Jump Financial LLC Trims Holdings in WESCO International, Inc. $WCC

Key Points

• Jump Financial LLC has reduced its stake in WESCO International by 34.4%, selling 2,396 shares and holding a total of 4,574 shares worth approximately $710,000.
• WESCO International recently declared a quarterly dividend of $0.4538 per share, representing an annual yield of 0.8%, with a dividend payout ratio of 14.25%.
• The company reported quarterly earnings of $3.39 per share, exceeding estimates, with revenue of $5.90 billion, marking a 7.7% year-over-year increase.

Jump Financial LLC lowered its stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 34.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,574 shares of the technology company's stock after selling 2,396 shares during the period. Jump Financial LLC's holdings in WESCO International were worth $710,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Ameriprise Financial Inc. lifted its holdings in shares of WESCO International by 21.2% during the 1st quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company's stock valued at $48,001,000 after purchasing an additional 54,046 shares in the last quarter. Third Avenue Management LLC increased its position in shares of WESCO International by 0.6% during the 1st quarter. Third Avenue Management LLC now owns 14,822 shares of the technology company's stock worth $2,302,000 after purchasing an additional 83 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of WESCO International during the 1st quarter worth approximately $1,328,000. Davis Selected Advisers increased its position in shares of WESCO International by 0.6% during the 1st quarter. Davis Selected Advisers now owns 258,503 shares of the technology company's stock worth $40,146,000 after purchasing an additional 1,516 shares during the last quarter. Finally, Integrated Investment Consultants LLC boosted its stake in shares of WESCO International by 69.8% during the 1st quarter. Integrated Investment Consultants LLC now owns 2,606 shares of the technology company's stock worth $405,000 after acquiring an additional 1,071 shares during the period. Institutional investors own 93.75% of the company's stock.

WESCO International Stock Up 0.1%

NYSE:WCC traded up $0.29 on Friday, hitting $218.66. The stock had a trading volume of 317,386 shares, compared to its average volume of 717,061. The company has a market cap of $10.64 billion, a PE ratio of 17.12, a P/E/G ratio of 1.68 and a beta of 1.81. WESCO International, Inc. has a 52 week low of $125.21 and a 52 week high of $228.35. The business's fifty day moving average is $207.75 and its 200 day moving average is $180.16. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings data 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 firm 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 company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business posted $3.21 earnings per share. On average, equities research analysts expect that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be paid a $0.4538 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.82 annualized dividend and a dividend yield of 0.8%. WESCO International's dividend payout ratio is 14.25%.

Insider Activity at WESCO International

In related news, CEO John Engel sold 51,051 shares of the stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $226.17, for a total transaction of $11,546,204.67. Following the completion of the sale, the chief executive officer directly owned 475,971 shares of the company's stock, valued at approximately $107,650,361.07. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Hemant Porwal sold 4,656 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $224.84, for a total value of $1,046,855.04. Following the sale, the executive vice president directly owned 19,141 shares of the company's stock, valued at $4,303,662.44. The trade was a 19.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,457 shares of company stock valued at $27,908,668 in the last ninety days. Insiders own 3.30% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WCC. Raymond James Financial reiterated a "strong-buy" rating and set a $240.00 target price (up from $230.00) on shares of WESCO International in a research note on Friday, August 1st. Oppenheimer upped 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. Stephens cut WESCO International from an "overweight" rating to an "equal weight" rating and boosted their price target for the stock from $190.00 to $200.00 in a report on Wednesday, July 16th. JPMorgan Chase & Co. boosted their price target on WESCO International from $205.00 to $225.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, Loop Capital upped their target price on WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, WESCO International 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).