Insider Selling: WESCO International (NYSE:WCC) EVP Sells 7,000 Shares of Stock

Key Points

• WESCO International's Executive Vice President Akash Khurana sold 7,000 shares for approximately $1.46 million, reducing his ownership by 17.05%.
• The company's stock price increased by 0.9% to $211.81 following the transaction, with a market capitalization of $10.31 billion.
• WESCO reported a quarterly EPS of $3.39, exceeding estimates, and declared a quarterly dividend yielding 0.9%.

WESCO International, Inc. (NYSE:WCC - Get Free Report) EVP Akash Khurana sold 7,000 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $208.12, for a total transaction of $1,456,840.00. Following the completion of the sale, the executive vice president directly owned 34,062 shares of the company's stock, valued at $7,088,983.44. The trade was a 17.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

WESCO International Price Performance

WCC stock traded up $11.1040 during trading on Friday, hitting $222.1240. The company had a trading volume of 567,910 shares, compared to its average volume of 696,370. The firm has a market capitalization of $10.81 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.71 and a beta of 1.84. The business has a 50 day moving average of $200.02 and a 200 day moving average of $178.13. WESCO International, Inc. has a fifty-two week low of $125.21 and a fifty-two week high of $222.42. The company has a current ratio of 2.09, a quick ratio of 1.19 and a debt-to-equity ratio of 1.19.

WESCO International (NYSE:WCC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The technology company reported $3.39 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the prior year, the company posted $3.21 earnings per share. The company's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts predict that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 0.8%. WESCO International's payout ratio is 14.25%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Loop Capital boosted their price target on shares of WESCO International from $220.00 to $235.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Stephens cut shares of WESCO International from an "overweight" rating to an "equal weight" rating and boosted their price target for the stock from $190.00 to $200.00 in a research report on Wednesday, July 16th. Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 price target (up from $230.00) on shares of WESCO International in a research report on Friday, August 1st. JPMorgan Chase & Co. boosted their price target on shares of WESCO International from $180.00 to $205.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Finally, Oppenheimer dropped their price target on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, WESCO International has a consensus rating of "Buy" and an average price target of $221.78.

Institutional Trading of WESCO International

Several institutional investors and hedge funds have recently bought and sold shares of WCC. Pacer Advisors Inc. raised its holdings in 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 buying an additional 449,648 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new stake in WESCO International during the 2nd quarter worth about $75,136,000. Bank of New York Mellon Corp increased its holdings in shares of WESCO International by 88.2% in the 1st quarter. Bank of New York Mellon Corp now owns 758,786 shares of the technology company's stock valued at $117,839,000 after purchasing an additional 355,570 shares during the period. River Road Asset Management LLC increased its holdings in shares of 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 during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of WESCO International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company's stock valued at $46,148,000 after purchasing an additional 152,727 shares during the period. Institutional investors and hedge funds own 93.75% of the company's stock.

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).