WESCO International (NYSE:WCC) CFO Sells $2,753,153.59 in Stock

WESCO International, Inc. (NYSE:WCC) CFO David Schulz sold 12,227 shares of the business’s stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $225.17, for a total transaction of $2,753,153.59. Following the transaction, the chief financial officer owned 110,376 shares of the company’s stock, valued at $24,853,363.92. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

WESCO International Trading Down 2.4%

NYSE WCC opened at $220.09 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19. WESCO International, Inc. has a 52 week low of $125.21 and a 52 week high of $228.35. The stock has a market capitalization of $10.71 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 1.69 and a beta of 1.84. The firm has a 50 day moving average of $204.95 and a two-hundred day moving average of $179.41.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, topping the consensus estimate of $3.31 by $0.08. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The company had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter in the previous year, the business posted $3.21 EPS. The firm’s revenue was up 7.7% on a year-over-year basis. As a group, research analysts expect that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be issued a $0.4538 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.82 annualized dividend and a dividend yield of 0.8%. WESCO International’s dividend payout ratio is presently 14.25%.

Institutional Trading of WESCO International

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its position in WESCO International by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 795,629 shares of the technology company’s stock valued at $147,351,000 after purchasing an additional 36,843 shares during the last quarter. River Road Asset Management LLC raised its position in WESCO International by 56.0% in the 2nd quarter. River Road Asset Management LLC now owns 605,918 shares of the technology company’s stock valued at $112,216,000 after purchasing an additional 217,417 shares during the last quarter. Pacer Advisors Inc. raised its position in WESCO International by 6,769.8% in the 1st quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company’s stock valued at $70,862,000 after purchasing an additional 449,648 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in WESCO International in the 2nd quarter valued at $75,136,000. Finally, Ameriprise Financial Inc. raised its position in WESCO International by 21.2% in the 1st quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company’s stock valued at $48,001,000 after purchasing an additional 54,046 shares during the last quarter. Hedge funds and other institutional investors own 93.75% of the company’s stock.

Analysts Set New Price Targets

WCC has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of WESCO International from $180.00 to $205.00 and gave the company an “overweight” rating in a report on Monday, August 4th. KeyCorp upped their target price on shares of WESCO International from $240.00 to $258.00 and gave the company an “overweight” rating in a report on Friday. Oppenheimer lowered their target price on shares of WESCO International from $225.00 to $195.00 and set an “outperform” rating for the company in a report on Monday, May 5th. Stephens cut shares of WESCO International from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $190.00 to $200.00 in a report on Wednesday, July 16th. Finally, Loop Capital upped their target price on shares of WESCO International from $220.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $223.78.

About WESCO International

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).