Norman Fields Gottscho Capital Management LLC Takes Position 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 bought a new stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,482 shares of the technology company's stock, valued at approximately $1,200,000. WESCO International makes up about 0.4% of Norman Fields Gottscho Capital Management LLC's investment portfolio, making the stock its 29th largest holding.

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

WESCO International Stock Performance

WCC opened at $214.89 on Tuesday. The firm has a market cap of $10.46 billion, a P/E ratio of 16.83, a PEG ratio of 1.65 and a beta of 1.81. WESCO International, Inc. has a 1-year low of $125.21 and a 1-year high of $228.35. The company has a 50 day simple moving average of $211.39 and a two-hundred day simple moving average of $181.62. 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 posted its quarterly earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share 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 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 in the prior year, the business posted $3.21 earnings per share. Equities analysts forecast that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

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 is Friday, September 12th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.8%. WESCO International's dividend payout ratio is currently 14.17%.

Insider Activity

In related news, EVP Nelson John Squires III sold 13,780 shares of the company's stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $219.59, for a total transaction of $3,025,950.20. Following the completion of the transaction, the executive vice president owned 48,625 shares in the company, valued at approximately $10,677,563.75. This represents a 22.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP James Cameron sold 10,325 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $226.45, for a total transaction 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 represents a 18.43% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,237 shares of company stock valued at $30,934,618 in the last quarter. Company insiders own 3.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WCC. Raymond James Financial reissued a "strong-buy" rating and set a $240.00 price objective (up previously from $230.00) on shares of WESCO International in a research note on Friday, August 1st. KeyCorp boosted their price objective on shares of WESCO International from $240.00 to $258.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Stephens lowered shares of WESCO International from an "overweight" rating to an "equal weight" rating and boosted their price objective for the stock from $190.00 to $200.00 in a research note on Wednesday, July 16th. Oppenheimer lifted their target price on shares of WESCO International from $225.00 to $255.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Finally, Loop Capital boosted their price objective on shares of WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. Two investment 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 stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $232.67.

About WESCO International

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).

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