WESCO International (NYSE:WCC) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of WESCO International, Inc. (NYSE:WCC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $218.99 and traded as high as $255.70. WESCO International shares last traded at $244.45, with a volume of 908,672 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. KeyCorp raised their price target on WESCO International from $258.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Oppenheimer raised their target price on shares of WESCO International from $225.00 to $255.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. JPMorgan Chase & Co. lifted their target price on shares of WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. Wall Street Zen cut shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of WESCO International in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $256.38.

WESCO International Price Performance

The business has a 50 day moving average of $248.59 and a 200 day moving average of $218.99. The company has a market cap of $11.89 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 1.88 and a beta of 1.47. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.09 and a quick ratio of 1.20.

WESCO International (NYSE:WCC) last issued its quarterly earnings data 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 net margin of 2.81% and a return on equity of 13.12%. The business had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the previous year, the firm earned $3.58 EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. WESCO International has set its FY 2025 guidance at 13.100-13.600 EPS. As a group, research analysts predict that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 12th will be given a dividend of $0.4538 per share. The ex-dividend date is Friday, December 12th. This represents a $1.82 annualized dividend and a dividend yield of 0.7%. WESCO International’s payout ratio is currently 14.27%.

Insiders Place Their Bets

In other news, EVP Christine Ann Wolf sold 4,685 shares of the stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $259.52, for a total value of $1,215,851.20. Following the completion of the transaction, the executive vice president owned 30,195 shares of the company’s stock, valued at approximately $7,836,206.40. This represents a 13.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Diane Lazzaris sold 4,039 shares of WESCO International stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $258.42, for a total value of $1,043,758.38. Following the sale, the executive vice president owned 45,401 shares in the company, valued at $11,732,526.42. This represents a 8.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,036 shares of company stock worth $4,385,254 over the last three months. Company insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On WESCO International

A number of institutional investors have recently added to or reduced their stakes in the company. New Mexico Educational Retirement Board boosted its holdings in shares of WESCO International by 11.1% during the 3rd quarter. New Mexico Educational Retirement Board now owns 10,000 shares of the technology company’s stock valued at $2,115,000 after buying an additional 1,000 shares in the last quarter. Danske Bank A S bought a new stake in WESCO International during the third quarter worth about $127,000. Public Employees Retirement System of Ohio boosted its stake in WESCO International by 0.9% during the third quarter. Public Employees Retirement System of Ohio now owns 83,734 shares of the technology company’s stock worth $17,710,000 after acquiring an additional 777 shares in the last quarter. Dean Capital Management grew its holdings in WESCO International by 17.8% in the third quarter. Dean Capital Management now owns 9,913 shares of the technology company’s stock worth $2,097,000 after purchasing an additional 1,500 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of WESCO International by 6.2% during the third 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

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).