WESCO International, Inc. (NYSE: WCC) Top Stock Investors Vii L. Green Acquires 9,941 Shares
WESCO International, Inc. (NYSE: WCC – Get a rating) major shareholder Equity Investors Vii L. Green acquired 9,941 shares of the company in a transaction on Thursday, September 29. The shares were purchased at an average cost of $114.78 per share, with a total value of $1,141,027.98. Following the completion of the transaction, the insider now directly owns 3,470,265 shares of the company, valued at approximately $398,317,016.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC website. Major shareholders who own 10% or more of a company’s stock are required to disclose their sales and purchases to the SEC.
WESCO International Award Performance
Shares of WCC traded down $2.10 in midday trading Thursday, hitting $116.90. The company’s stock had a trading volume of 238,848 shares, compared to an average volume of 514,691. WESCO International, Inc. has a 1-year low of $99.00 and a 1-year high of $147.05 . The company has a market capitalization of $5.93 billion, a P/E ratio of 9.67, a P/E/G ratio of 0.72 and a beta of 2.11. The company has a 50-day simple moving average of $130.65 and a 200-day simple moving average of $124.72. The company has a current ratio of 2.12, a quick ratio of 1.24 and a debt ratio of 1.23.
WESCO International (NYSE: WCC – Get a rating) last released its quarterly earnings data on Thursday, August 4. The technology company reported earnings per share of $4.19 for the quarter, beating the consensus estimate of $3.88 by $0.31. WESCO International achieved a return on equity of 19.32% and a net margin of 3.45%. The company posted revenue of $5.50 billion in the quarter, versus a consensus estimate of $5.31 billion. During the same period last year, the company posted EPS of $2.64. WESCO International’s quarterly revenue increased 19.7% year over year. Analysts expect WESCO International, Inc. to post EPS of 16.01 for the current fiscal year.
WESCO International said its board authorized a stock buyback plan on Wednesday, June 1 that sees the company repurchase $1.00 billion in stock. This repurchase authorization allows the technology company to buy up to 14.9% of its shares through open market purchases. Stock buyback plans are often a sign that the company’s board of directors thinks its stock is undervalued.
Analysts set new price targets
A number of analysts have weighed in on the company. KeyCorp raised its price target on WESCO International from $155.00 to $165.00 and gave the stock an “overweight” rating in a Thursday, September 8 research report. StockNews.com upgraded WESCO International from a “buy” rating to a “hold” rating in a Thursday, July 21 report. One equity research analyst rated the stock with a hold rating, three gave the company a buy rating and one gave the company a strong buy rating. According to MarketBeat.com, WESCO International currently has a consensus buy rating and a consensus target price of $166.25.
Hedge funds weigh on WESCO International
Hedge funds have recently been buying and selling shares of the company. Captrust Financial Advisors increased its position in WESCO International by 5.1% during the second quarter. Captrust Financial Advisors now owns 2,497 shares of the technology company worth $267,000 after buying 122 more shares in the last quarter. Colony Group LLC increased its position in WESCO International by 1.2% during the second quarter. Colony Group LLC now owns 27,017 shares of the technology company worth $2,894,000 after buying 331 additional shares last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in WESCO International during the second quarter worth $193,000. UBS Asset Management Americas Inc. increased its position in WESCO International by 29.5% during the second quarter. UBS Asset Management Americas Inc. now owns 82,766 shares of the technology company worth $8,864,000 after buying an additional 18,860 shares last quarter. Finally, Zeke Capital Advisors LLC bought a new position in WESCO International during the second quarter at a value of $283,000. 94.10% of the shares are held by hedge funds and other institutional investors.
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 and Electronic Solutions (EES), Communications and Security Solutions (CSS) and Utility and Broadband Solutions (UBS).
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