Insider Selling: WESCO International (NYSE:WCC) EVP Sells 4,656 Shares of Stock

Key Points

• Hemant Porwal, EVP of WESCO International, sold 4,656 shares at an average price of $224.84, totaling over $1 million, resulting in a 19.57% decrease in their holdings.
• The company reported $5.90 billion in quarterly revenue, surpassing estimates, and achieved an earnings per share of $3.39, beating consensus by $0.08.
• WESCO International announced a quarterly dividend of $0.4538 per share, translating to an annual yield of 0.8%, set to be paid on September 30th to shareholders of record on September 12th.

WESCO International, Inc. (NYSE:WCC - Get Free Report) EVP Hemant Porwal sold 4,656 shares of WESCO International stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $224.84, for a total value of $1,046,855.04. Following the transaction, the executive vice president directly owned 19,141 shares in the company, valued at $4,303,662.44. The trade was a 19.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Hemant Porwal also recently made the following trade(s):

• On Friday, August 29th, Hemant Porwal sold 4,656 shares of WESCO International stock. The stock was sold at an average price of $224.84, for a total value of $1,046,855.04.

WESCO International Trading Up 0.6%

WCC stock traded up $1.24 during trading on Friday, hitting $219.61. The company had a trading volume of 870,741 shares, compared to its average volume of 508,490. The business has a 50-day moving average of $208.43 and a 200-day moving average of $180.17. WESCO International, Inc. has a one year low of $125.21 and a one year high of $228.35. The stock has a market cap of $10.69 billion, a PE ratio of 17.20, a PEG 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 earnings results on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, beating 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 business had revenue of $5.90 billion for the quarter, compared to analysts' expectations of $5.82 billion. During the same period in the prior year, the business posted $3.21 earnings per share. The firm's revenue was up 7.7% on a year-over-year basis. Research analysts predict that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.4538 per share. 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 dividend payout ratio is presently 14.17%.

Hedge Funds Weigh In On WESCO International

A number of large investors have recently modified their holdings of WCC. Pacer Advisors Inc. lifted its holdings in shares of WESCO International by 6,769.8% in the 1st quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock worth $70,862,000 after purchasing an additional 449,648 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in WESCO International during the 2nd quarter valued at $75,136,000. Bank of New York Mellon Corp lifted its stake in WESCO International by 88.2% during the 1st quarter. Bank of New York Mellon Corp now owns 758,786 shares of the technology company's stock valued at $117,839,000 after acquiring an additional 355,570 shares in the last quarter. River Road Asset Management LLC lifted its stake in WESCO International by 56.0% during the 2nd quarter. River Road Asset Management LLC now owns 605,918 shares of the technology company's stock valued at $112,216,000 after acquiring an additional 217,417 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in WESCO International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company's stock valued at $46,148,000 after acquiring an additional 152,727 shares in the last quarter. 93.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Raymond James Financial restated 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. Oppenheimer increased their price target on WESCO International from $225.00 to $255.00 and gave the stock an "outperform" rating in a report on Friday. Loop Capital increased their price target 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 price target on WESCO International from $240.00 to $258.00 and gave the stock an "overweight" rating in a report on Friday, August 29th. Finally, Stephens downgraded WESCO International from an "overweight" rating to an "equal weight" rating and upped their price target for the stock from $190.00 to $200.00 in a research note on Wednesday, July 16th. 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. Based on data from MarketBeat, WESCO International currently has a consensus rating of "Buy" and a consensus target price of $232.67.

WESCO International Company 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).