Russell Investments Group Ltd. Has $24.13 Million Holdings in 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. decreased its position in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 27.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 155,400 shares of the technology company's stock after selling 59,602 shares during the period. Russell Investments Group Ltd. owned 0.32% of WESCO International worth $24,134,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of WCC. Pacer Advisors Inc. grew its position 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 buying an additional 449,648 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in WESCO International by 88.2% in 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 acquiring an additional 355,570 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of WESCO International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company's stock worth $46,148,000 after acquiring an additional 152,727 shares during the period. GAMMA Investing LLC grew its holdings in shares of WESCO International by 19,737.1% during the 1st quarter. GAMMA Investing LLC now owns 74,389 shares of the technology company's stock worth $11,553,000 after purchasing an additional 74,014 shares in the last quarter. Finally, Redwood Investment Management LLC bought a new stake in shares of WESCO International during the fourth quarter valued at approximately $1,445,000. 93.75% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, 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 transaction, the executive vice president owned 48,625 shares of the company's stock, valued at $10,255,498.75. This represents a 18.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Christine Ann Wolf sold 3,106 shares of the firm's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $177.14, for a total value of $550,196.84. Following the completion of the transaction, the executive vice president owned 30,181 shares in the company, valued at approximately $5,346,262.34. This represents a 9.33% decrease in their position. The disclosure for this sale can be found here. In 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 corporate insiders.

WESCO International Price Performance

Shares of WESCO International stock traded up $1.3690 during trading on Thursday, reaching $210.8790. The company's stock had a trading volume of 479,861 shares, compared to its average volume of 709,753. The stock has a 50-day moving average price of $199.05 and a two-hundred day moving average price of $177.91. The stock has a market capitalization of $10.26 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 1.61 and a beta of 1.84. The company has a current ratio of 2.09, a quick ratio of 1.19 and a debt-to-equity ratio of 1.19. WESCO International, Inc. has a one year low of $125.21 and a one year high of $219.07.

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, topping 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 firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the prior year, the firm earned $3.21 EPS. The company's revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.4538 dividend. This represents a $1.82 annualized dividend and a yield of 0.9%. The ex-dividend date was Friday, June 13th. WESCO International's payout ratio is 14.25%.

Analyst Ratings Changes

Several brokerages recently commented on WCC. KeyCorp raised their target price on WESCO International from $210.00 to $240.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Oppenheimer dropped their price objective on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Stephens downgraded shares of WESCO International from an "overweight" rating to an "equal weight" rating and raised their price objective for the stock from $190.00 to $200.00 in a report on Wednesday, July 16th. Loop Capital upped their target price on shares of WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $240.00 target price (up from $230.00) on shares of WESCO International in a report on Friday, August 1st. 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 company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $221.78.

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).