Nelson John Squires III Sells 13,780 Shares of WESCO International (NYSE:WCC) Stock

Key Points

• Nelson John Squires III, EVP of WESCO International, sold 13,780 shares at an average price of $219.59, totaling over $3 million, which reduced his ownership by 22.08%.
• The company recently reported quarterly earnings with a net margin of 2.98% and revenue of $5.90 billion, showing a 7.7% increase compared to the previous year.
• WESCO declared a quarterly dividend of $0.4538 per share, resulting in an annualized yield of 0.8%, with the ex-dividend date set for September 12th.

WESCO International, Inc. (NYSE:WCC - Get Free Report) EVP Nelson John Squires III sold 13,780 shares of the company's stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $219.59, for a total transaction of $3,025,950.20. Following the completion of the transaction, the executive vice president owned 48,625 shares in the company, valued at $10,677,563.75. This trade represents a 22.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Nelson John Squires III also recently made the following trade(s):

• On Thursday, August 14th, Nelson John Squires III sold 11,093 shares of WESCO International stock. The shares were sold at an average price of $210.91, for a total transaction of $2,339,624.63.

WESCO International Stock Performance

Shares of WCC stock traded up $5.69 on Thursday, hitting $220.49. The company's stock had a trading volume of 591,858 shares, compared to its average volume of 718,536. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. The stock's 50 day moving average is $209.96 and its 200-day moving average is $180.79. WESCO International, Inc. has a fifty-two week low of $125.21 and a fifty-two week high of $228.35. The company has a market capitalization of $10.73 billion, a PE ratio of 17.27, a PEG ratio of 1.64 and a beta of 1.81.

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, beating the consensus estimate of $3.31 by $0.08. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same period in the prior year, the company posted $3.21 earnings per share. WESCO International's revenue was up 7.7% compared to the same quarter last year. Equities research analysts expect that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, September 12th. WESCO International's dividend payout ratio is presently 14.25%.

Analyst Ratings Changes

WCC has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of WESCO International from $205.00 to $225.00 and gave the stock an "overweight" rating in a research note on Thursday, September 4th. KeyCorp increased their price objective on shares of WESCO International from $240.00 to $258.00 and gave the stock an "overweight" rating in a research note on Friday, August 29th. Oppenheimer increased their price objective on shares of WESCO International from $225.00 to $255.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Stephens downgraded shares of WESCO International from an "overweight" rating to an "equal weight" rating and increased their price objective for the stock from $190.00 to $200.00 in a research note on Wednesday, July 16th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $240.00 price objective (up from $230.00) on shares of WESCO International in a research note on Friday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, WESCO International currently has an average rating of "Buy" and an average price target of $232.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of WESCO International by 27.7% in the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company's stock worth $74,000 after acquiring an additional 104 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of WESCO International by 56.6% in the first quarter. SG Americas Securities LLC now owns 4,135 shares of the technology company's stock worth $642,000 after acquiring an additional 1,495 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of WESCO International by 3.9% in the first quarter. New York State Teachers Retirement System now owns 25,756 shares of the technology company's stock worth $4,000,000 after acquiring an additional 968 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of WESCO International by 7.9% in the first quarter. Farther Finance Advisors LLC now owns 1,337 shares of the technology company's stock worth $209,000 after acquiring an additional 98 shares during the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of WESCO International by 1,286.6% in the first quarter. Bessemer Group Inc. now owns 1,345 shares of the technology company's stock worth $209,000 after acquiring an additional 1,248 shares during the last quarter. Institutional investors own 93.75% of the company's stock.

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).

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