Heritage Wealth Management Inc. Sells 175 Shares of WESCO International, Inc. (NYSE:WCC)

Heritage Wealth Management Inc. reduced its holdings in WESCO International, Inc. (NYSE:WCC) by 3.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,505 shares of the technology company’s stock after selling 175 shares during the quarter. Heritage Wealth Management Inc.’s holdings in WESCO International were worth $757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Pacer Advisors Inc. increased its position in WESCO International by 23,727.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock valued at $251,896,000 after purchasing an additional 1,582,379 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of WESCO International by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 413,156 shares of the technology company’s stock valued at $65,494,000 after purchasing an additional 8,641 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of WESCO International during the second quarter valued at about $52,782,000. Farmers & Merchants Investments Inc. raised its stake in WESCO International by 1.5% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company’s stock worth $32,753,000 after buying an additional 2,923 shares in the last quarter. Finally, Davis Selected Advisers raised its stake in WESCO International by 1.5% in the second quarter. Davis Selected Advisers now owns 193,646 shares of the technology company’s stock worth $30,697,000 after buying an additional 2,824 shares in the last quarter. Hedge funds and other institutional investors own 93.76% of the company’s stock.

Insider Activity at WESCO International

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the sale, the director now owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Nelson John Squires III sold 10,000 shares of the business’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 completion of the sale, the executive vice president now directly owns 54,621 shares in the company, valued at approximately $10,377,990. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the transaction, 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 owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WCC shares. Loop Capital increased their target price on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. StockNews.com raised shares of WESCO International from a “hold” rating to a “buy” rating in a research report on Monday. Oppenheimer boosted their price objective on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Robert W. Baird lifted their target price on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $208.86.

WESCO International Stock Down 2.2 %

WCC stock traded down $4.72 during midday trading on Friday, hitting $207.75. The company’s stock had a trading volume of 795,383 shares, compared to its average volume of 851,797. The firm’s 50-day moving average is $170.90 and its 200-day moving average is $168.71. The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99. WESCO International, Inc. has a 12 month low of $132.37 and a 12 month high of $213.41. The company has a market cap of $10.18 billion, a PE ratio of 16.64, a P/E/G ratio of 1.74 and a beta of 2.01.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same period last year, the firm posted $4.49 earnings per share. WESCO International’s revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that WESCO International, Inc. will post 12.18 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.4125 per share. The ex-dividend date was Friday, September 13th. This represents a $1.65 annualized dividend and a dividend yield of 0.79%. WESCO International’s payout ratio is 13.21%.

WESCO International Company Profile

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).