WESCO International, Inc. (NYSE:WCC) EVP Sells $2,339,624.63 in Stock

Key Points

• Nelson John Squires III, EVP of WESCO International, sold $2,339,624.63 worth of stock, significantly reducing his position by 18.58%.
• WESCO International's stock price decreased by 2.1%, closing at $206.33, with current market trends indicating analysts' mixed ratings on the stock.
• The company reported a 7.7% year-over-year revenue increase, with EPS of $3.39 for the last quarter, surpassing analyst expectations.

WESCO International, Inc. (NYSE:WCC - Get Free Report) EVP Nelson John Squires III sold 11,093 shares of WESCO International stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $210.91, for a total value of $2,339,624.63. Following the transaction, the executive vice president owned 48,625 shares of the company's stock, valued at $10,255,498.75. The trade was a 18.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

WESCO International Stock Down 2.1%

NYSE:WCC traded down $4.48 on Friday, hitting $206.33. The stock had a trading volume of 443,564 shares, compared to its average volume of 732,114. 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 has a market cap of $10.04 billion, a P/E ratio of 16.16, a price-to-earnings-growth ratio of 1.65 and a beta of 1.84. WESCO International, Inc. has a 1 year low of $125.21 and a 1 year high of $219.07. The firm's fifty day simple moving average is $195.75 and its two-hundred day simple moving average is $177.06.

WESCO International (NYSE:WCC - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share (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 firm had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same period in the previous year, the company posted $3.21 earnings per share. The business's revenue was up 7.7% on a year-over-year basis. Analysts predict that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Friday, June 13th. WESCO International's payout ratio is currently 14.25%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp boosted its position in shares of WESCO International by 4.9% during 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 acquiring an additional 36,843 shares during the last quarter. River Road Asset Management LLC boosted its position in shares of 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 during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of WESCO International by 6,769.8% during the 1st quarter. Pacer Advisors Inc. now owns 456,290 shares of the technology company's stock worth $70,862,000 after acquiring an additional 449,648 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of WESCO International during the 2nd quarter worth $75,136,000. Finally, Ameriprise Financial Inc. lifted its holdings in shares of WESCO International by 21.2% during the 1st quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company's stock worth $48,001,000 after acquiring an additional 54,046 shares during the last quarter. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

WCC has been the subject of a number of research analyst reports. KeyCorp boosted their price objective on WESCO International from $210.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Loop Capital upped their price target on shares of WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Tuesday, August 5th. JPMorgan Chase & Co. upped their price target on shares of WESCO International from $180.00 to $205.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Oppenheimer lowered 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. Finally, Stephens downgraded shares of 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 report on Wednesday, July 16th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $221.78.

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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