WESCO International, Inc. (NYSE:WCC) Shares Sold by Venator Management LLC

Venator Management LLC trimmed its stake in WESCO International, Inc. (NYSE:WCC) by 9.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,686 shares of the technology company’s stock after selling 3,169 shares during the quarter. WESCO International makes up 1.5% of Venator Management LLC’s portfolio, making the stock its 15th biggest holding. Venator Management LLC owned approximately 0.06% of WESCO International worth $4,864,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lyrical Asset Management LP raised its stake in WESCO International by 2,583.9% in the 4th quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock valued at $133,040,000 after purchasing an additional 736,616 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of WESCO International in the second quarter valued at approximately $5,916,000. Russell Investments Group Ltd. lifted its stake in shares of WESCO International by 74.8% during the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock valued at $12,486,000 after buying an additional 31,200 shares during the period. Hosking Partners LLP boosted its position in WESCO International by 68.6% during the first quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock worth $10,889,000 after acquiring an additional 25,864 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in WESCO International by 163.5% in the 1st quarter. BNP Paribas Financial Markets now owns 24,236 shares of the technology company’s stock worth $4,151,000 after acquiring an additional 15,037 shares during the period. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WCC has been the topic of several analyst reports. Robert W. Baird decreased their price objective on WESCO International from $195.00 to $172.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Loop Capital lowered their price target on WESCO International from $200.00 to $190.00 and set a “buy” rating for the company in a report on Tuesday, August 6th. StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. KeyCorp decreased their target price on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Royal Bank of Canada dropped their price target on shares of WESCO International from $175.00 to $171.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $184.71.

WESCO International Trading Down 0.6 %

NYSE WCC opened at $166.65 on Thursday. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.35 and a beta of 2.03. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28. WESCO International, Inc. has a one year low of $122.30 and a one year high of $195.43. The company’s 50 day moving average price is $162.01 and its 200 day moving average price is $165.77.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The business had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted $3.71 EPS. On average, sell-side analysts predict that WESCO International, Inc. will post 12.17 EPS for the current year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.4125 dividend. This represents a $1.65 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International’s payout ratio is 13.74%.

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).