Wesco International CEO Sells $4,058,000 in Stock (WCC)
Wesco International (NYSE:WCC) CEO John Engel sold 50,000 shares of Wesco International stock on the open market in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $81.16, for a total value of $4,058,000.00. Following the completion of the transaction, the chief executive officer now directly owns 67,287 shares in the company, valued at approximately $5,461,013. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Wesco International (NYSE:WCC) traded down 0.49% on Thursday, hitting $80.60. 614,398 shares of the company’s stock traded hands. Wesco International has a 52-week low of $64.26 and a 52-week high of $94.75. The stock’s 50-day moving average is $88.95 and its 200-day moving average is $81.43. The company has a market cap of $4.288 billion and a P/E ratio of 15.44.
Wesco International (NYSE:WCC) last released its earnings data on Friday, January 31st. The company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by $0.06. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.91 billion. Analysts expect that Wesco International will post $5.53 EPS for the current fiscal year.
A number of analysts have recently weighed in on WCC shares. Analysts at MKM Partners downgraded shares of Wesco International from a “buy” rating to a “neutral” rating in a research note to investors on Monday. They now have a $90.00 price target on the stock, down previously from $95.00. They noted that the move was a valuation call. Separately, analysts at BB&T Corp. cut their price target on shares of Wesco International from $115.00 to $105.00 in a research note to investors on Friday, January 31st. Finally, analysts at Janney Montgomery Scott cut their price target on shares of Wesco International from $88.00 to $86.00 in a research note to investors on Friday, January 31st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Wesco International presently has an average rating of “Buy” and an average target price of $92.90.
WESCO International, Inc (NYSE:WCC) is a distributor of products and provider of supply chain management and logistics services used primarily in industrial, construction, utility and commercial, institutional and government (CIG) markets.
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