Nelson John Squires III Sells 11,093 Shares of WESCO International (NYSE:WCC) 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 on Thursday, August 14th. The shares were 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 in the company, valued at $10,255,498.75. This represents a 18.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

WESCO International Stock Down 1.1%

WESCO International stock traded down $2.4130 during mid-day trading on Wednesday, hitting $209.5170. The company's stock had a trading volume of 461,440 shares, compared to its average volume of 718,455. WESCO International, Inc. has a 52-week low of $125.21 and a 52-week high of $219.07. The company has a market cap of $10.20 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 1.63 and a beta of 1.84. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.09 and a quick ratio of 1.19. The firm's 50 day moving average is $198.36 and its 200 day moving average is $177.70.

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 for the quarter, beating analysts' consensus estimates of $3.31 by $0.08. The company had revenue of $5.90 billion for 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%.The firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.21 EPS. On average, analysts anticipate 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 was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.4538 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.82 dividend on an annualized basis and a yield of 0.9%. WESCO International's dividend payout ratio is presently 14.25%.

Institutional Trading of WESCO International

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC raised its position in shares of WESCO International by 1.4% during the second quarter. Lazard Asset Management LLC now owns 4,006 shares of the technology company's stock valued at $740,000 after buying an additional 54 shares during the last quarter. Parallel Advisors LLC grew its position in WESCO International by 13.4% during the second quarter. Parallel Advisors LLC now owns 507 shares of the technology company's stock worth $94,000 after buying an additional 60 shares in the last quarter. Third Avenue Management LLC increased its stake in WESCO International by 0.6% during the first quarter. Third Avenue Management LLC now owns 14,822 shares of the technology company's stock valued at $2,302,000 after acquiring an additional 83 shares during the period. Greenleaf Trust increased its stake in WESCO International by 3.7% during the first quarter. Greenleaf Trust now owns 2,360 shares of the technology company's stock valued at $367,000 after acquiring an additional 84 shares during the period. Finally, Whittier Trust Co. raised its holdings in WESCO International by 46.8% in the 1st quarter. Whittier Trust Co. now owns 279 shares of the technology company's stock valued at $43,000 after acquiring an additional 89 shares in the last quarter. Institutional investors and hedge funds own 93.75% of the company's stock.

Wall Street Analysts Forecast Growth

WCC has been the subject of a number of research reports. Stephens lowered shares of WESCO International from an "overweight" rating to an "equal weight" rating and lifted their target price for the company from $190.00 to $200.00 in a research note on Wednesday, July 16th. Loop Capital lifted their price objective on WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. boosted their target price on WESCO International from $180.00 to $205.00 and gave the company an "overweight" rating in a research note on Monday, August 4th. Oppenheimer dropped their target price on WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $240.00 price target (up from $230.00) on shares of WESCO International in a report on Friday, August 1st. Two 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 company's stock. Based on data from MarketBeat, WESCO International has an average rating of "Buy" and a consensus target price of $221.78.

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).