8,548 Shares in WESCO International, Inc. $WCC Purchased by Quantbot Technologies LP

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 acquired a new position in shares of WESCO International, Inc. (NYSE:WCC - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,548 shares of the technology company's stock, valued at approximately $1,328,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WCC. MetLife Investment Management LLC increased its holdings in shares of WESCO International by 8.6% during the 4th quarter. MetLife Investment Management LLC now owns 25,093 shares of the technology company's stock worth $4,541,000 after buying an additional 1,991 shares during the last quarter. State of Tennessee Department of Treasury increased its holdings in shares of WESCO International by 38.6% during the 4th quarter. State of Tennessee Department of Treasury now owns 18,123 shares of the technology company's stock worth $3,280,000 after buying an additional 5,051 shares during the last quarter. Pinebridge Investments L.P. increased its holdings in shares of WESCO International by 42.7% during the 4th quarter. Pinebridge Investments L.P. now owns 14,061 shares of the technology company's stock worth $2,544,000 after buying an additional 4,210 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of WESCO International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company's stock worth $46,148,000 after buying an additional 152,727 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of WESCO International by 538.0% during the 4th quarter. Captrust Financial Advisors now owns 8,096 shares of the technology company's stock worth $1,465,000 after buying an additional 6,827 shares during the last quarter. 93.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WCC shares. Raymond James Financial reaffirmed a "strong-buy" rating and set a $240.00 price target (up from $230.00) on shares of WESCO International in a research report on Friday, August 1st. Stephens cut shares of WESCO International from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $190.00 to $200.00 in a research report on Wednesday, July 16th. Oppenheimer decreased their price target on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. Loop Capital upped 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. Finally, KeyCorp upped their price objective on shares of WESCO International from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $221.78.

Insider Activity

In related news, EVP Nelson John Squires III sold 11,093 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $210.91, for a total transaction of $2,339,624.63. Following the sale, the executive vice president owned 48,625 shares in the company, valued at $10,255,498.75. This represents a 18.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christine Ann Wolf sold 3,106 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $177.14, for a total transaction of $550,196.84. Following the sale, the executive vice president owned 30,181 shares in the company, valued at approximately $5,346,262.34. This trade represents a 9.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,199 shares of company stock worth $4,346,661. 3.30% of the stock is currently owned by corporate insiders.

WESCO International Stock Down 0.2%

Shares of WESCO International stock traded down $0.36 during trading on Thursday, reaching $226.84. The company had a trading volume of 130,187 shares, compared to its average volume of 718,975. The company has a market cap of $11.04 billion, a price-to-earnings ratio of 17.75, a price-to-earnings-growth ratio of 1.75 and a beta of 1.84. The firm's fifty day moving average is $203.13 and its 200-day moving average is $179.01. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. WESCO International, Inc. has a fifty-two week low of $125.21 and a fifty-two week high of $228.35.

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. The business had revenue of $5.90 billion for 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 for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.21 EPS. On average, analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current year.

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).