WESCO International (NYSE:WCC) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

WESCO International, Inc. (NYSE:WCC)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $175.42 and traded as high as $185.55. WESCO International shares last traded at $184.12, with a volume of 534,736 shares.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. StockNews.com raised shares of WESCO International from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Robert W. Baird increased their price target on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. KeyCorp increased their target price on WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Oppenheimer upped their price objective on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $215.88.

WESCO International Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29. The business’s 50-day simple moving average is $195.40 and its two-hundred day simple moving average is $175.42. The stock has a market capitalization of $9.02 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.55 and a beta of 2.02.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the prior year, the company earned $4.49 EPS. The firm’s revenue was down 2.7% on a year-over-year basis. On average, research analysts anticipate that WESCO International, Inc. will post 12.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 0.90%. The ex-dividend date was Friday, December 13th. WESCO International’s dividend payout ratio (DPR) is presently 13.21%.

Insider Buying and Selling at WESCO International

In other WESCO International news, EVP William Clayton Geary sold 2,829 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total value of $582,010.17. Following the completion of the transaction, the executive vice president now directly owns 35,063 shares of the company’s stock, valued at $7,213,510.99. This represents a 7.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nelson John Squires III sold 10,000 shares of WESCO International stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the sale, the executive vice president now directly owns 54,621 shares in the company, valued at approximately $10,377,990. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,767 shares of company stock valued at $5,567,454 over the last 90 days. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On WESCO International

Several institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC raised its holdings in WESCO International by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock valued at $68,000 after acquiring an additional 75 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of WESCO International in the 3rd quarter valued at about $592,000. Geode Capital Management LLC lifted its position in shares of WESCO International by 3.0% during the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock worth $128,143,000 after purchasing an additional 22,080 shares during the last quarter. MetLife Investment Management LLC grew its stake in WESCO International by 0.4% in the third quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company’s stock worth $3,881,000 after purchasing an additional 85 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in WESCO International by 80.4% in the third quarter. BNP Paribas Financial Markets now owns 12,034 shares of the technology company’s stock valued at $2,021,000 after buying an additional 5,363 shares during the last quarter. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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).