WESCO International, Inc. $WCC Stock Position Cut by Pzena Investment Management LLC

Pzena Investment Management LLC lowered its stake in WESCO International, Inc. (NYSE:WCC) by 46.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 38,551 shares of the technology company’s stock after selling 32,943 shares during the period. Pzena Investment Management LLC’s holdings in WESCO International were worth $13,863,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its holdings in shares of WESCO International by 28.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 23,336 shares of the technology company’s stock valued at $8,061,000 after buying an additional 5,224 shares during the period. Engineers Gate Manager LP purchased a new position in shares of WESCO International in the 2nd quarter worth $8,338,000. BlackRock Inc. bought a new stake in shares of WESCO International in the second quarter worth $3,094,634,000. Bank of America Corp DE bought a new stake in shares of WESCO International in the second quarter worth $296,304,000. Finally, Hsbc Holdings PLC bought a new stake in shares of WESCO International in the second quarter worth $8,745,000. Institutional investors own 93.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Zacks Research cut WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Wall Street Zen raised WESCO International from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Stephens raised WESCO International from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $350.00 to $400.00 in a research report on Tuesday, July 14th. Barclays boosted their price target on WESCO International from $390.00 to $437.00 and gave the company an “overweight” rating in a research note on Monday, October 12th. Finally, Royal Bank Of Canada upped their price target on shares of WESCO International from $435.00 to $450.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, WESCO International currently has a consensus rating of “Moderate Buy” and a consensus price target of $405.33.

Insiders Place Their Bets

In related news, EVP Akash Khurana sold 3,400 shares of WESCO International stock in a transaction on Monday, August 17th. The stock was sold at an average price of $366.78, for a total transaction of $1,247,052.00. Following the transaction, the executive vice president directly owned 27,404 shares in the company, valued at approximately $10,051,239.12. The trade was a 11.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Laura Thompson sold 270 shares of WESCO International stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $368.45, for a total value of $99,481.50. Following the transaction, the director directly owned 10,720 shares in the company, valued at approximately $3,949,784. The trade was a 2.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 2.60% of the stock is currently owned by company insiders.

WESCO International Stock Down 9.7%

WCC opened at $285.85 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. WESCO International, Inc. has a 1-year low of $240.55 and a 1-year high of $388.64. The company has a market capitalization of $13.93 billion, a PE ratio of 17.74, a PEG ratio of 1.72 and a beta of 1.55. The firm’s 50 day simple moving average is $348.97 and its two-hundred day simple moving average is $327.87.

WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, October 29th. The technology company reported $5.77 earnings per share for the quarter, topping the consensus estimate of $4.69 by $1.08. WESCO International had a net margin of 3.04% and a return on equity of 16.27%. The business had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $6.87 billion. During the same quarter last year, the company posted $3.92 EPS. The company’s revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts forecast that WESCO International, Inc. will post 18.39 EPS for the current year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Friday, September 11th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, September 11th. WESCO International’s dividend payout ratio (DPR) is currently 12.41%.

WESCO International Company Profile

WESCO International, Inc is a business-to-business provider of electrical, communications, security, and supply chain solutions. The company distributes products used in electrical and electronic systems, including wire and cable, lighting, circuit protection, automation and control equipment, data communications infrastructure, security products, and other electrical and industrial supplies.

WESCO serves a broad range of customers, including electrical and data communications contractors, industrial companies, original equipment manufacturers, utilities, commercial and institutional businesses, government entities, and telecommunications providers.