MassMutual Private Wealth & Trust FSB Grows Stake in WESCO International, Inc. $WCC

Key Points

• MassMutual Private Wealth & Trust FSB increased its stake in WESCO International by 45.4%, owning 26,010 shares worth approximately $4.82 million.
• Institutional investors and hedge funds now hold 93.75% of WESCO International's stock, highlighting strong interest from large financial entities.
• WESCO International announced a quarterly dividend of $0.4538 per share, with a payout ratio of 14.25%, reflecting strong financial performance.

MassMutual Private Wealth & Trust FSB grew its stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 45.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,010 shares of the technology company's stock after acquiring an additional 8,122 shares during the period. MassMutual Private Wealth & Trust FSB owned 0.05% of WESCO International worth $4,817,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WCC. Bank of New York Mellon Corp raised its position in shares of WESCO International by 88.2% during the first quarter. Bank of New York Mellon Corp now owns 758,786 shares of the technology company's stock valued at $117,839,000 after buying an additional 355,570 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of WESCO International by 6,769.8% during the first quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock valued at $70,862,000 after buying an additional 449,648 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of WESCO International by 21.2% during the first quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company's stock valued at $48,001,000 after buying an additional 54,046 shares during the last quarter. Davis Selected Advisers raised its position in shares of WESCO International by 0.6% during the first quarter. Davis Selected Advisers now owns 258,503 shares of the technology company's stock valued at $40,146,000 after buying an additional 1,516 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of WESCO International by 19,737.1% during the first quarter. GAMMA Investing LLC now owns 74,389 shares of the technology company's stock valued at $11,553,000 after buying an additional 74,014 shares during the last quarter. 93.75% of the stock is currently owned by institutional investors.

WESCO International Stock Performance

NYSE WCC traded down $5.82 during trading on Friday, reaching $209.10. 1,608,489 shares of the company's stock were exchanged, compared to its average volume of 606,478. WESCO International, Inc. has a fifty-two week low of $125.21 and a fifty-two week high of $228.35. The business has a 50 day moving average price of $212.56 and a 200-day moving average price of $182.78. 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 market capitalization of $10.17 billion, a P/E ratio of 16.37, a PEG ratio of 1.61 and a beta of 1.81.

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

WESCO International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Friday, September 12th. WESCO International's dividend payout ratio (DPR) is presently 14.25%.

Wall Street Analysts Forecast Growth

WCC has been the subject of several recent research reports. KeyCorp increased their price target on shares of WESCO International from $240.00 to $258.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th. JPMorgan Chase & Co. increased their price target on shares of WESCO International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research report on Thursday, September 4th. Loop Capital increased their price target on shares of WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Raymond James Financial reissued a "strong-buy" rating and issued a $240.00 price target (up previously from $230.00) on shares of WESCO International in a research report on Friday, August 1st. Finally, Stephens cut shares of WESCO International from an "overweight" rating to an "equal weight" rating and upped their price objective for the stock from $190.00 to $200.00 in a research note on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, WESCO International has an average rating of "Buy" and an average price target of $232.67.

Insider Activity

In related news, EVP James Cameron sold 10,325 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $226.45, for a total value of $2,338,096.25. Following the transaction, the executive vice president owned 45,706 shares of the company's stock, valued at approximately $10,350,123.70. This trade represents a 18.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Hemant Porwal sold 4,656 shares of WESCO International stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $224.84, for a total transaction of $1,046,855.04. Following the transaction, the executive vice president directly owned 19,141 shares in the company, valued at approximately $4,303,662.44. This represents a 19.57% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 136,131 shares of company stock worth $30,384,421. 3.30% of the stock is owned by insiders.

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).