Strs Ohio Has $6.75 Million Holdings in WESCO International, Inc. $WCC

Strs Ohio boosted its position in shares of WESCO International, Inc. (NYSE:WCC) by 12.4% in the second quarter, Holdings Channel reports. The fund owned 36,454 shares of the technology company’s stock after acquiring an additional 4,027 shares during the period. Strs Ohio’s holdings in WESCO International were worth $6,751,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in WESCO International by 27.7% during the 1st quarter. GAMMA Investing LLC now owns 479 shares of the technology company’s stock worth $74,000 after acquiring an additional 104 shares during the last quarter. New York State Teachers Retirement System lifted its position in WESCO International by 3.9% during the 1st quarter. New York State Teachers Retirement System now owns 25,756 shares of the technology company’s stock worth $4,000,000 after acquiring an additional 968 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in WESCO International during the 2nd quarter worth $75,136,000. ARGA Investment Management LP lifted its position in WESCO International by 125.5% during the 2nd quarter. ARGA Investment Management LP now owns 25,140 shares of the technology company’s stock worth $4,656,000 after acquiring an additional 13,989 shares during the last quarter. Finally, Applied Finance Capital Management LLC acquired a new position in WESCO International during the 2nd quarter worth $227,000. Institutional investors and hedge funds own 93.75% of the company’s stock.

Analyst Ratings Changes

WCC has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their target price on shares of WESCO International from $222.00 to $262.00 and gave the stock a “sector perform” rating in a research report on Friday. Weiss Ratings reissued a “hold (c+)” rating on shares of WESCO International in a research report on Wednesday, October 8th. Loop Capital boosted their target price on shares of WESCO International from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Raymond James Financial reissued a “strong-buy” rating and set a $240.00 target price (up previously from $230.00) on shares of WESCO International in a research report on Friday, August 1st. Finally, KeyCorp boosted their price objective on shares of WESCO International from $258.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.89.

Insiders Place Their Bets

In related news, CEO John Engel sold 51,051 shares of the company’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $226.17, for a total value of $11,546,204.67. Following the sale, the chief executive officer owned 475,971 shares of the company’s stock, valued at $107,650,361.07. The trade was a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Diane Lazzaris sold 4,260 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $226.77, for a total transaction of $966,040.20. Following the completion of the sale, the executive vice president directly owned 52,916 shares in the company, valued at approximately $11,999,761.32. The trade was a 7.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 136,131 shares of company stock valued at $30,384,421 over the last 90 days. Company insiders own 3.30% of the company’s stock.

WESCO International Stock Performance

NYSE:WCC opened at $259.70 on Monday. The firm’s 50-day moving average is $218.86 and its 200-day moving average is $196.57. WESCO International, Inc. has a 52-week low of $125.21 and a 52-week high of $263.37. 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 company has a market cap of $12.64 billion, a price-to-earnings ratio of 20.34, a PEG ratio of 1.77 and a beta of 1.79.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, October 30th. The technology company reported $3.92 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.17. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $5.91 billion. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.58 earnings per share. WESCO International has set its FY 2025 guidance at 13.100-13.600 EPS. Equities research analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were paid a $0.4538 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.82 dividend on an annualized basis and a yield of 0.7%. WESCO International’s payout ratio is presently 14.20%.

WESCO International Company 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).