2,911 Shares in WESCO International, Inc. $WCC Acquired by United Services Automobile Association

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 position in shares of WESCO International, Inc. (NYSE:WCC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 2,911 shares of the technology company's stock, valued at approximately $455,000.

Several other large investors also recently modified their holdings of WCC. Captrust Financial Advisors grew its holdings in shares of WESCO International by 538.0% during the 4th quarter. Captrust Financial Advisors now owns 8,096 shares of the technology company's stock worth $1,465,000 after purchasing an additional 6,827 shares in the last quarter. Redwood Investment Management LLC acquired a new stake in shares of WESCO International during the 4th quarter worth $1,445,000. Raiffeisen Bank International AG acquired a new stake in shares of WESCO International during the 4th quarter worth $180,000. Amiral Gestion bought a new stake in shares of WESCO International during the 4th quarter worth $796,000. Finally, MassMutual Private Wealth & Trust FSB lifted its position in shares of WESCO International by 53.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 17,888 shares of the technology company's stock worth $2,778,000 after buying an additional 6,218 shares during the last quarter. 93.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at WESCO International

In other news, CEO John Engel sold 51,051 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $226.17, for a total transaction of $11,546,204.67. Following the completion of the transaction, the chief executive officer directly owned 475,971 shares in the company, valued at $107,650,361.07. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Akash Khurana sold 7,000 shares of the firm's 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 139,237 shares of company stock valued at $30,934,618 over the last ninety days. Insiders own 3.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WCC shares. Oppenheimer upped their price objective on WESCO International from $225.00 to $255.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Loop Capital upped their price objective on WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Raymond James Financial restated a "strong-buy" rating and set a $240.00 price objective (up from $230.00) on shares of WESCO International in a research report on Friday, August 1st. Stephens downgraded WESCO International from an "overweight" rating to an "equal weight" rating and upped their price objective for the stock from $190.00 to $200.00 in a research report on Wednesday, July 16th. Finally, KeyCorp increased their target price on WESCO International from $240.00 to $258.00 and gave the company an "overweight" rating in a research report on Friday, August 29th. Two 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.com, the company presently has an average rating of "Buy" and a consensus price target of $232.67.

WESCO International Trading Down 2.3%

WESCO International stock traded down $4.98 during trading hours on Tuesday, hitting $209.74. The stock had a trading volume of 414,711 shares, compared to its average volume of 714,432. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 1.65 and a beta of 1.81. WESCO International, Inc. has a one year low of $125.21 and a one year high of $228.35. The business's 50 day simple moving average is $211.39 and its 200-day simple moving average is $181.62.

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

WESCO International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be given a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, September 12th. WESCO International's dividend payout ratio (DPR) is 14.17%.

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).