WESCO International (NYSE:WCC) Hits New 12-Month High – Still a Buy?

WESCO International, Inc. (NYSE:WCC) shares reached a new 52-week high on Tuesday . The stock traded as high as $302.78 and last traded at $297.9430, with a volume of 777283 shares changing hands. The stock had previously closed at $289.43.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of WESCO International in a research note on Wednesday, January 21st. Royal Bank Of Canada raised shares of WESCO International from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $262.00 to $302.00 in a report on Wednesday, November 19th. JPMorgan Chase & Co. increased their price objective on WESCO International from $260.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, January 16th. KeyCorp raised their target price on WESCO International from $300.00 to $304.00 and gave the stock an “overweight” rating in a research report on Monday, January 26th. Finally, Barclays upped their price target on WESCO International from $274.00 to $302.00 and gave the company an “overweight” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.00.

WESCO International Trading Up 2.9%

The stock has a market cap of $14.49 billion, a PE ratio of 23.37, a P/E/G ratio of 1.84 and a beta of 1.45. The company has a quick ratio of 1.20, a current ratio of 2.09 and a debt-to-equity ratio of 1.18. The firm has a 50-day simple moving average of $268.57 and a 200-day simple moving average of $238.83.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were issued a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, December 12th. WESCO International’s payout ratio is presently 14.20%.

Insider Activity

In related news, EVP Christine Ann Wolf sold 4,685 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $259.52, for a total transaction of $1,215,851.20. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Diane Lazzaris sold 4,039 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $258.42, for a total transaction of $1,043,758.38. Following the completion of 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. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,514 shares of company stock worth $2,459,622 over the last ninety days. Company insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. New York State Teachers Retirement System raised its position in shares of WESCO International by 2.1% in the second quarter. New York State Teachers Retirement System now owns 26,295 shares of the technology company’s stock worth $4,870,000 after buying an additional 539 shares in the last quarter. Applied Finance Capital Management LLC bought a new position in WESCO International in the 2nd quarter worth about $227,000. Foster & Motley Inc. purchased a new stake in shares of WESCO International in the 2nd quarter valued at about $375,000. ARGA Investment Management LP raised its holdings in shares of WESCO International by 125.5% in the 2nd quarter. ARGA Investment Management LP now owns 25,140 shares of the technology company’s stock valued at $4,656,000 after acquiring an additional 13,989 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in shares of WESCO International by 60.8% during the 2nd quarter. Bessemer Group Inc. now owns 2,163 shares of the technology company’s stock valued at $400,000 after acquiring an additional 818 shares during the last quarter. Institutional investors own 93.75% of the company’s stock.

About WESCO International

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.