WESCO International (NYSE:WCC) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of WESCO International (NYSE:WCC) from a buy rating to a hold rating in a report published on Saturday morning.

Other equities research analysts have also issued research reports about the company. Loop Capital boosted their price objective on WESCO International from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Oppenheimer raised their price objective on shares of WESCO International from $225.00 to $255.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 target price (up from $230.00) on shares of WESCO International in a research report on Friday, August 1st. KeyCorp upped their price target on shares of WESCO International from $258.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Barclays initiated coverage on shares of WESCO International in a research note on Wednesday, October 8th. They set an “overweight” rating and a $258.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $248.89.

WESCO International Stock Performance

Shares of NYSE WCC traded down $2.68 during trading hours on Friday, reaching $254.70. 434,639 shares of the stock were exchanged, compared to its average volume of 703,649. The stock’s fifty day simple moving average is $222.00 and its 200 day simple moving average is $199.98. WESCO International has a 52 week low of $125.21 and a 52 week high of $263.37. The firm has a market capitalization of $12.39 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.77 and a beta of 1.79. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 30th. The technology company reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.75 by $0.17. The business had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $5.91 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.58 earnings per share. WESCO International has set its FY 2025 guidance at 13.100-13.600 EPS. Sell-side analysts predict that WESCO International will post 13.3 EPS for the current year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th were given a $0.4538 dividend. The ex-dividend date was Friday, September 12th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.7%. WESCO International’s payout ratio is 14.20%.

Insider Activity at WESCO International

In related news, EVP Diane Lazzaris sold 4,039 shares of WESCO International stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $258.42, for a total transaction of $1,043,758.38. Following the completion of the transaction, the executive vice president owned 45,401 shares of the company’s stock, valued at $11,732,526.42. This trade represents a 8.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew S. Kulasa sold 790 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $253.18, for a total transaction of $200,012.20. Following the sale, the chief accounting officer directly owned 3,320 shares in the company, valued at $840,557.60. This trade represents a 19.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 148,482 shares of company stock valued at $33,553,824 over the last 90 days. 3.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On WESCO International

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rothschild Investment LLC grew its stake in shares of WESCO International by 788.2% in the 3rd quarter. Rothschild Investment LLC now owns 151 shares of the technology company’s stock valued at $32,000 after buying an additional 134 shares during the period. Root Financial Partners LLC bought a new stake in shares of WESCO International during the third quarter valued at approximately $37,000. First Horizon Advisors Inc. raised its position in shares of WESCO International by 129.7% during the second quarter. First Horizon Advisors Inc. now owns 232 shares of the technology company’s stock worth $43,000 after purchasing an additional 131 shares during the period. Whittier Trust Co. lifted its holdings in shares of WESCO International by 46.8% in the 1st quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock worth $43,000 after purchasing an additional 89 shares in the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of WESCO International by 13.4% in the 2nd quarter. Parallel Advisors LLC now owns 507 shares of the technology company’s stock worth $94,000 after purchasing an additional 60 shares in the last quarter. 93.75% of the stock is owned by institutional investors.

About WESCO International

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).