Bank of New York Mellon Corp Trims Stock Holdings in WESCO International, Inc. $WCC

Bank of New York Mellon Corp lowered its holdings in WESCO International, Inc. (NYSE:WCC) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 784,596 shares of the technology company’s stock after selling 11,033 shares during the period. Bank of New York Mellon Corp owned approximately 1.61% of WESCO International worth $165,942,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Greenleaf Trust raised its holdings in WESCO International by 10.0% during the 2nd quarter. Greenleaf Trust now owns 2,597 shares of the technology company’s stock valued at $481,000 after acquiring an additional 237 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of WESCO International in the second quarter valued at $75,136,000. New York State Teachers Retirement System raised its stake in shares of WESCO International by 2.1% during the 2nd quarter. New York State Teachers Retirement System now owns 26,295 shares of the technology company’s stock valued at $4,870,000 after purchasing an additional 539 shares during the period. Applied Finance Capital Management LLC purchased a new stake in WESCO International during the 2nd quarter worth about $227,000. Finally, Foster & Motley Inc. bought a new position in WESCO International in the 2nd quarter worth about $375,000. 93.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WCC. JPMorgan Chase & Co. upped their price target on WESCO International from $260.00 to $290.00 and gave the company an “overweight” rating in a research report on Friday, January 16th. Royal Bank Of Canada raised shares of WESCO International from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $262.00 to $302.00 in a report on Wednesday, November 19th. KeyCorp raised their price target on shares of WESCO International from $300.00 to $304.00 and gave the company an “overweight” rating in a report on Monday, January 26th. Wall Street Zen lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of WESCO International in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $266.00.

WESCO International Stock Performance

NYSE WCC opened at $289.65 on Friday. WESCO International, Inc. has a 52-week low of $125.21 and a 52-week high of $294.69. The company has a fifty day moving average of $267.70 and a 200-day moving average of $237.63. The company has a market capitalization of $14.09 billion, a P/E ratio of 22.72, a P/E/G ratio of 1.86 and a beta of 1.45. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.20 and a current ratio of 2.09.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, October 30th. The technology company reported $3.92 EPS for the quarter, beating analysts’ consensus estimates of $3.75 by $0.17. WESCO International had a return on equity of 13.12% and a net margin of 2.81%.The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $5.91 billion. During the same quarter in the prior year, the firm earned $3.58 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. As a group, equities research analysts predict that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were given a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, December 12th. WESCO International’s dividend payout ratio (DPR) is presently 14.20%.

Insiders Place Their Bets

In related news, CAO Matthew S. Kulasa sold 790 shares of the stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $253.18, for a total transaction of $200,012.20. Following the transaction, the chief accounting officer owned 3,320 shares of the company’s stock, valued at approximately $840,557.60. This trade represents a 19.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Diane Lazzaris sold 7,522 shares of WESCO International stock in a transaction on Tuesday, November 4th. The stock was sold at an average price of $256.00, for a total transaction of $1,925,632.00. Following the completion of the transaction, the executive vice president owned 45,401 shares in the company, valued at approximately $11,622,656. The trade was a 14.21% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 17,036 shares of company stock valued at $4,385,254. 3.30% of the stock is currently owned by corporate insiders.

WESCO International Profile

WESCO International, Inc is a leading global distributor of electrical, industrial, communications and utility products, serving a diverse customer base across maintenance, repair and operations (MRO), original equipment manufacturing (OEM) and construction markets. The company offers a comprehensive portfolio of products ranging from power distribution and automation solutions to data communications, security systems and lighting controls. Through an extensive branch network, WESCO provides critical components and value‐added services that help organizations streamline operations and improve reliability in their facilities and infrastructure.

In addition to its broad product offering, WESCO delivers advanced supply chain management and logistics solutions designed to optimize inventory levels, reduce downtime and lower overall procurement costs.