WESCO International (NYSE:WCC) CFO Indraneel Dev Acquires 1,725 Shares of Stock

WESCO International, Inc. (NYSE:WCC) CFO Indraneel Dev purchased 1,725 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were acquired at an average cost of $291.90 per share, with a total value of $503,527.50. Following the completion of the purchase, the chief financial officer directly owned 18,621 shares in the company, valued at approximately $5,435,469.90. This represents a 10.21% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

WESCO International Stock Up 8.1%

Shares of NYSE WCC traded up $23.57 during midday trading on Monday, reaching $316.25. The company’s stock had a trading volume of 862,868 shares, compared to its average volume of 616,056. The stock has a 50 day simple moving average of $347.80 and a 200-day simple moving average of $327.95. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $15.41 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.59 and a beta of 1.55. WESCO International, Inc. has a fifty-two week low of $240.55 and a fifty-two week high of $388.64.

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

WESCO International Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC grew its holdings in shares of WESCO International by 28.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 23,336 shares of the technology company’s stock worth $8,061,000 after purchasing an additional 5,224 shares in the last quarter. Engineers Gate Manager LP acquired a new position in WESCO International in the second quarter valued at about $8,338,000. BlackRock Inc. acquired a new position in WESCO International in the second quarter valued at about $3,094,634,000. Bank of America Corp DE acquired a new position in WESCO International in the second quarter valued at about $296,304,000. Finally, Hsbc Holdings PLC bought a new stake in WESCO International during the second quarter worth about $8,745,000. 93.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on WCC. Zacks Research cut WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Stephens raised WESCO International from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $350.00 to $400.00 in a research report on Tuesday, July 14th. Royal Bank Of Canada increased their price objective on WESCO International from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Barclays raised their target price on shares of WESCO International from $390.00 to $437.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Finally, Wall Street Zen raised shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, WESCO International currently has a consensus rating of “Moderate Buy” and an average price target of $403.86.

WESCO International Company Profile

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.