170,445 WESCO International, Inc. $WCC Shares Sold by New South Capital Management Inc.

New South Capital Management Inc. reduced its position in shares of WESCO International, Inc. (NYSE:WCC) by 33.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 341,629 shares of the technology company’s stock after selling 170,445 shares during the quarter. WESCO International makes up about 8.4% of New South Capital Management Inc.’s holdings, making the stock its 2nd biggest holding. New South Capital Management Inc. owned about 0.70% of WESCO International worth $122,846,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WCC. BlackRock Inc. bought a new stake in WESCO International in the 2nd quarter worth $3,094,634,000. Bank of America Corp DE bought a new position in shares of WESCO International during the second quarter valued at about $296,304,000. Bank of New York Mellon Corp bought a new position in shares of WESCO International during the second quarter valued at about $249,503,000. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of WESCO International during the second quarter valued at about $175,189,000. Finally, Nykredit A S purchased a new stake in shares of WESCO International during the second quarter worth about $154,034,000. 93.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays raised their target price on WESCO International from $437.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday. Weiss Ratings lowered WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, October 23rd. Royal Bank Of Canada increased their price objective on WESCO International from $435.00 to $450.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Wall Street Zen upgraded WESCO International from a “hold” rating to a “buy” rating in a research report on Saturday, October 24th. Finally, Zacks Research lowered WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $405.71.

Insider Buying and Selling at WESCO International

In other news, CFO Indraneel Dev bought 1,725 shares of the firm’s stock in a transaction dated Thursday, November 5th. The stock was purchased at an average price of $291.90 per share, with a total value of $503,527.50. Following the transaction, the chief financial officer owned 18,621 shares of the company’s stock, valued at approximately $5,435,469.90. The trade was a 10.21% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Akash Khurana sold 3,400 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $366.78, for a total value of $1,247,052.00. Following the completion of the transaction, the executive vice president owned 27,404 shares of the company’s stock, valued at approximately $10,051,239.12. The trade was a 11.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 2.60% of the company’s stock.

WESCO International Trading Up 3.6%

NYSE:WCC opened at $328.21 on Thursday. The company has a 50-day moving average price of $346.87 and a 200-day moving average price of $328.45. WESCO International, Inc. has a 12 month low of $240.55 and a 12 month high of $388.64. The company has a current ratio of 2.01, a quick ratio of 1.19 and a debt-to-equity ratio of 1.10. The stock has a market cap of $15.97 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 1.72 and a beta of 1.55.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, October 29th. The technology company reported $5.77 earnings per share for the quarter, beating analysts’ consensus estimates of $4.69 by $1.08. WESCO International had a net margin of 3.04% and a return on equity of 16.27%. The firm had revenue of $7.23 billion for the quarter, compared to analyst estimates of $6.87 billion. During the same quarter in the previous year, the firm posted $3.92 EPS. The company’s revenue for the quarter was up 16.6% compared to the same quarter last year. Equities analysts predict that WESCO International, Inc. will post 18.39 EPS for the current year.

WESCO International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Friday, September 11th. WESCO International’s payout ratio is presently 12.41%.

WESCO International Profile

WESCO International is a business-to-business distributor of electrical, communications, utility and industrial products. Its offerings include wire and cable, lighting, electrical equipment, networking and security systems, and supplies used in maintenance, repair and operations. The company also provides services such as procurement, inventory management, logistics, project support and supply-chain consulting. Its customers include contractors, manufacturers, utilities, communications providers, government organizations and commercial businesses.