Pacer Advisors Inc. Cuts Stake in WESCO International, Inc. (NYSE:WCC)

Pacer Advisors Inc. trimmed its position in WESCO International, Inc. (NYSE:WCC) by 22.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,236,982 shares of the technology company’s stock after selling 352,066 shares during the quarter. Pacer Advisors Inc.’s holdings in WESCO International were worth $207,788,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Quent Capital LLC boosted its holdings in shares of WESCO International by 9.9% in the 1st quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock valued at $634,000 after buying an additional 333 shares in the last quarter. Blue Edge Capital LLC acquired a new position in WESCO International during the first quarter valued at approximately $2,278,000. Redwood Investment Management LLC purchased a new stake in shares of WESCO International during the first quarter valued at approximately $639,000. Motley Fool Asset Management LLC purchased a new stake in shares of WESCO International during the first quarter valued at approximately $543,000. Finally, GAMMA Investing LLC increased 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 last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at WESCO International

In other news, CFO David S. Schulz sold 14,938 shares of the company’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total value of $3,085,443.90. Following the completion of the transaction, the chief financial officer now directly owns 104,471 shares in the company, valued at approximately $21,578,485.05. This represents a 12.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William Clayton Geary sold 2,829 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total value of $582,010.17. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,586 shares of company stock valued at $6,565,762. Company insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on WCC shares. Robert W. Baird boosted their price target on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Royal Bank of Canada upped their target price on WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a report on Friday, November 1st. Loop Capital boosted their price target on WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Stephens upped 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, November 5th. Finally, Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, WESCO International has an average rating of “Buy” and a consensus target price of $208.86.

WESCO International Trading Down 1.3 %

Shares of WESCO International stock opened at $201.84 on Thursday. WESCO International, Inc. has a 12-month low of $132.37 and a 12-month high of $213.75. The business’s 50 day moving average is $179.82 and its 200-day moving average is $171.72. 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 stock 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.

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

WESCO International Announces Dividend

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

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).