WESCO International, Inc. (NYSE:WCC) Director John K. Morgan sold 3,077 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $51.29, for a total transaction of $157,819.33. Following the sale, the director now owns 25,984 shares in the company, valued at approximately $1,332,719.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
WCC stock traded up $0.53 during trading on Friday, reaching $49.22. 508,959 shares of the stock were exchanged, compared to its average volume of 540,880. WESCO International, Inc. has a 1 year low of $43.94 and a 1 year high of $63.20. The company has a market capitalization of $2.18 billion, a PE ratio of 10.21, a price-to-earnings-growth ratio of 0.90 and a beta of 1.76. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.18 and a quick ratio of 1.31.
WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.93 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.02). WESCO International had a net margin of 2.77% and a return on equity of 10.34%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2 billion. During the same quarter in the prior year, the business earned $0.93 earnings per share. WESCO International’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts forecast that WESCO International, Inc. will post 5.39 EPS for the current year.
WCC has been the topic of several research analyst reports. TheStreet upgraded shares of WESCO International from a “c+” rating to a “b-” rating in a research report on Thursday, February 14th. Northcoast Research reiterated a “buy” rating on shares of WESCO International in a research report on Friday, May 3rd. William Blair lowered shares of WESCO International from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 7th. Wells Fargo & Co raised their price target on shares of WESCO International from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Finally, Zacks Investment Research downgraded shares of WESCO International from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $63.00.
Institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC increased its position in shares of WESCO International by 425.0% during the first quarter. Quadrant Capital Group LLC now owns 1,323 shares of the technology company’s stock valued at $68,000 after acquiring an additional 1,071 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of WESCO International by 42.0% in the fourth quarter. Meeder Asset Management Inc. now owns 2,385 shares of the technology company’s stock valued at $114,000 after purchasing an additional 706 shares in the last quarter. Greenleaf Trust acquired a new position in shares of WESCO International in the fourth quarter valued at approximately $208,000. SG Americas Securities LLC acquired a new position in shares of WESCO International in the first quarter valued at approximately $273,000. Finally, Sun Life Financial INC grew its holdings in shares of WESCO International by 6.6% in the fourth quarter. Sun Life Financial INC now owns 8,827 shares of the technology company’s stock valued at $424,000 after purchasing an additional 548 shares in the last quarter. Institutional investors and hedge funds own 98.48% of the company’s stock.
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About WESCO International
WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.
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