Applied Finance Capital Management LLC Acquires Shares of 1,228 WESCO International, Inc. $WCC

Key Points

• Applied Finance Capital Management LLC acquired 1,228 shares of WESCO International, Inc., valued at approximately $227,000, during the second quarter.
• Brokerages have issued revised ratings for WESCO International, with Raymond James Financial issuing a strong-buy rating and a target price increase to $240.
• WESCO International recently announced a quarterly dividend of $0.4538, representing an annualized amount of $1.82 and a yield of 0.8%.

Applied Finance Capital Management LLC acquired a new stake in WESCO International, Inc. (NYSE:WCC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,228 shares of the technology company's stock, valued at approximately $227,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in WESCO International by 27.7% in 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 in the last quarter. SG Americas Securities LLC lifted its holdings in WESCO International by 56.6% in 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 in the last quarter. New York State Teachers Retirement System lifted its holdings in WESCO International by 3.9% in 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 in the last quarter. Bessemer Group Inc. increased its stake in shares of WESCO International by 1,286.6% in the 1st quarter. Bessemer Group Inc. now owns 1,345 shares of the technology company's stock worth $209,000 after acquiring an additional 1,248 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new stake in shares of WESCO International in the 2nd quarter worth $75,136,000. Hedge funds and other institutional investors own 93.75% of the company's stock.

Insider Buying and Selling

In other WESCO International news, EVP Akash Khurana sold 7,000 shares of WESCO International stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $208.12, for a total value of $1,456,840.00. Following the completion of the transaction, the executive vice president directly owned 34,062 shares of the company's stock, valued at $7,088,983.44. The trade was a 17.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nelson John Squires III sold 13,780 shares of the business's stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $219.59, for a total value of $3,025,950.20. Following the transaction, the executive vice president directly owned 48,625 shares of the company's stock, valued at approximately $10,677,563.75. This represents a 22.08% 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. 3.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on WCC. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of WESCO International in a research note on Wednesday, October 8th. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $240.00 target price (up from $230.00) on shares of WESCO International in a research note on Friday, August 1st. KeyCorp raised their target price on WESCO International from $240.00 to $258.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Loop Capital raised their target price on WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen raised WESCO International from a "hold" rating to a "buy" rating in a research note on Friday, October 3rd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, WESCO International has an average rating of "Moderate Buy" and an average target price of $237.20.

WESCO International Stock Performance

NYSE WCC opened at $214.07 on Friday. The company has a market cap of $10.42 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.66 and a beta of 1.79. 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 50-day moving average of $215.41 and a two-hundred day moving average of $190.02. WESCO International, Inc. has a 1-year low of $125.21 and a 1-year high of $228.35.

WESCO International (NYSE:WCC - Get Free Report) last released its earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share for the quarter, beating the consensus estimate of $3.31 by $0.08. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.82 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.WESCO International's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company posted $3.21 EPS. As a group, analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th were given a $0.4538 dividend. This represents a $1.82 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, September 12th. WESCO International's payout ratio is currently 14.25%.

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).

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