River Road Asset Management LLC reduced its holdings in WESCO International, Inc. (NYSE:WCC – Free Report) by 62.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 217,473 shares of the technology company’s stock after selling 354,884 shares during the quarter. River Road Asset Management LLC’s holdings in WESCO International were worth $53,203,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of WCC. Greenleaf Trust raised its stake in WESCO International by 1.6% in the fourth quarter. Greenleaf Trust now owns 2,646 shares of the technology company’s stock valued at $647,000 after purchasing an additional 41 shares in the last quarter. Cornerstone Planning Group LLC raised its position in shares of WESCO International by 92.7% during the 4th quarter. Cornerstone Planning Group LLC now owns 106 shares of the technology company’s stock valued at $26,000 after buying an additional 51 shares in the last quarter. Lazard Asset Management LLC grew its position in WESCO International by 1.4% in the second quarter. Lazard Asset Management LLC now owns 4,006 shares of the technology company’s stock worth $740,000 after acquiring an additional 54 shares in the last quarter. Parallel Advisors LLC raised its position in WESCO International by 11.5% during the fourth quarter. Parallel Advisors LLC now owns 581 shares of the technology company’s stock valued at $142,000 after purchasing an additional 60 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in WESCO International by 166.0% during the third quarter. Brown Brothers Harriman & Co. now owns 133 shares of the technology company’s stock worth $28,000 after purchasing an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 93.75% of the company’s stock.
WESCO International Price Performance
Shares of WESCO International stock opened at $365.78 on Friday. WESCO International, Inc. has a 52 week low of $175.05 and a 52 week high of $377.90. The stock’s 50-day simple moving average is $342.27 and its 200-day simple moving average is $298.98. The company has a quick ratio of 1.22, a current ratio of 2.12 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $17.82 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 2.21 and a beta of 1.53.
WESCO International Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 12th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $2.00 annualized dividend and a yield of 0.5%. WESCO International’s dividend payout ratio is 14.21%.
Wall Street Analysts Forecast Growth
WCC has been the subject of several research reports. DA Davidson initiated coverage on WESCO International in a research note on Tuesday. They issued a “buy” rating and a $440.00 target price for the company. Weiss Ratings upgraded WESCO International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th. KeyCorp lifted their price objective on WESCO International from $340.00 to $415.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Barclays boosted their price objective on shares of WESCO International from $313.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Finally, Stephens raised their price objective on shares of WESCO International from $275.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $334.56.
Check Out Our Latest Analysis on WCC
Insider Buying and Selling at WESCO International
In other news, EVP Akash Khurana sold 4,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $359.13, for a total transaction of $1,436,520.00. Following the transaction, the executive vice president owned 30,775 shares in the company, valued at approximately $11,052,225.75. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christine Ann Wolf sold 2,549 shares of the business’s stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $355.25, for a total transaction of $905,532.25. Following the completion of the transaction, the executive vice president directly owned 29,570 shares of the company’s stock, valued at $10,504,742.50. This trade represents a 7.94% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 144,486 shares of company stock worth $51,846,641 over the last quarter. Insiders own 2.60% of the company’s stock.
About WESCO International
WESCO International, Inc is a leading global distributor of electrical, industrial, communications and utility products, serving a diverse customer base across maintenance, repair and operations (MRO), original equipment manufacturing (OEM) and construction markets. The company offers a comprehensive portfolio of products ranging from power distribution and automation solutions to data communications, security systems and lighting controls. Through an extensive branch network, WESCO provides critical components and value‐added services that help organizations streamline operations and improve reliability in their facilities and infrastructure.
In addition to its broad product offering, WESCO delivers advanced supply chain management and logistics solutions designed to optimize inventory levels, reduce downtime and lower overall procurement costs.
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