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 firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $208.12, for a total value of $1,456,840.00. Following the completion of the transaction, the executive vice president directly owned 34,062 shares in the company, valued at $7,088,983.44. The trade was a 17.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

WESCO International Stock Performance

WCC stock traded up $11.1040 during midday trading on Friday, hitting $222.1240. 567,910 shares of the company traded hands, compared to its average volume of 696,370. WESCO International, Inc. has a twelve month low of $125.21 and a twelve month high of $222.42. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 17.39, a price-to-earnings-growth ratio of 1.71 and a beta of 1.84. The company has a quick ratio of 1.19, a current ratio of 2.09 and a debt-to-equity ratio of 1.19. The business has a 50 day simple moving average of $200.02 and a 200-day simple moving average of $178.13.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $3.39 earnings per share for the quarter, topping analysts' consensus estimates of $3.31 by $0.08. The business had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $5.82 billion. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. 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 earned $3.21 earnings per share. As a group, equities 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 disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.4538 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.8%. WESCO International's payout ratio is presently 14.25%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WCC. Raymond James Financial reiterated a "strong-buy" rating and issued a $240.00 price objective (up from $230.00) on shares of WESCO International in a research note on Friday, August 1st. JPMorgan Chase & Co. lifted their price objective on WESCO International from $180.00 to $205.00 and gave the stock an "overweight" rating in a research note on Monday, August 4th. Oppenheimer dropped their target price 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. Loop Capital upped their target price on shares of WESCO International from $220.00 to $235.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Stephens lowered shares of WESCO International from an "overweight" rating to an "equal weight" rating and raised their price target for the stock from $190.00 to $200.00 in a research report on Wednesday, July 16th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $221.78.

Institutional Investors Weigh In On WESCO International

A number of institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of 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 buying an additional 36,843 shares in the last quarter. River Road Asset Management LLC lifted its stake in shares of WESCO International by 56.0% during the second 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 period. Pacer Advisors Inc. lifted its position 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 valued at $70,862,000 after purchasing an additional 449,648 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of WESCO International in the 2nd quarter valued at about $75,136,000. Finally, Ameriprise Financial Inc. boosted its stake in 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. 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).