WESCO International (NYSE:WCC) Given New $450.00 Price Target at Barclays

WESCO International (NYSE:WCC) had its price objective hoisted by Barclays from $437.00 to $450.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other analysts have also recently issued research reports about the company. Wall Street Zen raised WESCO International from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Zacks Research lowered WESCO International from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Royal Bank Of Canada upped their price objective on shares of WESCO International from $435.00 to $450.00 and gave the stock an “outperform” rating in a research report on Friday, October 30th. Stephens raised shares of WESCO International from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $350.00 to $400.00 in a research note on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Eight analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $405.71.

WESCO International Price Performance

WCC stock opened at $328.21 on Wednesday. The firm has a 50 day moving average of $346.87 and a 200-day moving average of $328.45. The firm has a market capitalization of $15.97 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.55. WESCO International has a 12 month low of $240.55 and a 12 month high of $388.64. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10.

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

WESCO International Announces Dividend

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

Insider Activity at WESCO International

In other news, CFO Indraneel Dev acquired 1,725 shares of the firm’s stock in a transaction that occurred on Thursday, November 5th. The shares were bought at an average cost of $291.90 per share, with a total value of $503,527.50. Following the acquisition, the chief financial officer owned 18,621 shares in the company, valued at approximately $5,435,469.90. This represents a 10.21% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Akash Khurana sold 3,400 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $366.78, for a total value of $1,247,052.00. Following the completion of the sale, the executive vice president owned 27,404 shares of the company’s stock, valued at $10,051,239.12. The trade was a 11.04% decrease in their position. The SEC filing for this sale provides additional information. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On WESCO International

A number of hedge funds have recently made changes to their positions in the business. Bell Investment Advisors Inc purchased a new position in WESCO International in the 2nd quarter worth $26,000. Transamerica Financial Advisors LLC purchased a new stake in WESCO International during the second quarter valued at about $27,000. Burkett Financial Services LLC purchased a new stake in WESCO International during the third quarter valued at about $32,000. Reyes Financial Architecture Inc. purchased a new stake in WESCO International during the third quarter valued at about $35,000. Finally, Jones Financial Companies Lllp bought a new position in shares of WESCO International during the second quarter valued at about $36,000. 93.75% of the stock is currently owned by institutional investors.

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.