First Hawaiian Bank Lowers Stock Position in WESCO International, Inc. (NYSE:WCC)

First Hawaiian Bank reduced its position in WESCO International, Inc. (NYSE:WCC) by 49.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,628 shares of the technology company’s stock after selling 2,566 shares during the quarter. First Hawaiian Bank’s holdings in WESCO International were worth $450,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Lyrical Asset Management LP lifted its position in WESCO International by 2,583.9% during the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock valued at $133,040,000 after buying an additional 736,616 shares in the last quarter. River Road Asset Management LLC acquired a new position in shares of WESCO International during the 4th quarter valued at $79,404,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in WESCO International during the 4th quarter worth $3,177,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in WESCO International in the 4th quarter valued at $2,256,000. Finally, Brevan Howard Capital Management LP purchased a new position in WESCO International in the fourth quarter valued at about $1,342,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

Insider Transactions at WESCO International

In related news, CAO Matthew S. Kulasa sold 474 shares of WESCO International 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 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 SEC, which is available at the SEC website. In related news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $173.02, for a total value of $302,785,000.00. Following the sale, the insider now directly owns 2,134,683 shares in the company, valued at approximately $369,342,852.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew S. Kulasa sold 474 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $191.69, for a total value of $90,861.06. Following the transaction, the chief accounting officer now owns 3,555 shares of the company’s stock, valued at approximately $681,457.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,754,960 shares of company stock worth $303,728,784. Insiders own 3.10% of the company’s stock.

WESCO International Stock Performance

Shares of WCC opened at $164.18 on Friday. 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, Inc. has a 12-month low of $122.30 and a 12-month high of $195.43. The business’s fifty day moving average price is $171.55 and its 200 day moving average price is $168.50. The stock has a market capitalization of $8.35 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.17 and a beta of 2.06.

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

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Friday, June 14th. WESCO International’s dividend payout ratio (DPR) is 13.74%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on WCC. Oppenheimer upped their price target on WESCO International from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. decreased their price objective on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $172.00 target price on shares of WESCO International in a research report on Thursday. KeyCorp increased their price target on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Loop Capital lifted their price objective on WESCO International from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.17.

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).