Fifth Third Wealth Advisors LLC Lowers Stake in WESCO International, Inc. (NYSE:WCC)

Fifth Third Wealth Advisors LLC cut its position in WESCO International, Inc. (NYSE:WCC) by 51.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,115 shares of the technology company’s stock after selling 2,220 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in WESCO International were worth $383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of WESCO International by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock worth $68,000 after purchasing an additional 75 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in WESCO International in the 3rd quarter worth approximately $592,000. Geode Capital Management LLC grew its holdings in WESCO International by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock valued at $128,143,000 after buying an additional 22,080 shares in the last quarter. MetLife Investment Management LLC raised its position in shares of WESCO International by 0.4% during the third quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company’s stock valued at $3,881,000 after buying an additional 85 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of WESCO International by 80.4% in the third quarter. BNP Paribas Financial Markets now owns 12,034 shares of the technology company’s stock worth $2,021,000 after buying an additional 5,363 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors.

Insider Transactions at WESCO International

In other WESCO International news, CFO David S. Schulz sold 14,938 shares of the company’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 sale, the chief financial officer now owns 104,471 shares in the company, valued at $21,578,485.05. This represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP William Clayton Geary sold 2,829 shares of the 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 sale, 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,767 shares of company stock valued at $5,567,454. Company insiders own 3.10% of the company’s stock.

WESCO International Trading Down 1.0 %

Shares of NYSE WCC opened at $191.73 on Friday. WESCO International, Inc. has a twelve month low of $132.37 and a twelve month high of $216.17. The firm has a market cap of $9.40 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 1.27 and a beta of 2.02. The business has a fifty day simple moving average of $194.08 and a two-hundred day simple moving average of $176.72. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99.

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

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 dividend yield of 0.86%. WESCO International’s payout ratio is presently 13.21%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WCC. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Oppenheimer upped their price target on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Loop Capital raised their price objective on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. StockNews.com raised WESCO International from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Stephens raised their price target on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, WESCO International currently has a consensus rating of “Buy” and a consensus target price 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).