WESCO International (NYSE:WCC) Hits New 12-Month High – Here’s Why

by · The Cerbat Gem

WESCO International, Inc. (NYSE:WCC – Get Free Report) hit a new 52-week high on Wednesday . The company traded as high as $277.94 and last traded at $276.4360, with a volume of 364539 shares trading hands. The stock had previously closed at $265.79.

Wall Street Analyst Weigh In

Several research firms recently weighed in on WCC. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of WESCO International in a report on Wednesday, October 8th. Wall Street Zen lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Barclays raised their price objective on shares of WESCO International from $258.00 to $274.00 and gave the company an “overweight” rating in a research note on Thursday, November 13th. KeyCorp upped their target price on WESCO International from $258.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, Royal Bank Of Canada upgraded WESCO International from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $262.00 to $302.00 in a research report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, WESCO International currently has an average rating of “Moderate Buy” and a consensus target price of $256.38.

Read Our Latest Stock Analysis on WESCO International

WESCO International Stock Performance

The company has a debt-to-equity ratio of 1.18, a current ratio of 2.09 and a quick ratio of 1.20. The company has a market capitalization of $13.45 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 2.03 and a beta of 1.47. The firm’s fifty day simple moving average is $242.53 and its 200 day simple moving average is $215.17.

WESCO International (NYSE:WCC – Get Free Report) last released its earnings results on Thursday, October 30th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.75 by $0.17. WESCO International had a return on equity of 13.12% and a net margin of 2.81%.The company had revenue of $6.20 billion during the quarter, compared to analyst estimates of $5.91 billion. During the same quarter in the prior year, the company earned $3.58 earnings per share. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. WESCO International has set its FY 2025 guidance at 13.100-13.600 EPS. On average, sell-side analysts forecast that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th will be paid a dividend of $0.4538 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.7%. WESCO International’s dividend payout ratio (DPR) is 14.20%.

Insider Activity at WESCO International

In other news, EVP Christine Ann Wolf sold 4,685 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $259.52, for a total value of $1,215,851.20. Following the transaction, the executive vice president directly owned 30,195 shares of the company’s stock, valued at approximately $7,836,206.40. This represents a 13.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Matthew S. Kulasa sold 790 shares of WESCO International stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $253.18, for a total value of $200,012.20. Following the sale, the chief accounting officer directly owned 3,320 shares of the company’s stock, valued at approximately $840,557.60. The trade was a 19.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 30,816 shares of company stock valued at $7,411,204. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On WESCO International

Several large investors have recently made changes to their positions in WCC. Bank of New York Mellon Corp increased its holdings in WESCO International by 4.9% in the second quarter. Bank of New York Mellon Corp now owns 795,629 shares of the technology company’s stock worth $147,351,000 after buying an additional 36,843 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in WESCO International by 19.5% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 686,630 shares of the technology company’s stock worth $145,222,000 after acquiring an additional 111,930 shares in the last quarter. River Road Asset Management LLC increased its stake in shares of WESCO International by 56.0% during the 2nd quarter. River Road Asset Management LLC now owns 605,918 shares of the technology company’s stock worth $112,216,000 after purchasing an additional 217,417 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in shares of WESCO International during the 2nd quarter worth $75,136,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of WESCO International by 6.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 324,068 shares of the technology company’s stock valued at $68,541,000 after purchasing an additional 19,056 shares in the last quarter. Institutional investors own 93.75% of the company’s stock.

About WESCO International

(Get Free Report)

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).

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