Davis Selected Advisers Grows Stake in WESCO International, Inc. (NYSE:WCC)

Key Points

• Davis Selected Advisers increased its holdings in WESCO International by 0.6% in the first quarter, owning 258,503 shares valued at approximately $40.15 million.
• WESCO International reported earnings of $3.39 per share for the last quarter, surpassing analysts' expectations, while revenue rose by 7.7% year-over-year.
• The firm announced a quarterly dividend of $0.4538 per share, reflecting a yield of 0.9% and a dividend payout ratio of 14.25%.

Davis Selected Advisers boosted its position in WESCO International, Inc. (NYSE:WCC - Free Report) by 0.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 258,503 shares of the technology company's stock after purchasing an additional 1,516 shares during the quarter. Davis Selected Advisers owned about 0.53% of WESCO International worth $40,146,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WCC. Integrated Investment Consultants LLC raised its holdings in shares of WESCO International by 69.8% during the 1st quarter. Integrated Investment Consultants LLC now owns 2,606 shares of the technology company's stock worth $405,000 after buying an additional 1,071 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of WESCO International by 6,769.8% during the 1st quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock worth $70,862,000 after buying an additional 449,648 shares in the last quarter. KLP Kapitalforvaltning AS increased its holdings in WESCO International by 6.1% in the 1st quarter. KLP Kapitalforvaltning AS now owns 12,086 shares of the technology company's stock worth $1,877,000 after purchasing an additional 700 shares in the last quarter. Burns Matteson Capital Management LLC increased its holdings in WESCO International by 7.1% in the 1st quarter. Burns Matteson Capital Management LLC now owns 2,307 shares of the technology company's stock worth $358,000 after purchasing an additional 153 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in WESCO International by 46.8% in the 1st quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock worth $43,000 after purchasing an additional 89 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on WESCO International from $180.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. KeyCorp upped their price target on WESCO International from $210.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Raymond James Financial restated a "strong-buy" rating and set a $240.00 target price (up previously from $230.00) on shares of WESCO International in a research report on Friday, August 1st. Loop Capital upped their target price on WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Oppenheimer cut their target price on WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $221.78.

Insider Activity at WESCO International

In other news, EVP Christine Ann Wolf sold 3,106 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $177.14, for a total transaction of $550,196.84. Following the transaction, the executive vice president directly owned 30,181 shares of the company's stock, valued at approximately $5,346,262.34. This trade represents a 9.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.30% of the company's stock.

WESCO International Stock Performance

WCC traded down $0.47 during mid-day trading on Friday, reaching $204.43. 458,128 shares of the company traded hands, compared to its average volume of 787,386. The stock has a market capitalization of $9.98 billion, a P/E ratio of 16.01, a P/E/G ratio of 1.57 and a beta of 1.84. 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 company's fifty day moving average price is $192.52 and its 200-day moving average price is $176.44. WESCO International, Inc. has a 52-week low of $125.21 and a 52-week high of $219.07.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly 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 return on equity of 12.96% and a net margin of 2.98%. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the prior year, the business posted $3.21 EPS. WESCO International's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, sell-side analysts expect that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.4538 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.9%. WESCO International's dividend payout ratio (DPR) is presently 14.17%.

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).