WESCO International (NYSE:WCC) Stock Breaks Above 50-Day Moving Average – Here’s What Happened

WESCO International, Inc. (NYSE:WCC) shares passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $350.64 and traded as high as $353.99. WESCO International shares last traded at $351.9120, with a volume of 843,660 shares changing hands.

Analyst Ratings Changes

WCC has been the topic of a number of research reports. Wall Street Zen raised WESCO International from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Zacks Research downgraded WESCO International from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Royal Bank Of Canada lifted their target price on WESCO International from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Barclays boosted their target price on shares of WESCO International from $390.00 to $437.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Finally, Weiss Ratings downgraded shares of WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.33.

WESCO International Trading Up 4.9%

The company has a debt-to-equity ratio of 1.10, a current ratio of 2.01 and a quick ratio of 1.19. The business’s 50-day moving average price is $350.64 and its two-hundred day moving average price is $327.68. The company has a market capitalization of $17.15 billion, a price-to-earnings ratio of 21.84, a P/E/G ratio of 1.82 and a beta of 1.55.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 29th. The technology company reported $5.77 earnings per share (EPS) for the quarter, beating 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 return on equity of 16.27% and a net margin of 3.04%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.92 earnings per share. Research analysts predict that WESCO International, Inc. will post 18.41 earnings per share for the current year.

WESCO International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were issued a $0.50 dividend. 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 currently 12.41%.

Insiders Place Their Bets

In other news, EVP Akash Khurana sold 3,400 shares of WESCO International stock in a transaction 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 transaction, the executive vice president owned 27,404 shares in the company, valued at approximately $10,051,239.12. This trade represents a 11.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Laura K. Thompson sold 270 shares of the business’s stock in a transaction on 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 directly owned 10,720 shares of the company’s stock, valued at $3,949,784. This trade represents a 2.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of WESCO International

Several large investors have recently bought and sold shares of WCC. Bell Investment Advisors Inc bought a new position in WESCO International in the second quarter valued at about $26,000. Transamerica Financial Advisors LLC bought a new position in shares of WESCO International in the second quarter worth about $27,000. Burkett Financial Services LLC bought a new position in shares of WESCO International in the third quarter worth about $32,000. Reyes Financial Architecture Inc. acquired a new stake in shares of WESCO International in the 3rd quarter valued at approximately $35,000. Finally, Jones Financial Companies Lllp acquired a new stake in shares of WESCO International in the 2nd quarter valued at approximately $36,000. 93.75% of the stock is owned by institutional investors and hedge funds.

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.