WESCO International, Inc. (NYSE:WCC) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in WESCO International, selling 2,800 shares and now holds 126,240 shares, valued at approximately $19.6 million.
• Analysts have mixed opinions on WESCO International, with target prices ranging from $195 to $240, while the consensus rating is set at a "Moderate Buy."
• WESCO International recently reported a quarterly earnings per share of $3.39, exceeding expectations and marking a 7.7% increase in revenue compared to the previous year.

LSV Asset Management decreased its position in WESCO International, Inc. (NYSE:WCC - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,240 shares of the technology company's stock after selling 2,800 shares during the period. LSV Asset Management owned about 0.26% of WESCO International worth $19,605,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in WCC. Whittier Trust Co. grew its position in WESCO International by 46.8% during the first quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock worth $43,000 after buying an additional 89 shares during the period. Parallel Advisors LLC grew its position in WESCO International by 21.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock worth $69,000 after buying an additional 78 shares during the period. GAMMA Investing LLC grew its position in WESCO International by 27.7% during the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company's stock worth $74,000 after buying an additional 104 shares during the period. Raiffeisen Bank International AG acquired a new position in WESCO International during the fourth quarter worth about $180,000. Finally, NBC Securities Inc. lifted its holdings in shares of WESCO International by 101,900.0% in the first quarter. NBC Securities Inc. now owns 1,020 shares of the technology company's stock valued at $158,000 after purchasing an additional 1,019 shares in the last quarter. Hedge funds and other institutional investors own 93.76% of the company's stock.

Insider Activity at WESCO International

In other news, EVP Christine Ann Wolf sold 3,106 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $177.14, for a total transaction of $550,196.84. Following the completion of the sale, the executive vice president directly owned 30,181 shares in the company, valued at $5,346,262.34. This represents a 9.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

WCC has been the topic of several recent research reports. Stephens downgraded shares of WESCO International from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $190.00 to $200.00 in a report on Wednesday, July 16th. JPMorgan Chase & Co. upped their price target on shares of WESCO International from $180.00 to $205.00 and gave the company an "overweight" rating in a report on Monday. Raymond James Financial reaffirmed a "strong-buy" rating and issued a $240.00 price target (up previously from $230.00) on shares of WESCO International in a report on Friday, August 1st. Loop Capital upped their price target on shares of WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday. Finally, KeyCorp upped their price objective on shares of WESCO International from $210.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $221.78.

WESCO International Trading Up 0.1%

WCC stock traded up $0.19 on Friday, hitting $205.09. 224,505 shares of the company were exchanged, compared to its average volume of 739,847. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 1.58 and a beta of 1.84. The business's fifty day moving average is $191.79 and its two-hundred day moving average is $176.56. WESCO International, Inc. has a twelve month low of $125.21 and a twelve month high of $219.07. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.09 and a quick ratio of 1.19.

WESCO International (NYSE:WCC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $3.21 EPS. As a group, research analysts forecast that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, June 13th. WESCO International's dividend payout ratio is presently 14.25%.

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).