Insider Buying: WESCO International (NYSE:WCC) CFO Buys $503,527.50 in Stock

WESCO International, Inc. (NYSE:WCC) CFO Indraneel Dev purchased 1,725 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was bought at an average cost of $291.90 per share, with a total value of $503,527.50. Following the acquisition, the chief financial officer owned 18,621 shares of the company’s stock, valued at approximately $5,435,469.90. The trade was a 10.21% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

WESCO International Trading Up 3.6%

NYSE:WCC opened at $328.21 on Thursday. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. The firm has a fifty day simple moving average of $346.87 and a 200-day simple moving average of $328.45. WESCO International, Inc. has a 12 month low of $240.55 and a 12 month high of $388.64. The company has a market capitalization of $15.97 billion, a P/E ratio of 20.37, a PEG ratio of 1.72 and a beta of 1.55.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, October 29th. The technology company reported $5.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.69 by $1.08. The company had revenue of $7.23 billion during the quarter, compared to analyst estimates of $6.87 billion. WESCO International had a return on equity of 16.27% and a net margin of 3.04%. The firm’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter last year, the business posted $3.92 EPS. On average, equities research analysts anticipate that WESCO International, Inc. will post 18.39 earnings per share for the current year.

WESCO International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.6%. WESCO International’s payout ratio is 12.41%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on WCC shares. Weiss Ratings downgraded shares of WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 23rd. Wall Street Zen upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Barclays upped their price objective on shares of WESCO International from $437.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday. Zacks Research downgraded shares of WESCO International from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Royal Bank Of Canada increased their price objective on shares of WESCO International from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.71.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Bell Investment Advisors Inc acquired a new stake in shares of WESCO International during the 2nd quarter worth approximately $26,000. Transamerica Financial Advisors LLC acquired a new position in shares of WESCO International in the 2nd quarter valued at $27,000. Burkett Financial Services LLC acquired a new position in shares of WESCO International in the 3rd quarter valued at $32,000. Reyes Financial Architecture Inc. purchased a new stake in WESCO International during the third quarter worth $35,000. Finally, Jones Financial Companies Lllp purchased a new stake in WESCO International during the second quarter worth $36,000. 93.75% of the stock is owned by institutional investors and hedge funds.

WESCO International Company Profile

WESCO International is a business-to-business distributor of electrical, communications, utility and industrial products. Its offerings include wire and cable, lighting, electrical equipment, networking and security systems, and supplies used in maintenance, repair and operations. The company also provides services such as procurement, inventory management, logistics, project support and supply-chain consulting. Its customers include contractors, manufacturers, utilities, communications providers, government organizations and commercial businesses.