESCO International by 7.9% during the 3rd quarter. Mawer Investment Management Ltd. now owns 80,501 shares of the technology company’s stock valued at $28,947,000 after purchasing an additional 5,885 shares during the last quarter. Diversified Trust Co bought a new stake in shares of WESCO International in the 3rd quarter worth approximately $848,000. Finally, Allworth Financial LP grew its position in shares of WESCO International by 8.0% in the 3rd quarter. Allworth Financial LP now owns 3,502 shares of the technology company’s stock worth $1,210,000 after buying an additional 258 shares during the last quarter. 93.75% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Stephens upgraded WESCO International from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $350.00 to $400.00 in a research report on Tuesday, July 14th. Barclays boosted their price objective on WESCO International from $390.00 to $437.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Wall Street Zen raised WESCO International from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Zacks Research cut shares of WESCO International from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Weiss Ratings downgraded shares of WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $403.86.

About WESCO International

WESCO International is a business-to-business distributor of electrical, communications, utility and industrial products. Its offerings include wire and cable, lighting, electrical equipment, networking and security systems, and supplies used in maintenance, repair and operations.

The company also provides services such as procurement, inventory management, logistics, project support and supply-chain consulting. Its customers include contractors, manufacturers, utilities, communications providers, government organizations and commercial businesses.

WESCO serves customers in the United States and internationally.