Ameriprise Financial Inc. Purchases 54,046 Shares of WESCO International, Inc. $WCC

Key Points

• Ameriprise Financial Inc. increased its stake in WESCO International by 21.2%, owning approximately 0.63% of the company, valued at about $48 million.
• WESCO International reported earnings of $3.39 per share for the last quarter, exceeding analysts' expectations of $3.31 and marking a 7.7% year-over-year revenue growth.
• The company's quarterly dividend of $0.4538 represents an annualized yield of 0.8% and a payout ratio of 14.17%.

Ameriprise Financial Inc. grew its holdings in WESCO International, Inc. (NYSE:WCC - Free Report) by 21.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309,081 shares of the technology company's stock after buying an additional 54,046 shares during the quarter. Ameriprise Financial Inc. owned about 0.63% of WESCO International worth $48,001,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Third Avenue Management LLC raised its holdings in shares of WESCO International by 0.6% in the first quarter. Third Avenue Management LLC now owns 14,822 shares of the technology company's stock worth $2,302,000 after acquiring an additional 83 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of WESCO International in the first quarter worth $1,328,000. Davis Selected Advisers raised its holdings in shares of WESCO International by 0.6% in the first quarter. Davis Selected Advisers now owns 258,503 shares of the technology company's stock worth $40,146,000 after acquiring an additional 1,516 shares during the last quarter. Integrated Investment Consultants LLC grew its position in shares of WESCO International by 69.8% in the first quarter. Integrated Investment Consultants LLC now owns 2,606 shares of the technology company's stock valued at $405,000 after purchasing an additional 1,071 shares during the period. Finally, Pacer Advisors Inc. grew its position in shares of WESCO International by 6,769.8% in the first quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock valued at $70,862,000 after purchasing an additional 449,648 shares during the period. 93.75% of the stock is owned by institutional investors and hedge funds.

WESCO International Stock Down 1.0%

NYSE WCC traded down $2.14 on Tuesday, hitting $217.70. 388,875 shares of the stock traded hands, compared to its average volume of 718,554. The stock has a 50-day moving average of $205.73 and a 200 day moving average of $179.47. WESCO International, Inc. has a twelve month low of $125.21 and a twelve month high of $228.35. The company has a market capitalization of $10.59 billion, a P/E ratio of 17.05, a price-to-earnings-growth ratio of 1.69 and a beta of 1.81. 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 (NYSE:WCC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The technology company reported $3.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.31 by $0.08. The firm had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $5.82 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.WESCO International's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.21 earnings per share. As a group, analysts expect that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, September 12th. WESCO International's dividend payout ratio (DPR) is presently 14.25%.

Insider Activity

In other news, EVP Nelson John Squires III sold 11,093 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $210.91, for a total transaction of $2,339,624.63. Following the completion of the sale, the executive vice president directly owned 48,625 shares of the company's stock, valued at $10,255,498.75. This trade represents a 18.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David S. Schulz sold 12,227 shares of the firm's stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $225.17, for a total value of $2,753,153.59. Following the sale, the chief financial officer directly owned 110,376 shares of the company's stock, valued at approximately $24,853,363.92. This represents a 9.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 95,495 shares of company stock worth $21,138,765 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WCC has been the subject of a number of research reports. KeyCorp boosted their price target on WESCO International from $240.00 to $258.00 and gave the company an "overweight" rating in a research report on Friday. Loop Capital boosted their price target on WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Oppenheimer lowered their price target on WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. boosted their price target on WESCO International from $180.00 to $205.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $240.00 price target (up previously from $230.00) on shares of WESCO International in a research report on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $223.78.

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).