United Services Automobile Association Takes Position in WESCO International, Inc. $WCC

Key Points

• United Services Automobile Association has acquired a new position in WESCO International, Inc., purchasing 2,911 shares valued at approximately $455,000, according to a recent 13F filing.
• Analysts have varied ratings on WESCO International, with price targets increasing significantly; for instance, Raymond James set a target at $240.00, while KeyCorp raised it to $258.00.
• WESCO International announced a quarterly dividend of $0.4538, which will be paid on September 30th, representing a 0.8% yield.

United Services Automobile Association bought a new stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,911 shares of the technology company's stock, valued at approximately $455,000.

A number of other institutional investors also recently bought and sold shares of WCC. Whittier Trust Co. lifted its holdings in WESCO International by 46.8% in the first quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock worth $43,000 after buying an additional 89 shares during the period. Parallel Advisors LLC lifted its stake in shares of WESCO International by 21.1% in the 1st quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock valued at $69,000 after purchasing an additional 78 shares during the period. GAMMA Investing LLC lifted its stake in shares of 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 purchasing an additional 104 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of WESCO International during the fourth quarter valued at approximately $180,000. Finally, NBC Securities Inc. grew its stake in WESCO International by 101,900.0% in the first quarter. NBC Securities Inc. now owns 1,020 shares of the technology company's stock worth $158,000 after purchasing an additional 1,019 shares during the period. 93.75% of the stock is owned by institutional investors.

WESCO International Stock Down 2.5%

WESCO International stock traded down $5.62 during trading hours on Friday, hitting $214.88. The stock had a trading volume of 483,344 shares, compared to its average volume of 564,132. The stock's 50-day moving average price is $210.90 and its 200-day moving average price is $181.36. The stock has a market capitalization of $10.46 billion, a P/E ratio of 16.83, a price-to-earnings-growth ratio of 1.70 and a beta of 1.81. WESCO International, Inc. has a 12-month low of $125.21 and a 12-month high of $228.35. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19.

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, 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 the consensus estimate of $5.82 billion. During the same quarter last year, the firm earned $3.21 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. Equities research analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be paid a $0.4538 dividend. The ex-dividend date is Friday, September 12th. This represents a $1.82 annualized dividend and a dividend yield of 0.8%. WESCO International's payout ratio is currently 14.17%.

Insider Activity

In related news, EVP Nelson John Squires III sold 13,780 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $219.59, for a total transaction of $3,025,950.20. Following the sale, the executive vice president directly owned 48,625 shares of the company's stock, valued at $10,677,563.75. This trade represents a 22.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Akash Khurana sold 7,000 shares of WESCO International stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $208.12, for a total value of $1,456,840.00. Following the completion of the sale, the executive vice president owned 34,062 shares of the company's stock, valued at $7,088,983.44. The trade was a 17.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 139,237 shares of company stock valued at $30,934,618. Corporate insiders own 3.30% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WCC. Raymond James Financial reissued a "strong-buy" rating and set a $240.00 price objective (up previously from $230.00) on shares of WESCO International in a research report on Friday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of WESCO International from $205.00 to $225.00 and gave the company an "overweight" rating in a research report on Thursday, September 4th. Loop Capital upped their price objective on shares of WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Stephens downgraded shares of WESCO International from an "overweight" rating to an "equal weight" rating and raised their target price for the company from $190.00 to $200.00 in a research note on Wednesday, July 16th. Finally, Oppenheimer lifted their target price on shares of WESCO International from $225.00 to $255.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, WESCO International currently has a consensus rating of "Buy" and a consensus price target of $232.67.

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).