LSV Asset Management Lowers Stock Holdings in WESCO International, Inc. (NYSE:WCC)

LSV Asset Management lessened its position in WESCO International, Inc. (NYSE:WCC) by 18.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,000 shares of the technology company’s stock after selling 32,000 shares during the quarter. LSV Asset Management’s holdings in WESCO International were worth $24,836,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in WCC. Anchor Investment Management LLC acquired a new stake in shares of WESCO International in the fourth quarter valued at approximately $48,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of WESCO International during the fourth quarter worth $2,256,000. Richelieu Gestion SA purchased a new position in shares of WESCO International during the fourth quarter worth $122,000. Farmers & Merchants Investments Inc. boosted its position in shares of WESCO International by 0.4% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 190,759 shares of the technology company’s stock worth $33,169,000 after buying an additional 790 shares during the period. Finally, New York State Teachers Retirement System boosted its position in shares of WESCO International by 30.7% during the fourth quarter. New York State Teachers Retirement System now owns 26,278 shares of the technology company’s stock worth $4,569,000 after buying an additional 6,170 shares during the period. Hedge funds and other institutional investors own 93.76% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Matthew S. Kulasa sold 474 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $191.69, for a total value of $90,861.06. Following the completion of the sale, the chief accounting officer now owns 3,555 shares in the company, valued at $681,457.95. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other WESCO International news, CAO Matthew S. Kulasa sold 474 shares of the business’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $191.69, for a total transaction of $90,861.06. Following the sale, the chief accounting officer now directly owns 3,555 shares in the company, valued at approximately $681,457.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christine Ann Wolf sold 4,486 shares of the company’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $190.13, for a total transaction of $852,923.18. Following the transaction, the executive vice president now owns 30,304 shares in the company, valued at $5,761,699.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,754,960 shares of company stock worth $303,728,784. 3.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WCC has been the subject of several recent research reports. Oppenheimer lifted their price objective on WESCO International from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Robert W. Baird reiterated a “neutral” rating and set a $195.00 price target (down previously from $200.00) on shares of WESCO International in a report on Wednesday, May 29th. Loop Capital raised their price objective on shares of WESCO International from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, May 6th. StockNews.com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. cut their price target on WESCO International from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, WESCO International has an average rating of “Moderate Buy” and a consensus price target of $191.17.

WESCO International Stock Performance

Shares of WCC stock traded up $4.91 during trading hours on Friday, hitting $170.39. The stock had a trading volume of 1,254,332 shares, compared to its average volume of 693,745. The stock’s 50 day moving average is $172.07 and its 200 day moving average is $167.48. The firm has a market capitalization of $8.66 billion, a PE ratio of 14.19, a PEG ratio of 1.13 and a beta of 2.06. WESCO International, Inc. has a twelve month low of $122.30 and a twelve month high of $195.43. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.21 and a quick ratio of 1.33.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.13). The business had revenue of $5.35 billion for the quarter, compared to analyst estimates of $5.30 billion. WESCO International had a return on equity of 15.10% and a net margin of 3.08%. WESCO International’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company posted $3.75 EPS. As a group, research analysts forecast that WESCO International, Inc. will post 14.07 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.4125 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.65 annualized dividend and a yield of 0.97%. WESCO International’s dividend payout ratio is currently 13.74%.

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).