Pacer Advisors Inc. Sells 352,066 Shares of WESCO International, Inc. (NYSE:WCC)

Pacer Advisors Inc. lowered its holdings in WESCO International, Inc. (NYSE:WCC) by 22.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,236,982 shares of the technology company’s stock after selling 352,066 shares during the quarter. Pacer Advisors Inc. owned about 2.52% of WESCO International worth $207,788,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Clearbridge Investments LLC acquired a new position in shares of WESCO International during the second quarter valued at $52,782,000. Thompson Siegel & Walmsley LLC increased its holdings in shares of WESCO International by 341.8% in the third quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock worth $43,420,000 after acquiring an additional 199,975 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of WESCO International in the second quarter worth about $5,916,000. Harbor Capital Advisors Inc. grew its holdings in shares of WESCO International by 142.8% during the third quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock worth $5,050,000 after buying an additional 17,682 shares in the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of WESCO International by 128.3% during the third quarter. Van ECK Associates Corp now owns 29,666 shares of the technology company’s stock worth $5,182,000 after buying an additional 16,673 shares in the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

Insider Activity at WESCO International

In other news, EVP William Clayton Geary sold 2,829 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total transaction of $582,010.17. Following the transaction, the executive vice president now directly owns 35,063 shares of the company’s stock, valued at approximately $7,213,510.99. This trade represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David S. Schulz sold 14,938 shares of WESCO International stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the transaction, the chief financial officer now directly owns 104,471 shares in the company, valued at approximately $21,578,485.05. The trade was a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,586 shares of company stock valued at $6,565,762 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

WESCO International Trading Down 1.3 %

NYSE:WCC opened at $201.84 on Thursday. The company has a market cap of $9.89 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.67 and a beta of 2.01. The stock’s fifty day moving average price is $179.82 and its two-hundred day moving average price is $171.72. WESCO International, Inc. has a 1 year low of $132.37 and a 1 year high of $213.75. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the prior year, the firm earned $4.49 earnings per share. The firm’s revenue was down 2.7% on a year-over-year basis. As a group, analysts expect that WESCO International, Inc. will post 12.22 EPS for the current year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.4125 per share. The ex-dividend date was Friday, September 13th. This represents a $1.65 annualized dividend and a dividend yield of 0.82%. WESCO International’s payout ratio is 13.21%.

Analysts Set New Price Targets

A number of research firms have weighed in on WCC. Stephens raised their price target on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Robert W. Baird lifted their price target on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Loop Capital raised their price objective on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Oppenheimer lifted their price target on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada lifted their price target on WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, WESCO International currently has an average rating of “Buy” and a consensus target price of $208.86.

WESCO International 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).