WESCO International, Inc. (NYSE:WCC) Director Sells $998,307.64 in Stock

WESCO International, Inc. (NYSE:WCC) Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the sale, the director now directly owns 27,004 shares of the company’s stock, valued at $4,632,806.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

WESCO International Price Performance

Shares of WESCO International stock traded down $0.59 during trading on Friday, reaching $171.52. The company’s stock had a trading volume of 716,696 shares, compared to its average volume of 697,525. The business has a 50 day moving average price of $161.59 and a 200-day moving average price of $166.23. The company has a market capitalization of $8.43 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.38 and a beta of 2.03. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. WESCO International, Inc. has a 12-month low of $122.30 and a 12-month high of $195.43.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period last year, the company earned $3.71 earnings per share. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that WESCO International, Inc. will post 12.14 EPS for the current year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Friday, September 13th. WESCO International’s dividend payout ratio (DPR) is 13.74%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. KeyCorp lowered their target price on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Loop Capital upped their target price on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday. Robert W. Baird lowered their price target on WESCO International from $195.00 to $172.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Stephens reaffirmed an “overweight” rating and set a $190.00 price objective on shares of WESCO International in a research note on Monday, August 5th. Finally, StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $189.86.

Institutional Investors Weigh In On WESCO International

A number of institutional investors and hedge funds have recently modified their holdings of WCC. Lyrical Asset Management LP boosted its position in WESCO International by 2,583.9% during the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock worth $133,040,000 after purchasing an additional 736,616 shares in the last quarter. Hudson Edge Investment Partners Inc. raised its stake in shares of WESCO International by 16.3% during the 4th quarter. Hudson Edge Investment Partners Inc. now owns 2,733 shares of the technology company’s stock worth $475,000 after buying an additional 384 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of WESCO International in the 4th quarter worth about $1,342,000. Rise Advisors LLC acquired a new stake in WESCO International in the 1st quarter valued at about $26,000. Finally, Polianta Ltd increased its holdings in WESCO International by 31.5% during the 1st quarter. Polianta Ltd now owns 7,100 shares of the technology company’s stock valued at $1,216,000 after acquiring an additional 1,700 shares in the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

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).