WESCO International (NYSE:WCC) Stock Price Down 10.9% – What’s Next?

WESCO International, Inc. (NYSE:WCC)’s stock price was down 10.9% during mid-day trading on Wednesday. The company traded as low as $312.06 and last traded at $313.3630. 138,271 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 606,798 shares. The stock had previously closed at $351.61.

Analyst Ratings Changes

Several research analysts have commented on WCC shares. Royal Bank Of Canada boosted their price objective on shares of WESCO International from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. Wall Street Zen raised WESCO International from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Barclays lifted their price target on WESCO International from $390.00 to $437.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Zacks Research cut WESCO International from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Weiss Ratings downgraded WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $403.86.

WESCO International Trading Up 1.7%

The business’s 50 day simple moving average is $348.97 and its two-hundred day simple moving average is $327.87. The stock has a market cap of $14.20 billion, a P/E ratio of 18.04, a PEG ratio of 1.72 and a beta of 1.55. The company has a quick ratio of 1.19, a current ratio of 2.01 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 analysts’ consensus estimates of $4.69 by $1.08. WESCO International had a return on equity of 16.27% and a net margin of 3.04%. The company had revenue of $7.23 billion during the quarter, compared to analysts’ expectations of $6.87 billion. During the same period in the prior year, the company earned $3.92 EPS. WESCO International’s revenue was up 16.6% compared to the same quarter last year. As a group, analysts expect 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. Shareholders of record on Friday, September 11th were issued 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 0.7%. WESCO International’s payout ratio is presently 12.41%.

Insider Transactions at WESCO International

In other WESCO International news, EVP Akash Khurana sold 3,400 shares of the company’s stock in a transaction dated 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 sale, the executive vice president owned 27,404 shares in the company, valued at approximately $10,051,239.12. The trade was a 11.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Laura Thompson sold 270 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $368.45, for a total value of $99,481.50. Following the transaction, the director owned 10,720 shares of the company’s stock, valued at $3,949,784. This trade represents a 2.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of WCC. BlackRock Inc. bought a new position in shares of WESCO International during the 2nd quarter worth $3,094,634,000. Bank of America Corp DE bought a new stake in WESCO International in the 2nd quarter valued at about $296,304,000. Bank of New York Mellon Corp bought a new stake in WESCO International in the 2nd quarter valued at about $249,503,000. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in WESCO International in the 2nd quarter valued at about $175,189,000. Finally, Nykredit A S purchased a new stake in WESCO International during the second quarter valued at about $154,034,000. Institutional investors and hedge funds own 93.75% of the company’s stock.

About WESCO International

WESCO International, Inc is a business-to-business provider of electrical, communications, security, and supply chain solutions. The company distributes products used in electrical and electronic systems, including wire and cable, lighting, circuit protection, automation and control equipment, data communications infrastructure, security products, and other electrical and industrial supplies.

WESCO serves a broad range of customers, including electrical and data communications contractors, industrial companies, original equipment manufacturers, utilities, commercial and institutional businesses, government entities, and telecommunications providers.