Fifth Third Wealth Advisors LLC Increases Stake in WESCO International, Inc. (NYSE:WCC)

Fifth Third Wealth Advisors LLC increased its holdings in WESCO International, Inc. (NYSE:WCC) by 1.7% during the third quarter, Holdings Channel.com reports. The firm owned 4,335 shares of the technology company’s stock after acquiring an additional 71 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in WESCO International were worth $728,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in WCC. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of WESCO International by 71.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in WESCO International in the third quarter valued at approximately $28,000. GAMMA Investing LLC boosted its stake in shares of WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares during the period. UMB Bank n.a. grew its holdings in shares of WESCO International by 18.3% in the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after purchasing an additional 98 shares during the last quarter. Finally, Innealta Capital LLC purchased a new position in shares of WESCO International in the second quarter worth $152,000. 93.76% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the transaction, the executive vice president now owns 54,621 shares in the company, valued at $10,377,990. The trade was a 15.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP William Clayton Geary sold 2,829 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total transaction of $582,010.17. Following the sale, the executive vice president now directly owns 35,063 shares in the company, valued at $7,213,510.99. This trade represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,586 shares of company stock worth $6,565,762. 3.10% of the stock is currently owned by company insiders.

WESCO International Stock Down 1.3 %

Shares of NYSE:WCC opened at $201.84 on Thursday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. WESCO International, Inc. has a 52-week low of $132.37 and a 52-week high of $213.75. The firm has a market capitalization of $9.89 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.66 and a beta of 2.01. The stock has a 50 day moving average price of $179.82 and a 200-day moving average price of $171.72.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the firm posted $4.49 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities research analysts anticipate that WESCO International, Inc. will post 12.22 EPS for the current fiscal year.

WESCO International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, September 13th. WESCO International’s payout ratio is currently 13.21%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on WCC. Royal Bank of Canada increased their price target on shares of WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. KeyCorp raised their target price on WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Robert W. Baird lifted their price objective on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, StockNews.com raised WESCO International from a “hold” rating to a “buy” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, WESCO International has a consensus rating of “Buy” and an average price target of $208.86.

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).