1,976 WESCO International, Inc. $WCC Shares Acquired by Brighton Jones LLC

Brighton Jones LLC raised its stake in shares of WESCO International, Inc. (NYSE:WCC) by 116.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,667 shares of the technology company’s stock after buying an additional 1,976 shares during the quarter. Brighton Jones LLC’s holdings in WESCO International were worth $1,318,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pictet Asset Management Holding SA boosted its stake in shares of WESCO International by 4.7% in the 3rd quarter. Pictet Asset Management Holding SA now owns 7,733 shares of the technology company’s stock worth $2,781,000 after buying an additional 349 shares during the last quarter. Parallel Advisors LLC increased its position in WESCO International by 7.3% during the third quarter. Parallel Advisors LLC now owns 619 shares of the technology company’s stock valued at $223,000 after acquiring an additional 42 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its position in WESCO International by 4.4% during the third quarter. Ashton Thomas Private Wealth LLC now owns 2,327 shares of the technology company’s stock valued at $837,000 after acquiring an additional 98 shares during the last quarter. Allegiance Financial Group Advisory Services LLC lifted its holdings in WESCO International by 75.2% in the third quarter. Allegiance Financial Group Advisory Services LLC now owns 1,060 shares of the technology company’s stock valued at $381,000 after acquiring an additional 455 shares during the period. Finally, Kestra Advisory Services LLC lifted its holdings in WESCO International by 102.9% in the third quarter. Kestra Advisory Services LLC now owns 5,925 shares of the technology company’s stock valued at $2,131,000 after acquiring an additional 3,005 shares during the period. 93.75% of the stock is owned by institutional investors.

WESCO International Trading Up 0.0%

NYSE:WCC opened at $316.61 on Wednesday. WESCO International, Inc. has a one year low of $240.55 and a one year high of $388.64. The business has a fifty day moving average price of $346.92 and a 200-day moving average price of $328.24. The firm has a market capitalization of $15.41 billion, a price-to-earnings ratio of 19.65, a price-to-earnings-growth ratio of 1.72 and a beta of 1.55. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.01 and a quick ratio of 1.19.

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

WESCO International Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded WESCO International from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Weiss Ratings cut shares of WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Stephens upgraded shares of WESCO International from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $350.00 to $400.00 in a research note on Tuesday, July 14th. Zacks Research downgraded shares of WESCO International from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Barclays boosted their target price on shares of WESCO International from $390.00 to $437.00 and gave the company an “overweight” rating in a research report on Monday, October 12th. Eight analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, WESCO International currently has a consensus rating of “Moderate Buy” and an average price target of $403.86.

Insider Transactions at WESCO International

In related news, EVP Anthony S. Marino acquired 341 shares of the stock in a transaction dated Friday, November 6th. The shares were purchased at an average cost of $292.97 per share, with a total value of $99,902.77. Following the transaction, the executive vice president directly owned 1,363 shares in the company, valued at approximately $399,318.11. This represents a 33.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Indraneel Dev acquired 1,725 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The shares were bought at an average price of $291.90 per share, with a total value of $503,527.50. Following the completion of the purchase, the chief financial officer owned 18,621 shares in the company, valued at $5,435,469.90. This trade represents a 10.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.60% of the company’s stock.

About WESCO International

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.