Steven A. Raymund Sells 5,819 Shares of WESCO International, Inc. (NYSE:WCC) Stock

WESCO International, Inc. (NYSE:WCC) Director Steven A. Raymund sold 5,819 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the transaction, the director now directly owns 27,004 shares in the company, valued at $4,632,806.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

WESCO International Trading Down 0.3 %

Shares of WCC stock opened at $171.58 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28. WESCO International, Inc. has a fifty-two week low of $122.30 and a fifty-two week high of $195.43. The company has a market cap of $8.72 billion, a PE ratio of 14.29, a P/E/G ratio of 1.38 and a beta of 2.03. The stock’s fifty day moving average price is $161.63 and its two-hundred day moving average price is $166.36.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.27). WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The business had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.55 billion. During the same period in the previous year, the firm posted $3.71 EPS. The firm’s revenue was down 4.6% compared to the same quarter last year. Equities analysts predict that WESCO International, Inc. will post 12.14 EPS for the current fiscal year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.4125 per share. The ex-dividend date is Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.96%. WESCO International’s dividend payout ratio is currently 13.74%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on WCC shares. Robert W. Baird cut their price objective on shares of WESCO International from $195.00 to $172.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Stephens reaffirmed an “overweight” rating and set a $190.00 target price on shares of WESCO International in a report on Monday, August 5th. StockNews.com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. KeyCorp lowered their price objective on WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Royal Bank of Canada upped their target price on WESCO International from $171.00 to $187.00 and gave the company a “sector perform” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.86.

Institutional Trading of WESCO International

Hedge funds and other institutional investors have recently made changes to their positions in the company. Lyrical Asset Management LP boosted its position in WESCO International by 2,583.9% during the 4th quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock worth $133,040,000 after buying an additional 736,616 shares during the period. Hudson Edge Investment Partners Inc. grew its stake in shares of WESCO International by 16.3% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 2,733 shares of the technology company’s stock worth $475,000 after purchasing an additional 384 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in WESCO International in the fourth quarter valued at $1,342,000. Rise Advisors LLC bought a new position in WESCO International during the 1st quarter worth $26,000. Finally, Polianta Ltd grew its position in shares of WESCO International by 31.5% in the 1st quarter. Polianta Ltd now owns 7,100 shares of the technology company’s stock valued at $1,216,000 after buying an additional 1,700 shares during the last quarter. 93.76% of the stock is currently owned by institutional investors.

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).