Harbor Capital Advisors Inc. Has $3.22 Million Stock Holdings in WESCO International, Inc. $WCC

Key Points

• Harbor Capital Advisors Inc. increased its holdings in WESCO International by 51.4% during Q2, acquiring an additional 5,896 shares, bringing their total to 17,366 shares valued at approximately $3.22 million.
• Multiple analysts have raised their price targets for WESCO International, with key upgrades from KeyCorp, Loop Capital, and Oppenheimer, reflecting a consensus "Buy" rating and an average price target of $232.67.
• WESCO International announced a quarterly dividend of $0.4538 per share, equating to an annualized yield of 0.8%, highlighting a low dividend payout ratio of 14.25% for the company.

Harbor Capital Advisors Inc. boosted its stake in WESCO International, Inc. (NYSE:WCC - Free Report) by 51.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,366 shares of the technology company's stock after buying an additional 5,896 shares during the period. Harbor Capital Advisors Inc.'s holdings in WESCO International were worth $3,216,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norman Fields Gottscho Capital Management LLC bought a new position in shares of WESCO International during the 2nd quarter valued at about $1,200,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of WESCO International by 45.4% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 26,010 shares of the technology company's stock valued at $4,817,000 after purchasing an additional 8,122 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of WESCO International by 13.4% during the 2nd quarter. Parallel Advisors LLC now owns 507 shares of the technology company's stock valued at $94,000 after purchasing an additional 60 shares in the last quarter. Strs Ohio bought a new position in shares of WESCO International during the 1st quarter valued at about $5,036,000. Finally, United Services Automobile Association bought a new position in shares of WESCO International during the 1st quarter valued at about $455,000. Institutional investors own 93.75% of the company's stock.

Insider Buying and Selling at WESCO International

In related news, CEO John Engel sold 51,051 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $226.17, for a total transaction of $11,546,204.67. Following the transaction, the chief executive officer owned 475,971 shares of the company's stock, valued at approximately $107,650,361.07. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David S. Schulz sold 12,227 shares of WESCO International stock in a transaction on Wednesday, August 27th. The stock was 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 $24,853,363.92. This represents a 9.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 136,131 shares of company stock valued at $30,384,421 in the last three months. 3.30% of the stock is owned by insiders.

WESCO International Stock Performance

Shares of NYSE:WCC traded down $5.82 during trading on Friday, reaching $209.10. The stock had a trading volume of 1,608,489 shares, compared to its average volume of 606,478. WESCO International, Inc. has a 52 week low of $125.21 and a 52 week high of $228.35. The firm has a market capitalization of $10.17 billion, a price-to-earnings ratio of 16.37, a P/E/G ratio of 1.61 and a beta of 1.81. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19. The stock has a fifty day simple moving average of $212.56 and a two-hundred day simple moving average of $182.78.

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

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be given a dividend of $0.4538 per share. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.82 dividend on an annualized basis and a yield of 0.9%. WESCO International's payout ratio is 14.25%.

Analysts Set New Price Targets

Several research firms have recently weighed in on WCC. JPMorgan Chase & Co. raised their price objective on shares of WESCO International from $205.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Loop Capital raised their target price on shares of WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. KeyCorp raised their target price on shares of WESCO International from $240.00 to $258.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Stephens cut shares of WESCO International from an "overweight" rating to an "equal weight" rating and raised their target price for the stock from $190.00 to $200.00 in a report on Wednesday, July 16th. Finally, Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 target price (up from $230.00) on shares of WESCO International in a report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $232.67.

WESCO International Company 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).