Titleist Asset Management LLC Makes New Investment in WESCO International, Inc. (NYSE:WCC)

Titleist Asset Management LLC bought a new position in shares of WESCO International, Inc. (NYSE:WCC) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,431 shares of the technology company’s stock, valued at approximately $376,000.

Several other large investors also recently modified their holdings of the business. Atlas Capital Advisors LLC raised its position in WESCO International by 403.2% during the 1st quarter. Atlas Capital Advisors LLC now owns 1,424 shares of the technology company’s stock valued at $220,000 after purchasing an additional 1,141 shares during the last quarter. Geode Capital Management LLC lifted its stake in WESCO International by 3.8% in the first quarter. Geode Capital Management LLC now owns 615,883 shares of the technology company’s stock worth $95,179,000 after acquiring an additional 22,340 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in WESCO International by 118.5% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 11,800 shares of the technology company’s stock valued at $1,824,000 after acquiring an additional 6,400 shares in the last quarter. FORA Capital LLC purchased a new position in WESCO International during the 1st quarter valued at $1,728,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in WESCO International by 1.1% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 189,580 shares of the technology company’s stock worth $29,298,000 after purchasing an additional 2,147 shares in the last quarter. 99.15% of the stock is owned by institutional investors.

WESCO International Price Performance

Shares of NYSE:WCC opened at $154.04 on Thursday. The company has a market capitalization of $7.92 billion, a PE ratio of 10.21, a PEG ratio of 1.02 and a beta of 2.02. The business has a fifty day moving average price of $163.83 and a 200-day moving average price of $154.41. WESCO International, Inc. has a 1-year low of $112.08 and a 1-year high of $185.23. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.40 and a quick ratio of 1.40.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $3.71 earnings per share for the quarter, missing analysts’ consensus estimates of $4.45 by ($0.74). WESCO International had a net margin of 3.81% and a return on equity of 19.97%. The firm had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same quarter in the prior year, the business posted $4.19 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. As a group, equities analysts expect that WESCO International, Inc. will post 15.35 EPS for the current fiscal year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.50 annualized dividend and a yield of 0.97%. WESCO International’s dividend payout ratio is 9.94%.

Insiders Place Their Bets

In other news, Director Easwaran Sundaram sold 1,052 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $152.83, for a total transaction of $160,777.16. Following the transaction, the director now directly owns 9,461 shares of the company’s stock, valued at $1,445,924.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Easwaran Sundaram sold 1,052 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $152.83, for a total transaction of $160,777.16. Following the completion of the transaction, the director now directly owns 9,461 shares of the company’s stock, valued at $1,445,924.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nelson John Squires III sold 3,490 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $180.00, for a total transaction of $628,200.00. Following the transaction, the executive vice president now owns 66,147 shares in the company, valued at approximately $11,906,460. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,033 shares of company stock valued at $1,399,902. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

WCC has been the topic of several research analyst reports. KeyCorp reduced their price target on shares of WESCO International from $210.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, August 4th. Oppenheimer dropped their price target on WESCO International from $190.00 to $185.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. JPMorgan Chase & Co. decreased their price objective on WESCO International from $170.00 to $155.00 and set a “neutral” rating for the company in a report on Monday, August 7th. StockNews.com initiated coverage on shares of WESCO International in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Royal Bank of Canada decreased their price target on shares of WESCO International from $214.00 to $189.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.75.

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).