Russell Investments Group Ltd. Sells 59,602 Shares of WESCO International, Inc. $WCC

Key Points

• Russell Investments Group Ltd. decreased its stake in WESCO International by 27.7%, selling 59,602 shares and now holding 155,400 shares valued at approximately $24.1 million.
• Several institutional investors have significantly increased their positions in WESCO, including a 6,769.8% increase by Pacer Advisors and an 88.2% increase by Bank of New York Mellon Corp.
• WESCO International's recent quarterly earnings report showed earnings per share of $3.39, exceeding estimates, with revenues reaching $5.90 billion, marking a 7.7% year-over-year increase.

Russell Investments Group Ltd. trimmed its holdings in WESCO International, Inc. (NYSE:WCC - Free Report) by 27.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 155,400 shares of the technology company's stock after selling 59,602 shares during the period. Russell Investments Group Ltd. owned about 0.32% of WESCO International worth $24,134,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Whittier Trust Co. lifted its position in shares of WESCO International by 46.8% during the first quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock valued at $43,000 after purchasing an additional 89 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of 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 purchasing an additional 78 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of WESCO International by 27.7% during 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 in the last quarter. Raiffeisen Bank International AG bought a new position in shares of WESCO International during the fourth quarter valued at about $180,000. Finally, NBC Securities Inc. lifted its position in shares of WESCO International by 101,900.0% during the first quarter. NBC Securities Inc. now owns 1,020 shares of the technology company's stock valued at $158,000 after purchasing an additional 1,019 shares in the last quarter. 93.75% of the stock is owned by institutional investors.

Insider Buying and Selling at WESCO International

In other news, EVP Akash Khurana sold 7,000 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $208.12, for a total transaction of $1,456,840.00. Following the sale, the executive vice president owned 34,062 shares of the company's stock, valued at $7,088,983.44. This trade represents a 17.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nelson John Squires III sold 11,093 shares of the firm's stock in a transaction that occurred 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. In the last ninety days, insiders sold 21,199 shares of company stock worth $4,346,661. 3.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WCC. Stephens lowered shares of WESCO International from an "overweight" rating to an "equal weight" rating and raised their price target for the company from $190.00 to $200.00 in a research report on Wednesday, July 16th. 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. Oppenheimer lowered their price objective on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. KeyCorp lifted their price objective on shares of WESCO International from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of WESCO International from $180.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $221.78.

WESCO International Stock Performance

WCC stock traded down $3.5350 during midday trading on Wednesday, reaching $208.3950. 187,423 shares of the company's stock traded hands, compared to its average volume of 725,896. The company has a 50-day moving average price of $197.73 and a two-hundred day moving average price of $177.48. 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 52 week low of $125.21 and a 52 week high of $219.07. The firm has a market capitalization of $10.14 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 1.61 and a beta of 1.84.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, beating the consensus estimate of $3.31 by $0.08. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The company had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $5.82 billion. During the same quarter in the previous year, the company earned $3.21 earnings per share. WESCO International's revenue for the quarter was up 7.7% on a year-over-year basis. As a group, equities analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.4538 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.82 annualized dividend and a yield of 0.9%. WESCO International's dividend payout ratio is 14.17%.

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).