WESCO International, Inc. (NYSE:WCC) Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc cut its stake in WESCO International, Inc. (NYSE:WCC) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 179,987 shares of the technology company’s stock after selling 6,094 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in WESCO International were worth $32,612,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WCC. V Square Quantitative Management LLC purchased a new position in WESCO International in the 3rd quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in WESCO International by 25.0% in the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock valued at $68,000 after purchasing an additional 75 shares during the last quarter. UMB Bank n.a. increased its position in shares of WESCO International by 18.3% in 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 in the last quarter. Highland Capital Management LLC acquired a new position in shares of WESCO International during the 3rd quarter worth $221,000. Finally, Innealta Capital LLC boosted its position in shares of WESCO International by 68.0% in the 3rd quarter. Innealta Capital LLC now owns 1,606 shares of the technology company’s stock worth $270,000 after buying an additional 650 shares in 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 WESCO International news, CFO David S. Schulz sold 14,938 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the completion of the transaction, the chief financial officer now owns 104,471 shares in the company, valued at approximately $21,578,485.05. The trade was a 12.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP William Clayton Geary sold 2,829 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $205.73, for a total value of $582,010.17. Following the transaction, the executive vice president now directly owns 35,063 shares in the company, valued at $7,213,510.99. This trade represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,767 shares of company stock valued at $5,567,454 in the last ninety days. Company insiders own 3.10% of the company’s stock.

WESCO International Stock Performance

Shares of WESCO International stock opened at $197.53 on Friday. The firm’s 50-day simple moving average is $193.10 and its 200-day simple moving average is $178.09. WESCO International, Inc. has a 1 year low of $132.37 and a 1 year high of $216.17. The firm has a market cap of $9.68 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.42 and a beta of 2.02. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the previous year, the firm posted $4.49 EPS. The business’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts forecast that WESCO International, Inc. will post 12.3 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $0.4125 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.65 annualized dividend and a yield of 0.84%. WESCO International’s dividend payout ratio is presently 13.21%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WCC. Oppenheimer lifted their target price on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Loop Capital lifted their price objective on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Jefferies Financial Group boosted their price target on WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, KeyCorp increased their price objective on WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $215.88.

About WESCO International

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).