Scissortail Wealth Management LLC Makes New $825,000 Investment in WESCO International, Inc. (NYSE:WCC)

Scissortail Wealth Management LLC purchased a new position in shares of WESCO International, Inc. (NYSE:WCC) during the fourth quarter, Holdings Channel.com reports. The firm purchased 4,735 shares of the technology company’s stock, valued at approximately $825,000.

Other large investors also recently modified their holdings of the company. KB Financial Partners LLC lifted its holdings in shares of WESCO International by 76.8% in the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after purchasing an additional 86 shares in the last quarter. Park Place Capital Corp lifted its stake in WESCO International by 41.3% during the 3rd quarter. Park Place Capital Corp now owns 294 shares of the technology company’s stock valued at $42,000 after acquiring an additional 86 shares in the last quarter. Anchor Investment Management LLC bought a new position in WESCO International during the 4th quarter valued at $48,000. Fred Alger Management LLC bought a new position in WESCO International during the 3rd quarter valued at $60,000. Finally, Richelieu Gestion SA bought a new position in WESCO International during the 4th quarter valued at $122,000. 93.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WCC has been the topic of several recent analyst reports. Robert W. Baird dropped their price objective on WESCO International from $203.00 to $170.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. KeyCorp raised their price objective on WESCO International from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Royal Bank of Canada lowered WESCO International from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $202.00 to $173.00 in a research report on Tuesday, February 13th. Oppenheimer raised their target price on WESCO International from $175.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, March 7th. Finally, StockNews.com lowered WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, WESCO International has an average rating of “Moderate Buy” and a consensus target price of $184.67.

WESCO International Stock Performance

WCC traded down $5.13 during trading hours on Wednesday, hitting $154.79. The stock had a trading volume of 601,789 shares, compared to its average volume of 476,446. The company’s fifty day simple moving average is $161.49 and its 200 day simple moving average is $158.62. WESCO International, Inc. has a 1 year low of $121.90 and a 1 year high of $195.43. The stock has a market cap of $7.89 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.13 and a beta of 2.06. The company has a quick ratio of 1.42, a current ratio of 2.48 and a debt-to-equity ratio of 1.06.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Tuesday, February 13th. The technology company reported $2.65 earnings per share for the quarter, missing the consensus estimate of $3.86 by ($1.21). WESCO International had a return on equity of 17.01% and a net margin of 3.42%. The firm had revenue of $5.50 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same period last year, the business posted $4.13 EPS. The company’s revenue was down 1.8% compared to the same quarter last year. Equities analysts anticipate that WESCO International, Inc. will post 14.19 earnings per share for the current year.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.4125 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.65 annualized dividend and a yield of 1.07%. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s dividend payout ratio (DPR) is 12.19%.

Insider Buying and Selling

In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the completion of the transaction, the executive vice president now owns 54,385 shares in the company, valued at approximately $10,333,150. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other WESCO International news, EVP James Cameron sold 5,352 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following the completion of the transaction, the executive vice president now owns 33,595 shares in the company, valued at approximately $5,253,922.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Nelson John Squires III sold 3,490 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the completion of the transaction, the executive vice president now owns 54,385 shares of the company’s stock, valued at approximately $10,333,150. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by 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).