River Road Asset Management LLC Reduces Stock Holdings in WESCO International, Inc. (NYSE:WCC)

River Road Asset Management LLC lowered its holdings in shares of WESCO International, Inc. (NYSE:WCC) by 20.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 291,094 shares of the technology company’s stock after selling 74,365 shares during the quarter. River Road Asset Management LLC owned approximately 0.59% of WESCO International worth $48,898,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. raised its holdings in WESCO International by 71.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock worth $26,000 after purchasing an additional 69 shares during the period. V Square Quantitative Management LLC bought a new position in shares of WESCO International in the third quarter worth about $28,000. GAMMA Investing LLC raised its stake in shares of WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after buying an additional 100 shares during the period. UMB Bank n.a. lifted its position in shares of WESCO International by 18.3% during the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after buying an additional 98 shares in the last quarter. Finally, Innealta Capital LLC bought a new position in shares of WESCO International during the 2nd quarter valued at approximately $152,000. Institutional investors own 93.76% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on WCC shares. Loop Capital lifted their price target on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 27th. StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Monday. Oppenheimer raised their price target on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday. KeyCorp boosted their price objective on WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Stephens increased their target price on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, WESCO International has an average rating of “Buy” and an average price target of $208.86.

Insider Activity at WESCO International

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the transaction, the director now owns 27,004 shares in the company, valued at $4,632,806.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Nelson John Squires III sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the completion of the sale, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven A. Raymund sold 5,819 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the transaction, the director now owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.

WESCO International Stock Down 1.9 %

Shares of WCC opened at $184.61 on Tuesday. The business’s 50 day simple moving average is $168.15 and its 200-day simple moving average is $167.66. WESCO International, Inc. has a 1 year low of $132.37 and a 1 year high of $195.99. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of 14.78, a price-to-earnings-growth ratio of 1.55 and a beta of 2.01.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period last year, the company posted $4.49 EPS. The business’s revenue was down 2.7% on a year-over-year basis. As a group, equities analysts expect that WESCO International, Inc. will post 12.12 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s dividend payout ratio is currently 13.21%.

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).