Strs Ohio Acquires Shares of 32,427 WESCO International, Inc. $WCC

Key Points

• Strs Ohio has acquired a new stake in WESCO International, purchasing 32,427 shares valued at approximately $5,036,000, representing about 0.07% of the company's stock.
• Recent analyst activity has resulted in increased price targets for WESCO International, with Oppenheimer raising it from $225 to $255 and KeyCorp increasing theirs from $240 to $258.
• WESCO International announced a quarterly dividend of $0.4538, with an ex-dividend date of September 12th, representing an annualized payout of $1.82 and a dividend yield of 0.8%.

Strs Ohio purchased a new stake in WESCO International, Inc. (NYSE:WCC - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 32,427 shares of the technology company's stock, valued at approximately $5,036,000. Strs Ohio owned about 0.07% of WESCO International as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in WESCO International by 27.7% in the 1st quarter. GAMMA Investing LLC now owns 479 shares of the technology company's stock valued at $74,000 after acquiring an additional 104 shares during the last quarter. SG Americas Securities LLC raised its holdings in WESCO International by 56.6% in the 1st quarter. SG Americas Securities LLC now owns 4,135 shares of the technology company's stock valued at $642,000 after acquiring an additional 1,495 shares during the last quarter. New York State Teachers Retirement System raised its holdings in WESCO International by 3.9% in the 1st quarter. New York State Teachers Retirement System now owns 25,756 shares of the technology company's stock valued at $4,000,000 after acquiring an additional 968 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in WESCO International by 7.9% in the 1st quarter. Farther Finance Advisors LLC now owns 1,337 shares of the technology company's stock valued at $209,000 after acquiring an additional 98 shares during the last quarter. Finally, Bessemer Group Inc. raised its holdings in WESCO International by 1,286.6% in the 1st quarter. Bessemer Group Inc. now owns 1,345 shares of the technology company's stock valued at $209,000 after acquiring an additional 1,248 shares during the last quarter. 93.75% of the stock is currently owned by institutional investors and hedge funds.

WESCO International Stock Down 2.7%

WESCO International stock traded down $5.82 during trading on Friday, reaching $209.10. 1,608,489 shares of the company's stock were exchanged, compared to its average volume of 606,478. The company's 50-day moving average is $212.56 and its two-hundred day moving average is $182.70. 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 $228.35. The firm has a market cap of $10.17 billion, a price-to-earnings ratio of 16.37, a PEG ratio of 1.66 and a beta of 1.81.

WESCO International (NYSE:WCC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share 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 during the quarter, compared to analysts' expectations of $5.82 billion. During the same period in the prior year, the company earned $3.21 EPS. The firm's revenue was up 7.7% on a year-over-year basis. On average, analysts predict that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be given a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, September 12th. WESCO International's dividend payout ratio is presently 14.25%.

Analyst Ratings Changes

Several research analysts have weighed in on WCC shares. Oppenheimer boosted their price target on WESCO International from $225.00 to $255.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Raymond James Financial reissued a "strong-buy" rating and set a $240.00 price objective (up from $230.00) on shares of WESCO International in a research note on Friday, August 1st. Loop Capital boosted their price objective 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. Stephens cut shares of WESCO International from an "overweight" rating to an "equal weight" rating and boosted their price objective for the company from $190.00 to $200.00 in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of WESCO International from $205.00 to $225.00 and gave the company an "overweight" rating in a research note on Thursday, September 4th. Two equities research analysts have 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, WESCO International has an average rating of "Buy" and a consensus price target of $232.67.

Insider Buying and Selling

In other WESCO International news, EVP Akash Khurana sold 7,000 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $208.12, for a total value of $1,456,840.00. Following the completion of the transaction, the executive vice president directly owned 34,062 shares of the company's stock, valued at $7,088,983.44. This represents a 17.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Nelson John Squires III sold 13,780 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $219.59, for a total transaction of $3,025,950.20. Following the completion of the transaction, the executive vice president directly owned 48,625 shares of the company's stock, valued at approximately $10,677,563.75. The trade was a 22.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,131 shares of company stock worth $30,384,421 over the last quarter. Company insiders own 3.30% of the company's stock.

WESCO International Company 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).