Innealta Capital LLC Buys 650 Shares of WESCO International, Inc. (NYSE:WCC)

Innealta Capital LLC grew its stake in WESCO International, Inc. (NYSE:WCC) by 68.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,606 shares of the technology company’s stock after acquiring an additional 650 shares during the quarter. Innealta Capital LLC’s holdings in WESCO International were worth $270,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets grew its holdings in shares of WESCO International by 163.5% during the first quarter. BNP Paribas Financial Markets now owns 24,236 shares of the technology company’s stock valued at $4,151,000 after buying an additional 15,037 shares during the last quarter. Quent Capital LLC increased its holdings in shares of WESCO International by 9.9% in the 1st quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock worth $634,000 after purchasing an additional 333 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of WESCO International in the first quarter worth $463,000. Russell Investments Group Ltd. lifted its holdings in shares of WESCO International by 74.8% during the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock valued at $12,486,000 after purchasing an additional 31,200 shares in the last quarter. Finally, Motley Fool Asset Management LLC purchased a new stake in shares of WESCO International during the first quarter valued at $543,000. 93.76% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on WCC shares. Loop Capital upped their target price on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Royal Bank of Canada increased their price objective on shares of WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research report on Friday. KeyCorp lifted their target price on shares of WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer increased their price target on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday. Finally, Robert W. Baird lifted their price objective on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $206.71.

Insiders Place Their Bets

In other news, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the sale, the executive vice president now directly owns 54,621 shares in the company, valued at $10,377,990. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Nelson John Squires III sold 10,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the completion of the transaction, the executive vice president now directly owns 54,621 shares in the company, valued at $10,377,990. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.10% of the company’s stock.

WESCO International Trading Down 2.0 %

NYSE:WCC opened at $188.17 on Monday. WESCO International, Inc. has a one year low of $131.38 and a one year high of $195.99. The business has a fifty day moving average price of $168.15 and a 200-day moving average price of $167.56. The firm has a market capitalization of $9.25 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 1.59 and a beta of 2.01. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.34.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the previous year, the company posted $4.49 earnings per share. WESCO International’s revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts forecast that WESCO International, Inc. will post 12.04 EPS for the current year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s dividend payout ratio is currently 13.21%.

WESCO International 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).