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 the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $224.84, for a total transaction of $1,046,855.04. Following the completion of the transaction, the executive vice president owned 19,141 shares of the company's stock, valued at $4,303,662.44. This represents a 19.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 Down 0.4%

Shares of NYSE:WCC traded down $0.93 during midday trading on Tuesday, reaching $218.91. The company had a trading volume of 727,093 shares, compared to its average volume of 720,806. 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, Inc. has a 1-year low of $125.21 and a 1-year high of $228.35. The firm has a market cap of $10.65 billion, a price-to-earnings ratio of 17.14, a price-to-earnings-growth ratio of 1.69 and a beta of 1.81. The company has a fifty day simple moving average of $205.73 and a two-hundred day simple moving average of $179.47.

WESCO International (NYSE:WCC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share 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 analyst estimates of $5.82 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.WESCO International's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.21 earnings per share. Research analysts predict that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, September 12th. WESCO International's dividend payout ratio (DPR) is 14.25%.

Hedge Funds Weigh In On WESCO International

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of WESCO International from $180.00 to $205.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Oppenheimer decreased their price target on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a report on Monday, May 5th. Stephens cut shares of WESCO International from an "overweight" rating to an "equal weight" rating and upped their price target for the company from $190.00 to $200.00 in a report on Wednesday, July 16th. Loop Capital upped their price target 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. Finally, KeyCorp upped their price target on shares of WESCO International from $240.00 to $258.00 and gave the company an "overweight" rating in a report on Friday. Two equities research 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 stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $223.78.

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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