Vaughan Nelson Investment Management L.P. Acquires New Stake in WESCO International, Inc. $WCC

Key Points

• Vaughan Nelson Investment Management L.P. has acquired a new stake in WESCO International, purchasing 405,700 shares valued at approximately $75.1 million, representing about 0.83% of the company's total shares.
• Insider trading reports indicate that CEO John Engel and CFO David S. Schulz both sold a significant number of shares on August 27, which accounts for a notable decrease in their respective ownership percentages.
• WESCO International recently reported $3.39 earnings per share for the last quarter, exceeding analyst expectations of $3.31, and announced a quarterly dividend of $0.4538 per share.

Vaughan Nelson Investment Management L.P. acquired a new stake in WESCO International, Inc. (NYSE:WCC - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 405,700 shares of the technology company's stock, valued at approximately $75,136,000. Vaughan Nelson Investment Management L.P. owned approximately 0.83% of WESCO International at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WCC. Pacer Advisors Inc. lifted its position in WESCO International by 6,769.8% in the 1st quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock valued at $70,862,000 after acquiring an additional 449,648 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of WESCO International by 88.2% during the 1st quarter. Bank of New York Mellon Corp now owns 758,786 shares of the technology company's stock worth $117,839,000 after buying an additional 355,570 shares during the last quarter. GAMMA Investing LLC boosted its stake 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 buying an additional 74,014 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of WESCO International by 21.2% during the 1st quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company's stock worth $48,001,000 after buying an additional 54,046 shares during the last quarter. Finally, Strs Ohio acquired a new position in shares of WESCO International during the 1st quarter worth about $5,036,000. 93.75% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO John Engel sold 51,051 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $226.17, for a total value of $11,546,204.67. Following the transaction, the chief executive officer owned 475,971 shares of the company's stock, valued at approximately $107,650,361.07. This represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David S. Schulz sold 12,227 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $225.17, for a total value of $2,753,153.59. Following the completion of the transaction, the chief financial officer directly owned 110,376 shares in the company, valued at $24,853,363.92. The trade was a 9.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 136,131 shares of company stock valued at $30,384,421 in the last ninety days. 3.30% of the stock is currently owned by company insiders.

WESCO International Trading Up 1.0%

WCC stock opened at $215.96 on Friday. WESCO International, Inc. has a one year low of $125.21 and a one year high of $228.35. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.65 and a beta of 1.79. The company has a fifty day moving average price of $213.75 and a two-hundred day moving average price of $186.07. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.09 and a quick ratio of 1.19.

WESCO International (NYSE:WCC - Get Free Report) last posted its earnings results 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 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 analysts' expectations of $5.82 billion. During the same quarter last year, the company posted $3.21 EPS. WESCO International's quarterly revenue was up 7.7% compared to the same quarter last year. Equities analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th were given a $0.4538 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.82 annualized dividend and a dividend yield of 0.8%. WESCO International's dividend payout ratio is presently 14.25%.

Wall Street Analysts Forecast Growth

WCC has been the subject of a number of recent research reports. Weiss Ratings restated a "hold (c+)" rating on shares of WESCO International in a research note on Saturday, September 27th. Loop Capital increased their price objective on shares of WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. increased their price objective on shares of WESCO International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. KeyCorp increased their price objective on shares of WESCO International from $240.00 to $258.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Finally, Stephens downgraded shares of WESCO International from an "overweight" rating to an "equal weight" rating and increased their price objective for the stock from $190.00 to $200.00 in a research note on Wednesday, July 16th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $232.67.

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).

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