WESCO International (NYSE:WCC) EVP Sells $3,025,950.20 in 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 WESCO International stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $219.59, for a total value of $3,025,950.20. Following the sale, the executive vice president directly owned 48,625 shares of the company's stock, valued at $10,677,563.75. This trade represents a 22.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $210.91, for a total value of $2,339,624.63.

WESCO International Stock Performance

Shares of WESCO International stock traded up $1.04 on Tuesday, reaching $215.76. 925,504 shares of the stock were exchanged, compared to its average volume of 566,795. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19. WESCO International, Inc. has a twelve month low of $125.21 and a twelve month high of $228.35. The firm has a market capitalization of $10.50 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.65 and a beta of 1.81. The business has a 50 day moving average price of $211.79 and a two-hundred day moving average price of $181.85.

WESCO International (NYSE:WCC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.31 by $0.08. The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.82 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.WESCO International's revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.21 earnings per share. Analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Stephens cut WESCO International from an "overweight" rating to an "equal weight" rating and upped their target price for the company from $190.00 to $200.00 in a report on Wednesday, July 16th. JPMorgan Chase & Co. upped their target price on WESCO International from $205.00 to $225.00 and gave the company an "overweight" rating in a report on Thursday, September 4th. Loop Capital upped their target price on WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a report on Tuesday, August 5th. KeyCorp upped their target price on WESCO International from $240.00 to $258.00 and gave the company an "overweight" rating in a report on Friday, August 29th. Finally, Oppenheimer upped their target price on WESCO International from $225.00 to $255.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $232.67.

Institutional Investors Weigh In On WESCO International

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in WESCO International by 4.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 795,629 shares of the technology company's stock valued at $147,351,000 after purchasing an additional 36,843 shares in the last quarter. River Road Asset Management LLC raised its position in WESCO International by 56.0% in 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 purchasing an additional 217,417 shares in the last quarter. Pacer Advisors Inc. raised its position in WESCO International by 6,769.8% in the 1st quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock valued at $70,862,000 after purchasing an additional 449,648 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in WESCO International in the 2nd quarter valued at about $75,136,000. Finally, Ameriprise Financial Inc. raised its position in WESCO International by 21.2% in the 1st quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company's stock valued at $48,001,000 after purchasing an additional 54,046 shares in the last quarter. Institutional investors and hedge funds 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).