WESCO International (NYSE:WCC) Director Sells $339,810.00 in Stock

WESCO International, Inc. (NYSE:WCC) Director James Louis Singleton sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $226.54, for a total value of $339,810.00. Following the sale, the director directly owned 38,877 shares in the company, valued at $8,807,195.58. This trade represents a 3.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

WESCO International Price Performance

Shares of NYSE WCC opened at $220.09 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. WESCO International, Inc. has a fifty-two week low of $125.21 and a fifty-two week high of $228.35. The firm 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 stock’s 50-day simple moving average is $204.95 and its 200-day simple moving average is $179.41.

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

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be given a dividend of $0.4538 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.82 annualized dividend and a yield of 0.8%. WESCO International’s payout ratio is 14.25%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of WCC. Ameriprise Financial Inc. increased its holdings in shares of WESCO International by 149.3% in the fourth quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company’s stock valued at $46,148,000 after purchasing an additional 152,727 shares during the period. Captrust Financial Advisors increased its holdings in shares of WESCO International by 538.0% in the fourth quarter. Captrust Financial Advisors now owns 8,096 shares of the technology company’s stock valued at $1,465,000 after purchasing an additional 6,827 shares during the period. Redwood Investment Management LLC acquired a new position in shares of WESCO International in the fourth quarter valued at approximately $1,445,000. Raiffeisen Bank International AG purchased a new stake in shares of WESCO International in the fourth quarter valued at approximately $180,000. Finally, Amiral Gestion purchased a new stake in shares of WESCO International in the fourth quarter valued at approximately $796,000. Institutional investors and hedge funds own 93.75% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on WCC shares. Loop Capital lifted their price target on WESCO International from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Stephens lowered WESCO International from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $190.00 to $200.00 in a research report on Wednesday, July 16th. KeyCorp lifted their price target on WESCO International from $240.00 to $258.00 and gave the stock an “overweight” rating in a research report on Friday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $240.00 price target (up previously from $230.00) on shares of WESCO International in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their price target on WESCO International from $180.00 to $205.00 and gave the stock an “overweight” rating in a research report on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, WESCO International presently has a consensus rating of “Buy” and a consensus target price of $223.78.

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).