Key Points
- CFO Indraneel Dev bought 1,725 WESCO shares for $503,527.50 at an average price of $291.90, increasing his stake by 10.21% to 18,621 shares.
- WESCO reported quarterly EPS of $5.77, beating the $4.69 consensus, while revenue of $7.23 billion topped estimates and rose 16.6% year over year.
- Analysts give WESCO a consensus “Moderate Buy” rating, with an average price target of $403.86; eight analysts rate it Buy and one rates it Hold.
WESCO International, Inc. (NYSE:WCC - Get Free Report) CFO Indraneel Dev acquired 1,725 shares of the firm's stock in a transaction on Thursday, November 5th. The stock was purchased at an average price of $291.90 per share, for a total transaction of $503,527.50. Following the completion of the transaction, the chief financial officer directly owned 18,621 shares in the company, valued at approximately $5,435,469.90. The trade was a 10.21% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
WESCO International Stock Up 8.1%
NYSE WCC opened at $316.25 on Tuesday. The stock has a fifty day moving average of $347.40 and a 200-day moving average of $328.11. The stock has a market capitalization of $15.41 billion, a P/E ratio of 19.63, a price-to-earnings-growth ratio of 1.72 and a beta of 1.55. WESCO International, Inc. has a 52 week low of $240.55 and a 52 week high of $388.64. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.19 and a current ratio of 2.01.
WESCO International (NYSE:WCC - Get Free Report) last released its earnings results on Thursday, October 29th. The technology company reported $5.77 earnings per share for the quarter, topping 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 the consensus estimate of $6.87 billion. During the same quarter in the previous year, the company posted $3.92 earnings per share. The firm's quarterly revenue was up 16.6% on a year-over-year basis. On average, equities research analysts forecast that WESCO International, Inc. will post 18.39 EPS for the current year.
WESCO International Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, September 11th. WESCO International's dividend payout ratio (DPR) is presently 12.41%.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in WCC. Bell Investment Advisors Inc bought a new position in shares of WESCO International in the 2nd quarter worth $26,000. Transamerica Financial Advisors LLC bought a new stake in WESCO International in the second quarter valued at about $27,000. Burkett Financial Services LLC bought a new stake in WESCO International in the third quarter valued at about $32,000. Reyes Financial Architecture Inc. bought a new stake in WESCO International in the third quarter valued at about $35,000. Finally, Jones Financial Companies Lllp acquired a new position in WESCO International in the second quarter valued at about $36,000. Institutional investors and hedge funds own 93.75% of the company's stock.
Analysts Set New Price Targets
Several analysts have weighed in on WCC shares. Barclays boosted their price objective on WESCO International from $390.00 to $437.00 and gave the stock an "overweight" rating in a report on Monday, October 12th. Zacks Research lowered shares of WESCO International from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 19th. Wall Street Zen upgraded shares of WESCO International from a "hold" rating to a "buy" rating in a research report on Saturday, October 24th. Weiss Ratings cut shares of WESCO International from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, October 23rd. Finally, Royal Bank Of Canada boosted their price target on shares of WESCO International from $435.00 to $450.00 and gave the stock an "outperform" rating in a research note on Friday, October 30th. Eight analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $403.86.
Get Our Latest Analysis on WCC
About WESCO International
(
Get Free Report)
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.
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