Pacer Advisors Inc. Has $70.86 Million Position in WESCO International, Inc. (NYSE:WCC)

Key Points

• Pacer Advisors Inc. significantly increased its holdings in WESCO International by 6,769.8% during the first quarter, owning approximately $70.86 million worth of shares by the end of the period.
• WESCO International reported a quarterly earnings per share (EPS) of $2.21, which missed analysts' expectations of $2.23, with a revenue of $5.34 billion.
• The company announced a quarterly dividend of $0.4538 per share, translating to an annual yield of 0.86%, with a low dividend payout ratio of 13.77%.

Pacer Advisors Inc. grew its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 6,769.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 456,290 shares of the technology company's stock after buying an additional 449,648 shares during the quarter. Pacer Advisors Inc. owned approximately 0.94% of WESCO International worth $70,862,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WCC. Whittier Trust Co. increased its position in shares of WESCO International by 46.8% in the first quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock valued at $43,000 after acquiring an additional 89 shares during the last quarter. Parallel Advisors LLC grew its stake in WESCO International by 21.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock valued at $69,000 after purchasing an additional 78 shares in the last quarter. GAMMA Investing LLC increased its position in shares of WESCO International by 27.7% during the 1st quarter. GAMMA Investing LLC now owns 479 shares of the technology company's stock worth $74,000 after purchasing an additional 104 shares during the last quarter. NBC Securities Inc. raised its stake in shares of WESCO International by 101,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,020 shares of the technology company's stock worth $158,000 after purchasing an additional 1,019 shares in the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in shares of WESCO International in the 4th quarter valued at approximately $180,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

WESCO International Stock Performance

Shares of NYSE:WCC opened at $211.80 on Friday. WESCO International, Inc. has a 12-month low of $125.21 and a 12-month high of $216.17. The company's 50 day moving average price is $183.64 and its two-hundred day moving average price is $174.96. The firm has a market cap of $10.34 billion, a PE ratio of 16.02, a PEG ratio of 1.64 and a beta of 1.83. The company has a quick ratio of 1.23, a current ratio of 2.15 and a debt-to-equity ratio of 1.02.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $2.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.27 billion. WESCO International had a return on equity of 13.40% and a net margin of 3.30%. The company's quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.30 EPS. Equities research analysts predict that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $0.4538 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.82 annualized dividend and a yield of 0.86%. WESCO International's dividend payout ratio is 13.77%.

Insider Transactions at WESCO International

In other news, EVP Christine Ann Wolf sold 3,106 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were 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 owned 30,181 shares of the company's stock, valued at approximately $5,346,262.34. This represents a 9.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.30% of the stock is owned by insiders.

Analyst Ratings Changes

WCC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of WESCO International from $210.00 to $180.00 and set an "overweight" rating on the stock in a report on Tuesday, May 27th. 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. Loop Capital dropped their target price on shares of WESCO International from $250.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, May 12th. KeyCorp lifted their price target on WESCO International from $180.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, June 13th. Finally, Oppenheimer dropped their price objective on WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $210.75.

WESCO International 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).

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