WESCO International (NYSE:WCC) Price Target Raised to $421.00

WESCO International (NYSE:WCC) had its price objective upped by Royal Bank Of Canada from $411.00 to $421.00 in a research note released on Thursday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Other research analysts also recently issued research reports about the stock. KeyCorp increased their price objective on shares of WESCO International from $340.00 to $415.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Weiss Ratings upgraded WESCO International from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, May 4th. 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. Barclays raised their price target on WESCO International from $313.00 to $375.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Finally, Wall Street Zen downgraded WESCO International from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $341.22.

WESCO International Trading Up 0.3%

WESCO International stock opened at $327.69 on Thursday. WESCO International has a 1 year low of $197.96 and a 1 year high of $377.90. The firm’s 50 day moving average price is $348.23 and its 200-day moving average price is $309.48. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.12 and a quick ratio of 1.22. The stock has a market cap of $15.96 billion, a P/E ratio of 23.29, a PEG ratio of 2.06 and a beta of 1.54.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, April 30th. The technology company reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.88 by $0.49. The firm had revenue of $6.08 billion during the quarter, compared to analyst estimates of $5.86 billion. WESCO International had a net margin of 2.79% and a return on equity of 13.82%. WESCO International’s revenue for the quarter was up 13.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.21 earnings per share. WESCO International has set its FY 2026 guidance at 15.000-17.000 EPS. On average, equities analysts predict that WESCO International will post 15.94 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were issued a $0.50 dividend. The ex-dividend date was Friday, June 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.6%. WESCO International’s payout ratio is 14.21%.

Insider Activity

In related news, EVP Christine Ann Wolf sold 2,549 shares of WESCO International stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $355.25, for a total value of $905,532.25. Following the completion of the transaction, the executive vice president owned 29,570 shares in the company, valued at approximately $10,504,742.50. This trade represents a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO David S. Schulz sold 31,951 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $360.44, for a total value of $11,516,418.44. Following the sale, the chief financial officer directly owned 77,038 shares in the company, valued at $27,767,576.72. The trade was a 29.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 144,486 shares of company stock worth $51,846,641. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On WESCO International

A number of institutional investors and hedge funds have recently modified their holdings of WCC. Cornerstone Planning Group LLC raised its holdings in WESCO International by 92.7% during the 4th quarter. Cornerstone Planning Group LLC now owns 106 shares of the technology company’s stock valued at $26,000 after buying an additional 51 shares during the period. Brown Brothers Harriman & Co. boosted its stake in WESCO International by 166.0% during the third quarter. Brown Brothers Harriman & Co. now owns 133 shares of the technology company’s stock worth $28,000 after buying an additional 83 shares during the period. Torren Management LLC purchased a new position in WESCO International during the fourth quarter worth $32,000. Hilton Head Capital Partners LLC bought a new position in WESCO International during the fourth quarter valued at $39,000. Finally, V Square Quantitative Management LLC purchased a new stake in shares of WESCO International in the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 93.75% of the company’s stock.

WESCO International Company Profile

WESCO International, Inc is a leading global distributor of electrical, industrial, communications and utility products, serving a diverse customer base across maintenance, repair and operations (MRO), original equipment manufacturing (OEM) and construction markets. The company offers a comprehensive portfolio of products ranging from power distribution and automation solutions to data communications, security systems and lighting controls. Through an extensive branch network, WESCO provides critical components and value‐added services that help organizations streamline operations and improve reliability in their facilities and infrastructure.

In addition to its broad product offering, WESCO delivers advanced supply chain management and logistics solutions designed to optimize inventory levels, reduce downtime and lower overall procurement costs.