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

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 the business's stock in a transaction dated 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 sale, the executive vice president owned 45,706 shares in the company, valued at $10,350,123.70. This trade represents a 18.43% decrease in their ownership of the stock. The transaction 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 transaction of $2,338,096.25.

WESCO International Price Performance

Shares of WCC stock traded up $1.24 during midday trading on Friday, reaching $219.61. 870,741 shares of the company were exchanged, compared to its average volume of 508,490. WESCO International, Inc. has a 12 month low of $125.21 and a 12 month high of $228.35. The company has a market cap of $10.69 billion, a P/E ratio of 17.20, a PEG ratio of 1.69 and a beta of 1.81. The company's 50 day moving average price is $208.43 and its two-hundred day moving average price is $180.17. 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 released its quarterly 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 company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the previous year, the firm earned $3.21 EPS. WESCO International's revenue was up 7.7% on a year-over-year basis. On average, sell-side analysts expect that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be issued a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, September 12th. WESCO International's payout ratio is presently 14.17%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC grew its position in WESCO International by 1.4% in the second quarter. Lazard Asset Management LLC now owns 4,006 shares of the technology company's stock worth $740,000 after acquiring an additional 54 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of WESCO International by 13.4% in the second quarter. Parallel Advisors LLC now owns 507 shares of the technology company's stock worth $94,000 after buying an additional 60 shares during the last quarter. Third Avenue Management LLC lifted its stake 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 buying an additional 83 shares during the last quarter. Greenleaf Trust lifted its stake in shares of WESCO International by 3.7% in the first quarter. Greenleaf Trust now owns 2,360 shares of the technology company's stock worth $367,000 after buying an additional 84 shares during the last quarter. Finally, Whittier Trust Co. lifted its stake 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 worth $43,000 after buying an additional 89 shares during the last quarter. 93.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WCC shares. Loop Capital boosted their target price on shares of WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. Oppenheimer boosted their target price on shares of WESCO International from $225.00 to $255.00 and gave the stock an "outperform" rating in a report on Friday. Raymond James Financial restated a "strong-buy" rating and set a $240.00 price target (up previously from $230.00) on shares of WESCO International in a report on Friday, August 1st. Stephens lowered shares of WESCO International from an "overweight" rating to an "equal weight" rating and boosted their price target for the company from $190.00 to $200.00 in a report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. boosted their price target on shares of WESCO International from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $232.67.

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).