Insider Buying: WESCO International, Inc. (NYSE:WCC) CFO Buys 4,000 Shares of Stock
WESCO International, Inc. (NYSE:WCC) CFO David S. Schulz acquired 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $51.57 per share, with a total value of $206,280.00. Following the completion of the acquisition, the chief financial officer now owns 9,000 shares of the company’s stock, valued at approximately $464,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of WESCO International, Inc. (NYSE:WCC) traded up 0.98% on Monday, hitting $51.60. The stock had a trading volume of 285,508 shares. The firm has a 50 day moving average of $54.96 and a 200-day moving average of $63.14. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of 24.47 and a beta of 1.77. WESCO International, Inc. has a 1-year low of $49.05 and a 1-year high of $76.15.
WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.04. The business had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.91 billion. WESCO International had a return on equity of 9.11% and a net margin of 1.41%. The business’s revenue was down .1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.02 EPS. Equities analysts predict that WESCO International, Inc. will post $3.75 earnings per share for the current year.
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A number of hedge funds have recently bought and sold shares of the stock. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in WESCO International during the first quarter valued at $146,000. Janney Capital Management LLC acquired a new position in WESCO International during the second quarter valued at about $202,000. D.A. Davidson & CO. raised its position in WESCO International by 32.0% in the second quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock valued at $204,000 after buying an additional 866 shares during the last quarter. Trust Co. of Vermont acquired a new position in WESCO International during the second quarter valued at about $229,000. Finally, Quantbot Technologies LP acquired a new position in WESCO International during the second quarter valued at about $238,000. 98.00% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently issued reports on WCC shares. Zacks Investment Research upgraded WESCO International from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Tuesday, May 30th. Credit Suisse Group set a $70.00 price target on WESCO International and gave the company a “buy” rating in a research note on Saturday, June 10th. Northcoast Research started coverage on WESCO International in a research note on Tuesday, July 25th. They issued a “buy” rating and a $70.00 price target for the company. Standpoint Research upgraded WESCO International from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Thursday, August 3rd. Finally, TheStreet downgraded WESCO International from a “b-” rating to a “c” rating in a research note on Wednesday, June 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company’s stock. WESCO International currently has an average rating of “Buy” and a consensus target price of $68.19.
WESCO International Company Profile
WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.
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