WESCO International, Inc. $WCC Shares Sold by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. lowered its position in WESCO International, Inc. (NYSE:WCC) by 30.7% in the third quarter, Holdings Channel.com reports. The firm owned 564,524 shares of the technology company’s stock after selling 250,263 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in WESCO International were worth $119,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp raised its stake in shares of WESCO International by 49.5% during the 3rd quarter. Jones Financial Companies Lllp now owns 7,899 shares of the technology company’s stock worth $1,689,000 after buying an additional 2,617 shares in the last quarter. Transcend Capital Advisors LLC acquired a new stake in WESCO International in the third quarter valued at $204,000. New York State Common Retirement Fund boosted its position in shares of WESCO International by 5.4% during the 3rd quarter. New York State Common Retirement Fund now owns 36,660 shares of the technology company’s stock worth $7,754,000 after purchasing an additional 1,866 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc grew its stake in shares of WESCO International by 0.9% during the 3rd quarter. AEGON ASSET MANAGEMENT UK Plc now owns 147,900 shares of the technology company’s stock worth $31,268,000 after purchasing an additional 1,270 shares during the period. Finally, Root Financial Partners LLC purchased a new position in shares of WESCO International in the 3rd quarter valued at about $37,000. Institutional investors and hedge funds own 93.75% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Christine Ann Wolf sold 4,685 shares of the business’s stock in a transaction dated Tuesday, November 11th. The stock was sold at an average price of $259.52, for a total value of $1,215,851.20. Following the completion of the sale, the executive vice president directly owned 30,195 shares of the company’s stock, valued at $7,836,206.40. The trade was a 13.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wall Street Zen lowered WESCO International from a “buy” rating to a “hold” rating in a research note on Saturday, January 17th. Weiss Ratings restated a “hold (c+)” rating on shares of WESCO International in a report on Wednesday, January 21st. Barclays increased their price target on WESCO International from $274.00 to $302.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. KeyCorp increased their price objective on shares of WESCO International from $300.00 to $304.00 and gave the stock an “overweight” rating in a report on Monday, January 26th. Finally, Royal Bank Of Canada upgraded WESCO International from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $262.00 to $302.00 in a report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, WESCO International presently has a consensus rating of “Moderate Buy” and a consensus target price of $266.00.

WESCO International Stock Performance

Shares of WCC stock opened at $315.99 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.09 and a quick ratio of 1.20. The company’s fifty day moving average price is $271.82 and its two-hundred day moving average price is $241.38. The firm has a market capitalization of $15.37 billion, a P/E ratio of 24.78, a P/E/G ratio of 2.00 and a beta of 1.45. WESCO International, Inc. has a 12 month low of $125.21 and a 12 month high of $318.75.

WESCO International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were given a dividend of $0.4538 per share. The ex-dividend date of this dividend was Friday, December 12th. This represents a $1.82 annualized dividend and a dividend yield of 0.6%. WESCO International’s dividend payout ratio (DPR) is presently 14.27%.

About WESCO International

WESCO International, Inc is a leading global distributor of electrical, industrial, communications and utility products, serving a diverse customer base across maintenance, repair and operations (MRO), original equipment manufacturing (OEM) and construction markets. The company offers a comprehensive portfolio of products ranging from power distribution and automation solutions to data communications, security systems and lighting controls. Through an extensive branch network, WESCO provides critical components and value‐added services that help organizations streamline operations and improve reliability in their facilities and infrastructure.

In addition to its broad product offering, WESCO delivers advanced supply chain management and logistics solutions designed to optimize inventory levels, reduce downtime and lower overall procurement costs.