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

Key Points

• AEGON ASSET MANAGEMENT UK Plc has reduced its stake in WESCO International by 13.0%, selling 21,981 shares to hold a total of 146,630 shares valued at approximately $27.2 million.
• WESCO International reported earnings of $3.39 per share for the last quarter, surpassing estimates and achieving a 7.7% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.4538 per share, reflecting a 0.8% dividend yield and a payout ratio of 14.25%.

AEGON ASSET MANAGEMENT UK Plc reduced its stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 13.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 146,630 shares of the technology company's stock after selling 21,981 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.30% of WESCO International worth $27,176,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. bought a new position in shares of WESCO International during the 2nd quarter valued at approximately $75,136,000. Greenleaf Trust grew its position in shares of WESCO International by 10.0% during the 2nd quarter. Greenleaf Trust now owns 2,597 shares of the technology company's stock valued at $481,000 after acquiring an additional 237 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of WESCO International by 38.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 82,957 shares of the technology company's stock valued at $15,364,000 after acquiring an additional 23,164 shares during the period. Farmers & Merchants Investments Inc. boosted its holdings in WESCO International by 1.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 193,277 shares of the technology company's stock worth $35,795,000 after buying an additional 3,366 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in WESCO International by 51.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 17,366 shares of the technology company's stock worth $3,216,000 after buying an additional 5,896 shares during the period. 93.75% of the stock is owned by institutional investors.

WESCO International Stock Performance

NYSE WCC opened at $218.85 on Wednesday. WESCO International, Inc. has a 1 year low of $125.21 and a 1 year high of $228.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.09 and a quick ratio of 1.19. The stock has a market capitalization of $10.65 billion, a PE ratio of 17.14, a P/E/G ratio of 1.65 and a beta of 1.79. The company's 50 day simple moving average is $214.70 and its two-hundred day simple moving average is $188.79.

WESCO International (NYSE:WCC - Get Free Report) last posted its earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share (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 business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $5.82 billion. During the same period in the prior year, the company posted $3.21 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. Analysts predict that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th were given a dividend of $0.4538 per share. The ex-dividend date was Friday, September 12th. This represents a $1.82 annualized dividend and a dividend yield of 0.8%. WESCO International's dividend payout ratio (DPR) is 14.25%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $240.00 price objective (up from $230.00) on shares of WESCO International in a report on Friday, August 1st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of WESCO International in a report on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective 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. Wall Street Zen raised shares of WESCO International from a "hold" rating to a "buy" rating in a report on Friday, October 3rd. Finally, Barclays assumed coverage on shares of WESCO International in a report on Wednesday, October 8th. They issued an "overweight" rating and a $258.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $235.20.

Insider Activity

In other news, CFO David S. Schulz sold 12,227 shares of the firm's stock in a transaction on 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 sale, the chief financial officer owned 110,376 shares in the company, valued at approximately $24,853,363.92. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James Cameron sold 10,325 shares of the firm'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 owned 45,706 shares in the company, valued at approximately $10,350,123.70. This trade represents a 18.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 136,131 shares of company stock worth $30,384,421. Corporate insiders own 3.10% of the company's stock.

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).

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