Vaughan Nelson Investment Management L.P. Invests $75.14 Million in WESCO International, Inc. $WCC

Vaughan Nelson Investment Management L.P. bought a new position in shares of WESCO International, Inc. (NYSE:WCC) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 405,700 shares of the technology company’s stock, valued at approximately $75,136,000.

Other hedge funds also recently made changes to their positions in the company. Whittier Trust Co. increased its holdings in shares of WESCO International by 46.8% during the first quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock worth $43,000 after purchasing an additional 89 shares during the period. Parallel Advisors LLC increased its holdings in shares of WESCO International by 21.1% during the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company’s stock worth $69,000 after purchasing an additional 78 shares during the period. GAMMA Investing LLC increased its holdings in shares of WESCO International by 27.7% during the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company’s stock worth $74,000 after purchasing an additional 104 shares during the period. NBC Securities Inc. increased its holdings in shares of WESCO International by 101,900.0% during the first quarter. NBC Securities Inc. now owns 1,020 shares of the technology company’s stock worth $158,000 after purchasing an additional 1,019 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of WESCO International by 7.9% during the first quarter. Farther Finance Advisors LLC now owns 1,337 shares of the technology company’s stock worth $209,000 after purchasing an additional 98 shares during the period. 93.75% of the stock is owned by institutional investors.

WESCO International Stock Up 1.0%

Shares of WCC opened at $215.96 on Friday. WESCO International, Inc. has a 52 week low of $125.21 and a 52 week high of $228.35. The stock has a market capitalization of $10.51 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.65 and a beta of 1.79. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. The stock has a fifty day moving average of $213.75 and a 200-day moving average of $186.07.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, July 31st. The technology company reported $3.39 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.08. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.The company had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.82 billion. During the same period in the prior year, the company earned $3.21 EPS. WESCO International’s revenue was up 7.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were issued a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, September 12th. WESCO International’s dividend payout ratio is presently 14.25%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James Financial reissued 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. Stephens cut shares of WESCO International from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $190.00 to $200.00 in a research note on Wednesday, July 16th. KeyCorp lifted their price objective on shares of WESCO International from $240.00 to $258.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. Oppenheimer lifted their price objective on shares of WESCO International from $225.00 to $255.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of WESCO International from $205.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $232.67.

Insiders Place Their Bets

In related news, EVP Nelson John Squires III sold 13,780 shares of the stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $219.59, for a total value of $3,025,950.20. Following the completion of the sale, the executive vice president directly owned 48,625 shares in the company, valued at $10,677,563.75. This represents a 22.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Diane Lazzaris sold 4,260 shares of the stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $226.77, for a total value of $966,040.20. Following the completion of the sale, the executive vice president owned 52,916 shares of the company’s stock, valued at $11,999,761.32. The trade was a 7.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,131 shares of company stock valued at $30,384,421 over the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

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).