WESCO International (NYSE:WCC) Reaches New 52-Week High – What’s Next?

WESCO International, Inc. (NYSE:WCC) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $319.67 and last traded at $316.3510, with a volume of 14199 shares trading hands. The stock had previously closed at $299.49.

Wall Street Analyst Weigh In

WCC has been the subject of several recent research reports. Royal Bank Of Canada upgraded WESCO International from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $262.00 to $302.00 in a research note on Wednesday, November 19th. Barclays raised their price objective on shares of WESCO International from $274.00 to $302.00 and gave the company an “overweight” rating in a report on Monday, January 12th. Weiss Ratings reiterated a “hold (c+)” rating on shares of WESCO International in a research note on Wednesday, January 21st. JPMorgan Chase & Co. raised their price target on WESCO International from $260.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Finally, KeyCorp upped their price objective on WESCO International from $300.00 to $304.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $266.00.

WESCO International Stock Performance

The firm has a fifty day simple moving average of $271.82 and a 200-day simple moving average of $241.58. The company has a quick ratio of 1.20, a current ratio of 2.09 and a debt-to-equity ratio of 1.18. The company has a market cap of $15.46 billion, a PE ratio of 24.95, a price-to-earnings-growth ratio of 2.00 and a beta of 1.45.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were issued a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Friday, December 12th. WESCO International’s payout ratio is presently 14.20%.

Insiders Place Their Bets

In other news, EVP Christine Ann Wolf sold 4,685 shares of the company’s stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $259.52, for a total value of $1,215,851.20. Following the completion of the sale, the executive vice president directly owned 30,195 shares of the company’s stock, valued at approximately $7,836,206.40. This represents a 13.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in WESCO International by 4.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 795,629 shares of the technology company’s stock worth $147,351,000 after buying an additional 36,843 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in shares of WESCO International by 19.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 686,630 shares of the technology company’s stock worth $145,222,000 after acquiring an additional 111,930 shares during the period. River Road Asset Management LLC raised its holdings in WESCO International by 56.0% during the second quarter. River Road Asset Management LLC now owns 605,918 shares of the technology company’s stock worth $112,216,000 after purchasing an additional 217,417 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in WESCO International by 1.5% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 373,520 shares of the technology company’s stock valued at $91,378,000 after purchasing an additional 5,490 shares during the period. Finally, Davis Selected Advisers boosted its holdings in WESCO International by 24.6% in the 4th quarter. Davis Selected Advisers now owns 364,502 shares of the technology company’s stock valued at $89,172,000 after purchasing an additional 71,932 shares in the last quarter. 93.75% of the stock is currently owned by hedge funds and other institutional investors.

About WESCO International

WESCO International, Inc is a leading global distributor of electrical, industrial, communications and utility products, serving a diverse customer base across maintenance, repair and operations (MRO), original equipment manufacturing (OEM) and construction markets. The company offers a comprehensive portfolio of products ranging from power distribution and automation solutions to data communications, security systems and lighting controls. Through an extensive branch network, WESCO provides critical components and value‐added services that help organizations streamline operations and improve reliability in their facilities and infrastructure.

In addition to its broad product offering, WESCO delivers advanced supply chain management and logistics solutions designed to optimize inventory levels, reduce downtime and lower overall procurement costs.