WESCO International, Inc. (NYSE:WCC – Get Free Report) EVP Hemant Porwal sold 4,445 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $363.21, for a total transaction of $1,614,468.45. Following the completion of the transaction, the executive vice president owned 16,618 shares of the company’s stock, valued at $6,035,823.78. This trade represents a 21.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Hemant Porwal also recently made the following trade(s):
- On Wednesday, May 6th, Hemant Porwal sold 2,770 shares of WESCO International stock. The shares were sold at an average price of $360.64, for a total transaction of $998,972.80.
WESCO International Price Performance
Shares of WCC stock opened at $360.15 on Thursday. The company has a market capitalization of $17.54 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.29 and a beta of 1.54. The firm has a fifty day simple moving average of $296.22 and a 200-day simple moving average of $279.71. The company has a current ratio of 2.12, a quick ratio of 1.22 and a debt-to-equity ratio of 1.13. WESCO International, Inc. has a twelve month low of $161.70 and a twelve month high of $371.67.
WESCO International Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. This is a boost from WESCO International’s previous quarterly dividend of $0.45. The ex-dividend date was Friday, March 13th. WESCO International’s payout ratio is currently 14.21%.
Wall Street Analyst Weigh In
Several analysts recently issued reports on the stock. Barclays upped their price target on shares of WESCO International from $313.00 to $375.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Royal Bank Of Canada upped their price target on shares of WESCO International from $352.00 to $411.00 and gave the company an “outperform” rating in a report on Friday, May 1st. JPMorgan Chase & Co. upped their price target on shares of WESCO International from $260.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Wall Street Zen cut shares of WESCO International from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Finally, Weiss Ratings raised shares of WESCO International from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $321.38.
Institutional Trading of WESCO International
A number of institutional investors and hedge funds have recently modified their holdings of WCC. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of WESCO International by 19.5% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 686,630 shares of the technology company’s stock worth $145,222,000 after purchasing an additional 111,930 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of WESCO International by 10.3% during the first quarter. Bank of New York Mellon Corp now owns 907,473 shares of the technology company’s stock worth $248,303,000 after purchasing an additional 84,905 shares during the period. Public Employees Retirement Association of Colorado raised its holdings in shares of WESCO International by 1,674.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 88,645 shares of the technology company’s stock worth $21,686,000 after purchasing an additional 83,650 shares during the period. Van Lanschot Kempen Investment Management N.V. raised its holdings in shares of WESCO International by 74.8% during the fourth quarter. Van Lanschot Kempen Investment Management N.V. now owns 186,012 shares of the technology company’s stock worth $45,506,000 after purchasing an additional 79,612 shares during the period. Finally, Davis Selected Advisers raised its holdings in shares of WESCO International by 24.6% during the fourth quarter. Davis Selected Advisers now owns 364,502 shares of the technology company’s stock worth $89,172,000 after purchasing an additional 71,932 shares during the period. 93.75% of the stock is owned by institutional investors and hedge funds.
WESCO International Company Profile
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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