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

Fifth Third Wealth Advisors LLC lessened its stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 51.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,115 shares of the technology company's stock after selling 2,220 shares during the quarter. Fifth Third Wealth Advisors LLC's holdings in WESCO International were worth $383,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of WCC. V Square Quantitative Management LLC bought a new position in WESCO International in the 3rd quarter valued at approximately $28,000. GAMMA Investing LLC increased its position in WESCO International by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company's stock valued at $68,000 after acquiring an additional 75 shares during the period. UMB Bank n.a. increased its position in WESCO International by 18.3% in the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company's stock valued at $106,000 after acquiring an additional 98 shares during the period. Highland Capital Management LLC acquired a new position in shares of WESCO International during the third quarter worth $221,000. Finally, Innealta Capital LLC grew its stake in shares of WESCO International by 68.0% in the third quarter. Innealta Capital LLC now owns 1,606 shares of the technology company's stock worth $270,000 after purchasing an additional 650 shares during the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on WCC shares. Jefferies Financial Group raised their target price on WESCO International from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Baird R W upgraded WESCO International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 16th. Robert W. Baird upped their target price on WESCO International from $215.00 to $223.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Royal Bank of Canada raised their price target on shares of WESCO International from $186.00 to $199.00 and gave the stock a "sector perform" rating in a report on Friday, November 1st. Finally, Stephens upped their price objective on shares of WESCO International from $190.00 to $205.00 and gave the company 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 issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, WESCO International has an average rating of "Buy" and a consensus target price of $215.88.

WESCO International Stock Performance

NYSE:WCC opened at $191.73 on Friday. 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, Inc. has a twelve month low of $132.37 and a twelve month high of $216.17. The company has a fifty day moving average of $194.08 and a 200-day moving average of $176.72. The firm has a market capitalization of $9.39 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.27 and a beta of 2.02.

WESCO International (NYSE:WCC - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.36. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The business's revenue was down 2.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.49 earnings per share. As a group, sell-side analysts anticipate that WESCO International, Inc. will post 12.3 EPS for the current year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $0.4125 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.86%. WESCO International's dividend payout ratio (DPR) is presently 13.21%.

Insider Activity

In related news, EVP Nelson John Squires III sold 10,000 shares of the firm's stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the transaction, the executive vice president now owns 54,621 shares of the company's stock, valued at approximately $10,377,990. This trade represents a 15.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David S. Schulz sold 14,938 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total value of $3,085,443.90. Following the sale, the chief financial officer now directly owns 104,471 shares of the company's stock, valued at $21,578,485.05. This represents a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 27,767 shares of company stock worth $5,567,454 over the last quarter. 3.10% of the stock is currently owned by corporate insiders.

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).