Norman Fields Gottscho Capital Management LLC Makes New $1.20 Million Investment in WESCO International, Inc. $WCC

Key Points

• Norman Fields Gottscho Capital Management LLC initiated a new position in WESCO International, acquiring 6,482 shares valued at approximately $1,200,000, which constitutes about 0.4% of its total investment portfolio.
• WESCO International reported quarterly earnings of $3.39 per share, exceeding analyst expectations, and announced a quarterly dividend of $0.4538 per share, effective September 30th.
• Several analysts have assigned a buy rating to WESCO International, with an average consensus price target of $232.67 for the stock.

Norman Fields Gottscho Capital Management LLC purchased a new position in WESCO International, Inc. (NYSE:WCC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,482 shares of the technology company's stock, valued at approximately $1,200,000. WESCO International comprises about 0.4% of Norman Fields Gottscho Capital Management LLC's investment portfolio, making the stock its 29th biggest holding.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. raised its holdings in shares of WESCO International by 46.8% during the 1st quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock worth $43,000 after acquiring an additional 89 shares in the last quarter. Parallel Advisors LLC raised 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 valued at $69,000 after acquiring an additional 78 shares in the last quarter. GAMMA Investing LLC grew its holdings in WESCO International by 27.7% in the first 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 period. Raiffeisen Bank International AG acquired a new stake in shares of WESCO International in the fourth quarter worth approximately $180,000. Finally, NBC Securities Inc. boosted its stake in WESCO International by 101,900.0% during the first quarter. NBC Securities Inc. now owns 1,020 shares of the technology company's stock worth $158,000 after buying an additional 1,019 shares during the last quarter. 93.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

WESCO International Stock Performance

WCC traded down $5.82 during midday trading on Friday, hitting $209.10. 1,608,489 shares of the company traded hands, compared to its average volume of 606,478. The company's 50-day moving average is $212.56 and its 200 day moving average is $182.70. WESCO International, Inc. has a 52 week low of $125.21 and a 52 week high of $228.35. 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 firm has a market capitalization of $10.17 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.66 and a beta of 1.81.

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

WESCO International Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Akash Khurana sold 7,000 shares of the business's stock in a transaction 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David S. Schulz sold 12,227 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $225.17, for a total value of $2,753,153.59. Following the completion of the sale, the chief financial officer directly owned 110,376 shares of the company's stock, valued at $24,853,363.92. The trade was a 9.97% decrease in their position. The disclosure for this sale can be found here. In 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 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).