Shaker Investments LLC OH Purchases New Shares in WESCO International, Inc. $WCC

Key Points

• Shaker Investments LLC OH acquired a new stake of 8,814 shares (~$2.156M) in WESCO International during the fourth quarter.
• WESCO beat quarterly expectations with EPS $3.37 vs $2.82 and revenue of $6.08B vs $5.85B, and raised its quarterly dividend to $0.50 ($2.00 annual) (yield ~0.7%).
• Insider and institutional activity: insiders net sold 20,114 shares (~$6.13M) over the last three months (though EVP Daniel Castillo bought 1,400 shares), while hedge funds and other institutions own about 93.75% of the stock.

Shaker Investments LLC OH acquired a new stake in WESCO International, Inc. (NYSE:WCC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,814 shares of the technology company's stock, valued at approximately $2,156,000.

Several other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its position in shares of WESCO International by 95.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 753 shares of the technology company's stock valued at $139,000 after acquiring an additional 368 shares during the period. Gamco Investors INC. ET AL purchased a new position in WESCO International during the second quarter worth approximately $573,000. California State Teachers Retirement System boosted its position in WESCO International by 0.8% during the second quarter. California State Teachers Retirement System now owns 45,604 shares of the technology company's stock worth $8,446,000 after purchasing an additional 365 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in WESCO International by 516.8% in the second quarter. BNP Paribas Financial Markets now owns 41,354 shares of the technology company's stock valued at $7,659,000 after purchasing an additional 34,649 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in WESCO International by 1.4% in the second quarter. Lazard Asset Management LLC now owns 4,006 shares of the technology company's stock valued at $740,000 after purchasing an additional 54 shares during the period. 93.75% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other WESCO International news, EVP Daniel J. Castillo purchased 1,400 shares of the firm's stock in a transaction dated Tuesday, March 31st. The shares were purchased at an average cost of $266.06 per share, with a total value of $372,484.00. Following the completion of the purchase, the executive vice president owned 15,300 shares in the company, valued at approximately $4,070,718. This represents a 10.07% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Diane Lazzaris sold 17,294 shares of the business's stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $305.00, for a total transaction of $5,274,670.00. Following the transaction, the executive vice president owned 29,065 shares in the company, valued at $8,864,825. The trade was a 37.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 20,114 shares of company stock worth $6,128,353. Insiders own 3.30% of the company's stock.

WESCO International Stock Performance

Shares of NYSE:WCC opened at $304.27 on Thursday. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.20 and a quick ratio of 1.27. WESCO International, Inc. has a 1 year low of $151.45 and a 1 year high of $330.00. The firm has a market capitalization of $14.81 billion, a PE ratio of 23.30, a P/E/G ratio of 2.03 and a beta of 1.44. The business's 50 day moving average price is $286.22 and its 200-day moving average price is $271.44.

WESCO International (NYSE:WCC - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The technology company reported $3.37 EPS for the quarter, beating the consensus estimate of $2.82 by $0.55. The firm had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $5.85 billion. WESCO International had a return on equity of 13.00% and a net margin of 2.72%. As a group, equities research analysts expect that WESCO International, Inc. will post 15.55 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from WESCO International's previous quarterly dividend of $0.45. The ex-dividend date was Friday, March 13th. WESCO International's dividend payout ratio (DPR) is currently 15.31%.

Analyst Upgrades and Downgrades

WCC has been the subject of several research analyst reports. Weiss Ratings downgraded WESCO International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, April 6th. Royal Bank Of Canada boosted their price target on shares of WESCO International from $316.00 to $335.00 and gave the stock an "outperform" rating in a report on Wednesday, February 11th. Barclays upped their price objective on shares of WESCO International from $302.00 to $313.00 and gave the stock an "overweight" rating in a research report on Thursday, February 12th. Wall Street Zen downgraded shares of WESCO International from a "buy" rating to a "hold" rating in a report on Saturday, January 17th. Finally, KeyCorp set a $340.00 target price on shares of WESCO International in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $276.00.

About WESCO International

WESCO International, Inc is a leading global distributor of electrical, industrial, communications and utility products, serving a diverse customer base across maintenance, repair and operations (MRO), original equipment manufacturing (OEM) and construction markets. The company offers a comprehensive portfolio of products ranging from power distribution and automation solutions to data communications, security systems and lighting controls. Through an extensive branch network, WESCO provides critical components and value‐added services that help organizations streamline operations and improve reliability in their facilities and infrastructure.

In addition to its broad product offering, WESCO delivers advanced supply chain management and logistics solutions designed to optimize inventory levels, reduce downtime and lower overall procurement costs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.