Davis Selected Advisers Buys 1,516 Shares of 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 grew its position in WESCO International, Inc. (NYSE:WCC - Free Report) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Whittier Trust Co. grew its position in shares of WESCO International by 46.8% in the first quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock valued at $43,000 after purchasing an additional 89 shares during the last quarter. Parallel Advisors LLC grew its position in WESCO International by 21.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock worth $69,000 after buying an additional 78 shares in the last quarter. GAMMA Investing LLC grew its position in WESCO International by 27.7% during the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company's stock worth $74,000 after buying an additional 104 shares in the last quarter. Raiffeisen Bank International AG acquired a new stake in WESCO International during the fourth quarter worth approximately $180,000. Finally, NBC Securities Inc. grew its position in WESCO International by 101,900.0% during the first quarter. NBC Securities Inc. now owns 1,020 shares of the technology company's stock worth $158,000 after buying an additional 1,019 shares in the last quarter. Institutional investors and hedge funds own 93.76% of the company's stock.

Insider Activity at WESCO International

In other news, EVP Christine Ann Wolf sold 3,106 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $177.14, for a total value of $550,196.84. Following the completion of the transaction, the executive vice president directly owned 30,181 shares in the company, valued at approximately $5,346,262.34. This represents a 9.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

WCC has been the topic of several analyst reports. Loop Capital increased their target price on WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. KeyCorp increased their target price on WESCO International from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Raymond James Financial reissued a "strong-buy" rating and set a $240.00 target price (up from $230.00) on shares of WESCO International in a report on Friday, August 1st. JPMorgan Chase & Co. increased 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. Finally, Stephens lowered WESCO International from an "overweight" rating to an "equal weight" rating and increased their target price for the stock from $190.00 to $200.00 in a report on Wednesday, July 16th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $221.78.

WESCO International Price Performance

NYSE WCC traded up $6.36 on Tuesday, hitting $209.91. 193,865 shares of the company's stock were exchanged, compared to its average volume of 736,187. The stock has a 50-day moving average of $193.28 and a 200-day moving average of $176.34. The company has a current ratio of 2.09, a quick ratio of 1.19 and a debt-to-equity ratio of 1.19. WESCO International, Inc. has a 52 week low of $125.21 and a 52 week high of $219.07. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 16.44, a P/E/G ratio of 1.57 and a beta of 1.84.

WESCO International (NYSE:WCC - Get Free Report) last released its earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share for the quarter, topping the consensus estimate of $3.31 by $0.08. WESCO International had a return on equity of 12.96% and a net margin of 2.98%. 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 earnings per share. The company's quarterly revenue was up 7.7% on a year-over-year basis. Analysts expect that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, June 13th. WESCO International's dividend payout ratio is presently 14.25%.

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).