AEGON ASSET MANAGEMENT UK Plc Sells 21,981 Shares of WESCO International, Inc. $WCC

AEGON ASSET MANAGEMENT UK Plc lowered its holdings in shares of WESCO International, Inc. (NYSE:WCC) by 13.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 146,630 shares of the technology company’s stock after selling 21,981 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in WESCO International were worth $27,176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of WESCO International by 27.7% during the 1st quarter. GAMMA Investing LLC now owns 479 shares of the technology company’s stock valued at $74,000 after purchasing an additional 104 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of WESCO International by 56.6% during the 1st quarter. SG Americas Securities LLC now owns 4,135 shares of the technology company’s stock valued at $642,000 after purchasing an additional 1,495 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of WESCO International by 3.9% during the 1st quarter. New York State Teachers Retirement System now owns 25,756 shares of the technology company’s stock valued at $4,000,000 after purchasing an additional 968 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of WESCO International by 7.9% during the 1st quarter. Farther Finance Advisors LLC now owns 1,337 shares of the technology company’s stock valued at $209,000 after purchasing an additional 98 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of WESCO International by 1,286.6% during the 1st quarter. Bessemer Group Inc. now owns 1,345 shares of the technology company’s stock valued at $209,000 after purchasing an additional 1,248 shares during the last quarter. Institutional investors own 93.75% of the company’s stock.

Insider Activity at WESCO International

In related news, CFO David S. Schulz sold 12,227 shares of WESCO International stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $225.17, for a total transaction of $2,753,153.59. Following the completion of the transaction, the chief financial officer directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Engel sold 51,051 shares of WESCO International stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $226.17, for a total transaction of $11,546,204.67. Following the transaction, the chief executive officer directly owned 475,971 shares of the company’s stock, valued at approximately $107,650,361.07. This trade represents a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,131 shares of company stock worth $30,384,421 over the last 90 days. 3.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Oppenheimer raised their price target on shares of WESCO International from $225.00 to $255.00 and gave the stock an “outperform” rating in a report on Friday, September 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of WESCO International in a report on Wednesday, October 8th. Stephens lowered shares of WESCO International from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $190.00 to $200.00 in a report on Wednesday, July 16th. Raymond James Financial reissued a “strong-buy” rating and issued a $240.00 price target (up previously from $230.00) on shares of WESCO International in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their price target on shares of WESCO International from $205.00 to $225.00 and gave the stock an “overweight” rating in a report on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, WESCO International has a consensus rating of “Buy” and a consensus price target of $235.20.

WESCO International Trading Up 2.7%

Shares of WCC opened at $218.85 on Wednesday. The firm’s 50-day moving average price is $214.70 and its 200-day moving average price is $188.79. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 17.14, a PEG ratio of 1.65 and a beta of 1.79. The company has a current ratio of 2.09, a quick ratio of 1.19 and a debt-to-equity ratio of 1.19. WESCO International, Inc. has a 1-year low of $125.21 and a 1-year high of $228.35.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.08. The firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.82 billion. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.21 EPS. Sell-side analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current 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 given a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, September 12th. WESCO International’s dividend payout ratio (DPR) is 14.25%.

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).