WESCO International (NYSE:WCC) Stock: Insider Anthony Marino Acquires 341 Shares

WESCO International, Inc. (NYSE:WCC) EVP Anthony Marino acquired 341 shares of the stock in a transaction dated Friday, November 6th. The shares were purchased at an average price of $292.97 per share, for a total transaction of $99,902.77. Following the completion of the transaction, the executive vice president owned 1,363 shares of the company’s stock, valued at $399,318.11. This trade represents a 33.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

WESCO International Stock Performance

Shares of NYSE WCC opened at $316.61 on Wednesday. WESCO International, Inc. has a one year low of $240.55 and a one year high of $388.64. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 19.65, a PEG ratio of 1.72 and a beta of 1.55. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. The business has a fifty day simple moving average of $346.92 and a 200 day simple moving average of $328.24.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, October 29th. The technology company reported $5.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.69 by $1.08. WESCO International had a return on equity of 16.27% and a net margin of 3.04%. The firm had revenue of $7.23 billion during the quarter, compared to analyst estimates of $6.87 billion. During the same period in the prior year, the company posted $3.92 earnings per share. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. Sell-side analysts expect that WESCO International, Inc. will post 18.39 EPS for the current year.

WESCO International Announces Dividend

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

Analyst Ratings Changes

WCC has been the subject of a number of analyst reports. Royal Bank Of Canada lifted their target price on shares of WESCO International from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Stephens raised WESCO International from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $350.00 to $400.00 in a research note on Tuesday, July 14th. Zacks Research downgraded WESCO International from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Wall Street Zen upgraded WESCO International from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Finally, Weiss Ratings cut WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $403.86.

Institutional Investors Weigh In On WESCO International

Several large investors have recently bought and sold shares of WCC. Sequoia Financial Advisors LLC increased its position in shares of WESCO International by 28.8% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 23,336 shares of the technology company’s stock valued at $8,061,000 after buying an additional 5,224 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in WESCO International during the 2nd quarter worth $8,338,000. BlackRock Inc. acquired a new stake in WESCO International during the 2nd quarter worth $3,094,634,000. Bank of America Corp DE bought a new position in WESCO International during the second quarter worth about $296,304,000. Finally, Hsbc Holdings PLC bought a new position in WESCO International during the second quarter worth about $8,745,000. Institutional investors own 93.75% of the company’s stock.

About WESCO International

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.