Quantbot Technologies LP Purchases Shares of 8,548 WESCO International, Inc. $WCC

Key Points

• Quantbot Technologies LP purchased 8,548 shares of WESCO International, Inc., valued at approximately $1.3 million, indicating strong institutional interest in the company.
• Insider transactions saw significant share sales by executives, with EVP Christine Ann Wolf selling 3,106 shares and EVP Nelson John Squires III selling 11,093 shares, reflecting a decrease in their ownership.
• WESCO International reported a quarterly earnings beat with $3.39 EPS, surpassing analysts' estimates, alongside a robust revenue increase compared to the previous year.

Quantbot Technologies LP purchased a new stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 8,548 shares of the technology company's stock, valued at approximately $1,328,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Whittier Trust Co. lifted its position 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 buying an additional 89 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of WESCO International by 21.1% during the 1st quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock worth $69,000 after buying an additional 78 shares in the last quarter. GAMMA Investing LLC lifted 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 buying an additional 104 shares in the last quarter. NBC Securities Inc. lifted its position 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 buying an additional 1,019 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new position in shares of WESCO International during the 4th quarter worth approximately $180,000. Institutional investors and hedge funds own 93.75% of the company's stock.

Insider Transactions 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 shares were sold at an average price of $177.14, for a total value of $550,196.84. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Nelson John Squires III sold 11,093 shares of the company's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $210.91, for a total transaction of $2,339,624.63. Following the completion of the transaction, the executive vice president directly owned 48,625 shares in the company, valued at approximately $10,255,498.75. The trade was a 18.58% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,199 shares of company stock valued at $4,346,661. 3.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on WCC. Stephens cut shares of WESCO International from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $190.00 to $200.00 in a research report on Wednesday, July 16th. Raymond James Financial reissued a "strong-buy" rating and set a $240.00 target price (up previously from $230.00) on shares of WESCO International in a research report on Friday, August 1st. KeyCorp lifted their price target on shares of WESCO International from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of WESCO International from $180.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Oppenheimer lowered their price target on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, WESCO International currently has a consensus rating of "Buy" and an average target price of $221.78.

WESCO International Trading Up 5.3%

Shares of WCC stock opened at $222.1240 on Friday. The company's fifty day simple moving average is $200.02 and its two-hundred day simple moving average is $178.18. 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, Inc. has a 1 year low of $125.21 and a 1 year high of $222.42. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 17.39, a PEG ratio of 1.62 and a beta of 1.84.

WESCO International (NYSE:WCC - Get Free Report) last issued its earnings results 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. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $5.82 billion. During the same quarter in the previous year, the firm posted $3.21 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.4538 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.82 annualized dividend and a dividend yield of 0.8%. WESCO International's dividend payout ratio is presently 14.17%.

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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