Fintel reports that on July 13, 2023, Keybanc maintained coverage of Wesco International (NYSE:WCC) with a Overweight recommendation.
Analyst Price Forecast Suggests 10.01% Upside
As of July 6, 2023, the average one-year price target for Wesco International is 195.97. The forecasts range from a low of 176.75 to a high of $220.50. The average price target represents an increase of 10.01% from its latest reported closing price of 178.13.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Wesco International is 22,252MM, an increase of 1.10%. The projected annual non-GAAP EPS is 16.60.
Wesco International Declares $0.38 Dividend
On June 1, 2023 the company declared a regular quarterly dividend of $0.38 per share ($1.50 annualized). Shareholders of record as of June 15, 2023 received the payment on June 30, 2023. Previously, the company paid $0.38 per share.
At the current share price of $178.13 / share, the stock's dividend yield is 0.84%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.29%, the lowest has been 0.42%, and the highest has been 8.04%. The standard deviation of yields is 1.28 (n=236).
The current dividend yield is 1.13 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.04. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 888 funds or institutions reporting positions in Wesco International. This is an increase of 89 owner(s) or 11.14% in the last quarter. Average portfolio weight of all funds dedicated to WCC is 0.42%, an increase of 0.88%. Total shares owned by institutions decreased in the last three months by 1.64% to 56,491K shares. 
The put/call ratio of WCC is 0.66, indicating a bullish outlook.
What are Other Shareholders Doing?
Leonard Green & Partners holds 6,407K shares representing 12.50% ownership of the company. No change in the last quarter.
Peconic Partners holds 2,485K shares representing 4.85% ownership of the company. No change in the last quarter.
Diamond Hill Capital Management holds 1,676K shares representing 3.27% ownership of the company. In it's prior filing, the firm reported owning 1,886K shares, representing a decrease of 12.55%. The firm increased its portfolio allocation in WCC by 12.99% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,584K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 1,550K shares, representing an increase of 2.15%. The firm increased its portfolio allocation in WCC by 16.49% over the last quarter.
Macquarie Group holds 1,511K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 1,965K shares, representing a decrease of 30.02%. The firm decreased its portfolio allocation in WCC by 21.13% over the last quarter.
Wesco International Background Information
(This description is provided by the company.)
WESCO International, Inc., a publicly traded FORTUNE 500® company headquartered in Pittsburgh, Pennsylvania, is a leading provider of business-to-business distribution, logistics services and supply chain management solutions. Pro forma 2020 annual sales were over $16 billion, including full year sales for Anixter International which WESCO acquired in June 2020. WESCO offers a best-in-class product and services portfolio of Electrical and Electronic Solutions, Communications and Security Solutions, and Utility and Broadband Solutions. The company employs approximately 18,000 people, maintains relationships with approximately 30,000 suppliers, and serves more than 125,000 customers worldwide. With nearly 1.5 million products, end-to-end supply chain services, and leading digital capabilities, WESCO provides innovative solutions to meet customer needs across commercial and industrial businesses, contractors, government agencies, institutions, telecommunications providers, and utilities. WESCO operates approximately 800 branch and warehouse locations in over 50 countries, providing a local presence for customers and a global network to serve multi-location businesses and multi-national corporations.
Additional reading:
- Wesco International Announces Election of Glynis Bryan to Board of Directors
- Letter agreement, dated October 20, 2020, memorializing terms of employment of Akash Khurana by WESCO International, Inc. (filed herewith)
- Wesco International Reports Record First Quarter 2023 Results
- First Quarter 2023 Webcast Presentation May 4, 2023 NYSE: WCC 2 All statements made herein that are not historical facts should be considered as “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
- WESCO International, Inc. Non-Employee Directors’ Deferred Compensation Plan, effective as of December 8, 2022
This story originally appeared on Fintel.
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