ARGA Investment Management LP Has $4.66 Million Stake in WESCO International, Inc. $WCC

Key Points

• ARGA Investment Management LP increased its stake in WESCO International by 125.5%, owning 25,140 shares worth approximately $4.66 million as of the second quarter.
• WESCO International reported a $3.39 EPS, beating estimates by $0.08, and achieved a revenue of $5.90 billion during the last quarter.
• The company declared a quarterly dividend of $0.4538 per share, equating to an annualized dividend yield of 0.8%.

ARGA Investment Management LP lifted its position in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 125.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,140 shares of the technology company's stock after purchasing an additional 13,989 shares during the quarter. ARGA Investment Management LP owned 0.05% of WESCO International worth $4,656,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its position in WESCO International by 13.4% in the 2nd quarter. Parallel Advisors LLC now owns 507 shares of the technology company's stock valued at $94,000 after buying an additional 60 shares during the last quarter. Third Avenue Management LLC raised its position in WESCO International by 0.6% in the 1st quarter. Third Avenue Management LLC now owns 14,822 shares of the technology company's stock valued at $2,302,000 after buying an additional 83 shares during the last quarter. Greenleaf Trust raised its position in WESCO International by 3.7% in the 1st quarter. Greenleaf Trust now owns 2,360 shares of the technology company's stock valued at $367,000 after buying an additional 84 shares during the last quarter. Whittier Trust Co. raised its position in WESCO International by 46.8% in the 1st quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock valued at $43,000 after buying an additional 89 shares during the last quarter. Finally, GAMMA Investing LLC increased its position 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. 93.75% of the stock is owned by institutional investors and hedge funds.

WESCO International Stock Up 2.9%

WCC stock opened at $219.70 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. The company has a market capitalization of $10.69 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.66 and a beta of 1.79. WESCO International, Inc. has a fifty-two week low of $125.21 and a fifty-two week high of $228.35. The stock has a fifty day moving average of $216.05 and a 200-day moving average of $191.86.

WESCO International (NYSE:WCC - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, topping the consensus estimate of $3.31 by $0.08. The business 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%.The firm's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company earned $3.21 EPS. As a group, equities research analysts predict that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th were paid a $0.4538 dividend. 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 payout ratio is 14.25%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen raised WESCO International from a "hold" rating to a "buy" rating in a research report on Friday, October 3rd. Oppenheimer raised their target price on WESCO International from $225.00 to $255.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of WESCO International in a research report on Wednesday, October 8th. Stephens lowered WESCO International from an "overweight" rating to an "equal weight" rating and raised their target price for the company from $190.00 to $200.00 in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. raised their target price on WESCO International from $225.00 to $245.00 and gave the company an "overweight" rating in a research report on Wednesday, October 15th. Two research 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 MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $237.20.

Insiders Place Their Bets

In other WESCO International news, EVP Akash Khurana sold 7,000 shares of WESCO International stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nelson John Squires III sold 13,780 shares of WESCO International stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 48,625 shares in the company, valued at $10,677,563.75. This trade represents a 22.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 136,131 shares of company stock worth $30,384,421. 3.30% of the stock is currently owned by corporate insiders.

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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