WESCO International, Inc. $WCC Shares Acquired by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in WESCO International shares by 38.7%, owning approximately $15.36 million worth of stock after purchasing an additional 23,164 shares in the second quarter.
• WESCO International reported $3.39 EPS for the latest quarter, exceeding analysts' expectations of $3.31, with a revenue of $5.90 billion, up 7.7% year-over-year.
• The company declared a quarterly dividend of $0.4538 per share, representing an annualized dividend of $1.82 and a yield of 0.9%.

Public Employees Retirement System of Ohio grew its holdings in WESCO International, Inc. (NYSE:WCC - Free Report) by 38.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,957 shares of the technology company's stock after purchasing an additional 23,164 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.17% of WESCO International worth $15,364,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Bank of New York Mellon Corp grew its position in shares of WESCO International by 88.2% in the first quarter. Bank of New York Mellon Corp now owns 758,786 shares of the technology company's stock valued at $117,839,000 after purchasing an additional 355,570 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of WESCO International by 6,769.8% during the first 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. Ameriprise Financial Inc. grew its holdings in shares of WESCO International by 21.2% during the first 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 in the last quarter. Davis Selected Advisers grew its holdings in shares of WESCO International by 0.6% during the first quarter. Davis Selected Advisers now owns 258,503 shares of the technology company's stock worth $40,146,000 after buying an additional 1,516 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. grew its holdings in shares of WESCO International by 1.8% during the second quarter. Farmers & Merchants Investments Inc. now owns 193,277 shares of the technology company's stock worth $35,795,000 after buying an additional 3,366 shares in the last quarter. 93.75% of the stock is currently owned by institutional investors and hedge funds.

WESCO International Trading Up 0.4%

NYSE WCC opened at $208.55 on Friday. The company's fifty day simple moving average is $213.29 and its 200-day simple moving average is $183.92. WESCO International, Inc. has a 52 week low of $125.21 and a 52 week high of $228.35. The company has a current ratio of 2.09, a quick ratio of 1.19 and a debt-to-equity ratio of 1.19. The stock has a market cap of $10.15 billion, a P/E ratio of 16.33, a PEG ratio of 1.60 and a beta of 1.81.

WESCO International (NYSE:WCC - Get Free Report) last posted its earnings results on Thursday, July 31st. The technology company reported $3.39 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 business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $5.82 billion. During the same period in the previous year, the company posted $3.21 earnings per share. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. Equities research analysts predict that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be 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 is Friday, September 12th. WESCO International's payout ratio is 14.25%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WCC shares. Raymond James Financial reiterated a "strong-buy" rating and set a $240.00 price target (up from $230.00) on shares of WESCO International in a report on Friday, August 1st. JPMorgan Chase & Co. boosted their target price on shares of WESCO International from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Stephens downgraded shares of WESCO International from an "overweight" rating to an "equal weight" rating and boosted their target price for the company from $190.00 to $200.00 in a report on Wednesday, July 16th. Oppenheimer boosted 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. Finally, Loop Capital boosted their target price on shares of WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. 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 stock. According to MarketBeat, WESCO International presently has a consensus rating of "Buy" and a consensus target price of $232.67.

Insiders Place Their Bets

In related news, EVP Hemant Porwal sold 4,656 shares of WESCO International stock in a transaction on Friday, August 29th. The shares were sold at an average price of $224.84, for a total value of $1,046,855.04. Following the completion of the sale, the executive vice president owned 19,141 shares in the company, valued at approximately $4,303,662.44. The trade was a 19.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP James Cameron sold 10,325 shares of WESCO International stock in a transaction on Friday, August 29th. The stock was sold at an average price of $226.45, for a total transaction of $2,338,096.25. Following the completion of the sale, the executive vice president owned 45,706 shares of the company's stock, valued at approximately $10,350,123.70. This trade represents a 18.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,131 shares of company stock valued at $30,384,421. 3.30% of the stock is owned by insiders.

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).

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