Diamond Hill Capital Management Inc. Lowers Holdings in WESCO International, Inc. (NYSE:WCC)

Diamond Hill Capital Management Inc. cut its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280,541 shares of the technology company's stock after selling 15,584 shares during the period. Diamond Hill Capital Management Inc. owned approximately 2.60% of WESCO International worth $215,105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. increased its position in shares of WESCO International by 71.1% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company's stock worth $26,000 after acquiring an additional 69 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in shares of WESCO International during the third quarter worth about $28,000. GAMMA Investing LLC increased its position in shares of WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company's stock worth $40,000 after acquiring an additional 100 shares in the last quarter. UMB Bank n.a. increased its position in shares of WESCO International by 18.3% during the third quarter. UMB Bank n.a. now owns 633 shares of the technology company's stock worth $106,000 after acquiring an additional 98 shares in the last quarter. Finally, Innealta Capital LLC bought a new stake in shares of WESCO International during the second quarter worth about $152,000. 93.76% of the stock is owned by institutional investors.

Insider Activity at WESCO International

In related news, EVP Nelson John Squires III sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the sale, the executive vice president now directly owns 54,621 shares in the company, valued at approximately $10,377,990. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Nelson John Squires III sold 10,000 shares of the company's stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the sale, the executive vice president now directly owns 54,621 shares in the company, valued at approximately $10,377,990. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the sale, the director now owns 27,004 shares in the company, valued at $4,632,806.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

WESCO International Stock Performance

Shares of WESCO International stock traded up $5.56 on Monday, reaching $211.34. 171,202 shares of the company traded hands, compared to its average volume of 707,623. WESCO International, Inc. has a 52 week low of $132.37 and a 52 week high of $213.41. The company has a 50 day moving average of $171.71 and a 200 day moving average of $169.19. The firm has a market capitalization of $10.36 billion, a PE ratio of 16.82, a PEG ratio of 1.69 and a beta of 2.01. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29.

WESCO International (NYSE:WCC - Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the prior year, the firm earned $4.49 EPS. The company's revenue was down 2.7% compared to the same quarter last year. Equities analysts forecast that WESCO International, Inc. will post 12.22 earnings per share for the current year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International's dividend payout ratio is currently 13.21%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WCC shares. Robert W. Baird upped their price objective on shares of WESCO International from $215.00 to $223.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Royal Bank of Canada upped their price objective on shares of WESCO International from $186.00 to $199.00 and gave the stock a "sector perform" rating in a research report on Friday, November 1st. Oppenheimer upped their price objective on shares of WESCO International from $205.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Stephens upped their price objective on shares of WESCO International from $190.00 to $205.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Baird R W raised shares of WESCO International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $208.86.

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).