WESCO International (NYSE:WCC) Downgraded by StockNews.com to Hold

StockNews.com cut shares of WESCO International (NYSE:WCC) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

A number of other brokerages also recently weighed in on WCC. Oppenheimer lifted their price target on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group lifted their price target on WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 6th. Stephens boosted their target price on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, KeyCorp boosted their target price on WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.63.

WESCO International Stock Performance

Shares of NYSE WCC opened at $193.22 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $9.47 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 1.34 and a beta of 2.01. The stock’s fifty day simple moving average is $187.14 and its 200 day simple moving average is $179.65. WESCO International has a 52-week low of $132.37 and a 52-week high of $216.17.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.07). WESCO International had a net margin of 3.19% and a return on equity of 13.19%. As a group, sell-side analysts forecast that WESCO International will post 12.3 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $0.4125 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.85%. WESCO International’s dividend payout ratio is currently 13.21%.

Hedge Funds Weigh In On WESCO International

Large investors have recently made changes to their positions in the business. Thompson Siegel & Walmsley LLC lifted its position in shares of WESCO International by 341.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock worth $43,420,000 after purchasing an additional 199,975 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of WESCO International by 142.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock worth $5,050,000 after purchasing an additional 17,682 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of WESCO International by 3.0% during the 3rd 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. EMC Capital Management lifted its position in shares of WESCO International by 580.8% during the 3rd quarter. EMC Capital Management now owns 16,094 shares of the technology company’s stock worth $2,703,000 after purchasing an additional 13,730 shares during the last quarter. Finally, Burns Matteson Capital Management LLC acquired a new position in shares of WESCO International during the 4th quarter worth about $390,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

WESCO International Company Profile

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).