Fifth Third Wealth Advisors LLC Lowers Stake in WESCO International, Inc. $WCC

Fifth Third Wealth Advisors LLC cut its position in WESCO International, Inc. (NYSE:WCC) by 35.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,390 shares of the technology company’s stock after selling 779 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in WESCO International were worth $257,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Whittier Trust Co. raised its holdings in WESCO International by 46.8% in the first quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock worth $43,000 after buying an additional 89 shares during the last quarter. GAMMA Investing LLC raised its holdings in WESCO International by 27.7% in the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company’s stock worth $74,000 after buying an additional 104 shares during the last quarter. Parallel Advisors LLC raised its holdings in WESCO International by 13.4% in the second quarter. Parallel Advisors LLC now owns 507 shares of the technology company’s stock worth $94,000 after buying an additional 60 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in WESCO International by 7.9% in the first quarter. Farther Finance Advisors LLC now owns 1,337 shares of the technology company’s stock worth $209,000 after buying an additional 98 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in WESCO International by 1,286.6% in the first quarter. Bessemer Group Inc. now owns 1,345 shares of the technology company’s stock worth $209,000 after buying an additional 1,248 shares during the last quarter. 93.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on WCC shares. Loop Capital lifted their target price on shares of WESCO International from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price target on shares of WESCO International from $205.00 to $225.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Wall Street Zen upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Friday, October 3rd. Raymond James Financial reiterated a “strong-buy” rating and issued a $240.00 price target (up from $230.00) on shares of WESCO International in a research note on Friday, August 1st. Finally, Oppenheimer lifted their price target on shares of WESCO International from $225.00 to $255.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, WESCO International currently has an average rating of “Buy” and an average target price of $235.20.

WESCO International Price Performance

WCC stock opened at $213.08 on Tuesday. WESCO International, Inc. has a one year low of $125.21 and a one year high of $228.35. The company’s fifty day moving average price is $214.47 and its 200-day moving average price is $188.58. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. The company has a market capitalization of $10.37 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.60 and a beta of 1.79.

WESCO International (NYSE:WCC) last released its 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 firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the previous year, the firm earned $3.21 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were paid a dividend of $0.4538 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.82 dividend on an annualized basis and a yield of 0.9%. WESCO International’s dividend payout ratio is presently 14.25%.

Insider Activity at WESCO International

In related news, EVP Hemant Porwal sold 4,656 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $224.84, for a total transaction of $1,046,855.04. Following the sale, the executive vice president owned 19,141 shares of the company’s stock, valued at $4,303,662.44. This represents a 19.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP James Cameron sold 10,325 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $226.45, for a total transaction of $2,338,096.25. Following the sale, the executive vice president directly owned 45,706 shares in the company, valued at approximately $10,350,123.70. The trade was a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,131 shares of company stock valued at $30,384,421 over the last quarter. 3.10% of the stock is currently owned by insiders.

WESCO International 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).