LSV Asset Management Sells 32,000 Shares of WESCO International, Inc. (NYSE:WCC)

LSV Asset Management cut its stake in shares of WESCO International, Inc. (NYSE:WCC) by 18.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,000 shares of the technology company’s stock after selling 32,000 shares during the period. LSV Asset Management owned 0.28% of WESCO International worth $24,836,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WCC. Rise Advisors LLC bought a new position in shares of WESCO International in the first quarter worth approximately $26,000. Anchor Investment Management LLC bought a new position in shares of WESCO International in the fourth quarter worth approximately $48,000. GAMMA Investing LLC purchased a new stake in WESCO International in the fourth quarter worth approximately $56,000. Quent Capital LLC boosted its stake in WESCO International by 9.9% in the first quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock worth $634,000 after buying an additional 333 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. boosted its stake in 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 buying an additional 384 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors.

WESCO International Trading Up 3.0 %

Shares of NYSE:WCC traded up $4.91 during trading on Friday, reaching $170.39. 1,254,332 shares of the company traded hands, compared to its average volume of 693,745. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 14.19, a P/E/G ratio of 1.13 and a beta of 2.06. WESCO International, Inc. has a 52-week low of $122.30 and a 52-week high of $195.43. The company has a current ratio of 2.21, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The business’s fifty day moving average is $172.07 and its 200-day moving average is $167.48.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.30 billion. WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period last year, the company posted $3.75 EPS. As a group, analysts forecast that WESCO International, Inc. will post 14.07 EPS for the current year.

WESCO International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, June 14th. WESCO International’s payout ratio is 13.74%.

Insider Buying and Selling

In related news, EVP Christine Ann Wolf sold 4,486 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $190.13, for a total value of $852,923.18. Following the completion of the sale, the executive vice president now owns 30,304 shares of the company’s stock, valued at $5,761,699.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Matthew S. Kulasa sold 474 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $191.69, for a total transaction of $90,861.06. Following the sale, the chief accounting officer now directly owns 3,555 shares of the company’s stock, valued at $681,457.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christine Ann Wolf sold 4,486 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $190.13, for a total value of $852,923.18. Following the sale, the executive vice president now directly owns 30,304 shares in the company, valued at $5,761,699.52. The disclosure for this sale can be found here. Insiders sold 1,754,960 shares of company stock valued at $303,728,784 over the last quarter. 3.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on WCC. Robert W. Baird reaffirmed a “neutral” rating and issued a $195.00 target price (down previously from $200.00) on shares of WESCO International in a research note on Wednesday, May 29th. Baird R W lowered WESCO International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. StockNews.com lowered WESCO International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Loop Capital upped their target price on WESCO International from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. cut their target price on WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research note on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.17.

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).