River Road Asset Management LLC Sells 74,365 Shares of WESCO International, Inc. (NYSE:WCC)

River Road Asset Management LLC cut its stake in shares of WESCO International, Inc. (NYSE:WCC) by 20.3% during the third quarter, HoldingsChannel.com reports. 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’s holdings in WESCO International were worth $48,898,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. grew its stake in WESCO International by 71.1% in the second 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 in the last quarter. V Square Quantitative Management LLC bought a new position in shares of WESCO International during the 3rd quarter worth $28,000. GAMMA Investing LLC increased its position in WESCO International by 65.4% during the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares during the period. UMB Bank n.a. increased its holdings in WESCO International by 18.3% during the third 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 during the period. Finally, Innealta Capital LLC purchased a new position in shares of WESCO International in the 2nd quarter valued at $152,000. Institutional investors own 93.76% of the company’s stock.

WESCO International Stock Down 1.9 %

Shares of WCC opened at $184.61 on Tuesday. The stock’s 50-day moving average price is $168.15 and its 200-day moving average price is $167.66. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 14.78, a PEG ratio of 1.55 and a beta of 2.01. WESCO International, Inc. has a 52 week low of $132.37 and a 52 week high of $195.99.

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 for the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter last year, the company earned $4.49 EPS. The business’s revenue was down 2.7% on a year-over-year basis. On average, sell-side analysts predict that WESCO International, Inc. will post 12.12 EPS for the current year.

WESCO International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $0.4125 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.89%. WESCO International’s dividend payout ratio (DPR) is currently 13.21%.

Wall Street Analyst Weigh In

WCC has been the subject of several analyst reports. KeyCorp increased their price target on shares of WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday. StockNews.com upgraded shares of WESCO International from a “hold” rating to a “buy” rating in a research note on Monday. Stephens lifted their price target on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday. Oppenheimer increased their price objective on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday. Finally, Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, WESCO International currently has a consensus rating of “Buy” and a consensus target price of $208.86.

Insider Transactions at WESCO International

In related news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the transaction, the executive vice president now owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was 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 in the company, valued at $4,632,806.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Nelson John Squires III sold 10,000 shares of the business’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 value of $1,900,000.00. Following the sale, the executive vice president now owns 54,621 shares of the company’s stock, valued at $10,377,990. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

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).