Susquehanna Fundamental Investments LLC purchased a new position in WESCO International, Inc. (NYSE:WCC – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,493 shares of the technology company’s stock, valued at approximately $2,243,000.
Several other large investors also recently made changes to their positions in WCC. Trust Point Inc. increased its holdings in shares of WESCO International by 4.5% during the 2nd quarter. Trust Point Inc. now owns 771 shares of the technology company’s stock valued at $266,000 after acquiring an additional 33 shares during the last quarter. Sheets Smith Wealth Management lifted its holdings in WESCO International by 2.2% in the 2nd quarter. Sheets Smith Wealth Management now owns 1,565 shares of the technology company’s stock worth $541,000 after purchasing an additional 34 shares during the last quarter. Cornerstone Planning Group LLC boosted its position in WESCO International by 92.7% during the fourth quarter. Cornerstone Planning Group LLC now owns 106 shares of the technology company’s stock worth $26,000 after purchasing an additional 51 shares during the period. Bessemer Group Inc. boosted its position in WESCO International by 2.4% during the first quarter. Bessemer Group Inc. now owns 2,214 shares of the technology company’s stock worth $606,000 after purchasing an additional 51 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in WESCO International by 1.4% during the second quarter. Lazard Asset Management LLC now owns 4,006 shares of the technology company’s stock valued at $740,000 after purchasing an additional 54 shares during the last quarter. Institutional investors own 93.75% of the company’s stock.
WESCO International Stock Down 2.7%
Shares of WCC stock opened at $331.16 on Wednesday. WESCO International, Inc. has a 12 month low of $203.40 and a 12 month high of $385.37. The company has a quick ratio of 1.23, a current ratio of 2.09 and a debt-to-equity ratio of 1.13. The firm has a market cap of $16.14 billion, a PE ratio of 22.89, a price-to-earnings-growth ratio of 2.02 and a beta of 1.53. The stock has a 50 day moving average of $340.99 and a 200-day moving average of $324.73.
WESCO International Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, September 11th. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. WESCO International’s payout ratio is presently 13.82%.
Wall Street Analyst Weigh In
WCC has been the topic of a number of recent analyst reports. Zacks Research raised shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Weiss Ratings upgraded shares of WESCO International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Barclays lifted their target price on shares of WESCO International from $376.00 to $390.00 and gave the stock an “overweight” rating in a report on Monday, August 3rd. Stephens upgraded shares of WESCO International from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $350.00 to $400.00 in a report on Tuesday, July 14th. Finally, Wall Street Zen downgraded WESCO International from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $374.29.
Get Our Latest Analysis on WCC
Insider Activity
In other news, EVP Daniel J. Castillo purchased 960 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were purchased at an average cost of $365.89 per share, for a total transaction of $351,254.40. Following the completion of the purchase, the executive vice president directly owned 16,305 shares of the company’s stock, valued at approximately $5,965,836.45. The trade was a 6.26% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Laura K. Thompson sold 270 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $368.45, for a total value of $99,481.50. Following the completion of the transaction, the director directly owned 10,720 shares of the company’s stock, valued at approximately $3,949,784. This trade represents a 2.46% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is owned by company insiders.
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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