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

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

WESCO International Stock Up 8.1%

Shares of NYSE:WCC opened at $316.25 on Tuesday. The company’s fifty day moving average is $347.40 and its 200-day moving average is $328.11. 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, Inc. has a 52 week low of $240.55 and a 52 week high of $388.64. The company has a market capitalization of $15.41 billion, a PE ratio of 19.63, a P/E/G ratio of 1.72 and a beta of 1.55.

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

WESCO International Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in WESCO International during the 2nd quarter worth about $3,094,634,000. Bank of America Corp DE bought a new position in shares of WESCO International in the second quarter worth about $296,304,000. Bank of New York Mellon Corp bought a new position in shares of WESCO International in the second quarter worth about $249,503,000. Alyeska Investment Group L.P. raised its stake in shares of WESCO International by 16.2% in the second quarter. Alyeska Investment Group L.P. now owns 653,591 shares of the technology company’s stock worth $225,770,000 after acquiring an additional 91,321 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of WESCO International during the second quarter worth approximately $175,189,000. Institutional investors and hedge funds own 93.75% of the company’s stock.

Analyst Ratings Changes

WCC has been the subject of a number of research analyst reports. Weiss Ratings cut shares of WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Wall Street Zen raised WESCO International from a “hold” rating to a “buy” rating in a report on Saturday, October 24th. Barclays increased their price target on WESCO International from $390.00 to $437.00 and gave the stock an “overweight” rating in a research report on Monday, October 12th. Royal Bank Of Canada raised their price target on WESCO International from $435.00 to $450.00 and gave the company an “outperform” rating in a report on Friday, October 30th. Finally, Stephens upgraded WESCO International from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $350.00 to $400.00 in a research report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.