WESCO International (NYSE:WCC) EVP Acquires $99,902.77 in Stock

Key Points

• WESCO EVP Anthony Marino bought 341 shares for about $99,903 at an average price of $292.97, increasing his direct ownership by 33.37% to 1,363 shares.
• WESCO beat quarterly expectations, reporting EPS of $5.77 versus $4.69 estimated and revenue of $7.23 billion versus $6.87 billion expected; revenue grew 16.6% year over year.
• Analysts’ consensus is “Moderate Buy”, with an average price target of $403.86. Shares traded at $316.25 in the report, and the company pays a quarterly dividend of $0.50 per share.

WESCO International, Inc. (NYSE:WCC - Get Free Report) EVP Anthony Marino purchased 341 shares of the company's stock in a transaction dated Friday, November 6th. The shares were purchased at an average cost of $292.97 per share, for a total transaction of $99,902.77. Following the transaction, the executive vice president directly owned 1,363 shares in the company, valued at approximately $399,318.11. The trade was a 33.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

WESCO International Stock Performance

Shares of WCC stock traded up $23.57 on Monday, hitting $316.25. 862,868 shares of the stock were exchanged, compared to its average volume of 616,056. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $15.41 billion, a PE ratio of 19.63, a P/E/G ratio of 1.59 and a beta of 1.55. WESCO International, Inc. has a one year low of $240.55 and a one year high of $388.64. The firm's 50 day moving average is $347.80 and its two-hundred day moving average is $327.95.

WESCO International (NYSE:WCC - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The technology company reported $5.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.69 by $1.08. The business had revenue of $7.23 billion for the quarter, compared to analysts' expectations of $6.87 billion. WESCO International had a return on equity of 16.27% and a net margin of 3.04%. The firm's quarterly revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the business posted $3.92 EPS. Sell-side analysts expect that WESCO International, Inc. will post 18.39 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were paid a $0.50 dividend. The ex-dividend date was Friday, September 11th. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. WESCO International's dividend payout ratio (DPR) is presently 12.41%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Barclays upped their price target on shares of WESCO International from $390.00 to $437.00 and gave the company an "overweight" rating in a research note on Monday, October 12th. Royal Bank Of Canada lifted their price objective on shares of WESCO International from $435.00 to $450.00 and gave the company an "outperform" rating in a research note on Friday, October 30th. Wall Street Zen raised shares of WESCO International from a "hold" rating to a "buy" rating in a report on Saturday, October 24th. Weiss Ratings downgraded WESCO International from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, October 23rd. Finally, Zacks Research downgraded WESCO International from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 19th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $403.86.

Institutional Investors Weigh In On WESCO International

A number of institutional investors and hedge funds have recently bought and sold shares of WCC. BlackRock Inc. bought a new stake in WESCO International in the 2nd quarter worth approximately $3,094,634,000. Bank of New York Mellon Corp boosted its stake in WESCO International by 10.3% in the first quarter. Bank of New York Mellon Corp now owns 907,473 shares of the technology company's stock worth $248,303,000 after buying an additional 84,905 shares in the last quarter. Bank of America Corp DE bought a new position in WESCO International during the second quarter valued at approximately $296,304,000. Alyeska Investment Group L.P. grew its position in WESCO International by 16.2% during the second quarter. Alyeska Investment Group L.P. now owns 653,591 shares of the technology company's stock valued at $225,770,000 after acquiring an additional 91,321 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of WESCO International during the second quarter worth approximately $175,189,000. 93.75% of the stock is owned by hedge funds and other institutional investors.

About WESCO International

WESCO International is a business-to-business distributor of electrical, communications, utility and industrial products. Its offerings include wire and cable, lighting, electrical equipment, networking and security systems, and supplies used in maintenance, repair and operations.

The company also provides services such as procurement, inventory management, logistics, project support and supply-chain consulting. Its customers include contractors, manufacturers, utilities, communications providers, government organizations and commercial businesses.

WESCO serves customers in the United States and internationally.

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