WESCO International (NYSE:WCC) EVP James Cameron Sells 10,325 Shares

Key Points

• WESCO International EVP James Cameron sold 10,325 shares of the company’s stock for approximately $2.34 million, representing an 18.43% decrease in his position.
• The company's stock recently traded at $218.91, with a market capitalization of $10.65 billion and a P/E ratio of 17.14.
• WESCO reported a quarterly earnings per share of $3.39, exceeding expectations, and announced a quarterly dividend payment of $0.4538 per share scheduled for September 30th.

WESCO International, Inc. (NYSE:WCC - Get Free Report) EVP James Cameron sold 10,325 shares of WESCO International stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $226.45, for a total value of $2,338,096.25. Following the completion of the transaction, the executive vice president directly owned 45,706 shares in the company, valued at $10,350,123.70. This represents a 18.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

James Cameron also recently made the following trade(s):

• On Friday, August 29th, James Cameron sold 10,325 shares of WESCO International stock. The stock was sold at an average price of $226.45, for a total value of $2,338,096.25.

WESCO International Trading Up 0.6%

WCC traded up $1.24 during trading on Friday, reaching $219.61. The company had a trading volume of 870,741 shares, compared to its average volume of 508,490. The firm's 50-day simple moving average is $208.43 and its 200 day simple moving average is $180.17. The company has a market cap of $10.69 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.69 and a beta of 1.81. WESCO International, Inc. has a 12-month low of $125.21 and a 12-month high of $228.35. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09.

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 for the quarter, topping analysts' consensus estimates 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 was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $3.21 EPS. Equities research analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current 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. The ex-dividend date of this dividend is Friday, September 12th. This represents a $1.82 dividend on an annualized basis and a yield of 0.8%. WESCO International's dividend payout ratio (DPR) is currently 14.25%.

Analysts Set New Price Targets

WCC has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on WESCO International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday. KeyCorp lifted their price target on WESCO International from $240.00 to $258.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Loop Capital raised their price objective on WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Oppenheimer raised their price objective on WESCO International from $225.00 to $255.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Raymond James Financial restated a "strong-buy" rating and set a $240.00 price objective (up from $230.00) on shares of WESCO International in a research report on Friday, August 1st. Two equities research 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 stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $232.67.

Institutional Investors Weigh In On WESCO International

Several institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC lifted its holdings in shares of WESCO International by 1.4% during the 2nd quarter. Lazard Asset Management LLC now owns 4,006 shares of the technology company's stock valued at $740,000 after buying an additional 54 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of WESCO International by 516.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 41,354 shares of the technology company's stock valued at $7,659,000 after buying an additional 34,649 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of WESCO International by 0.8% during the 2nd quarter. California State Teachers Retirement System now owns 45,604 shares of the technology company's stock valued at $8,446,000 after buying an additional 365 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of WESCO International by 51.1% during the 2nd quarter. Gabelli Funds LLC now owns 16,390 shares of the technology company's stock valued at $3,035,000 after buying an additional 5,540 shares during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of WESCO International during the 2nd quarter valued at about $573,000. 93.75% of the stock is currently owned by institutional investors and hedge funds.

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).