Company Chairman Sells 10,501 Shares in Insider Sale

The Chairman of the $WCC company, JOHN ENGEL, recently sold 10,501 shares of stock for an estimated $2,362,830, as reported in a recent SEC filing. This sale represented about 2.0% of his total shares in that class of stock, leaving him with 516,521 shares of $WCC stock. Over the past six months, insiders at $WCC have engaged in 20 trades on the open market, with all 20 being sales and no purchases.

Among the notable recent insider trading activities at $WCC, JOHN ENGEL, the Chairman, President, and CEO, completed 4 sales transactions, selling 51,051 shares for an estimated total of $11,546,233. Additionally, DAVID S. SCHULZ, the EVP and CFO, sold 14,094 shares in 4 transactions amounting to $3,065,105. NELSON JOHN III SQUIRES, the EVP and GM of EES, sold 11,093 shares in 2 transactions totaling $2,339,634. DIANE LAZZARIS, the EVP and General Counsel, completed 5 sales of 7,420 shares for an estimated $1,681,059. AKASH KHURANA, the EVP and Chief Info & Digital Officer, sold 7,000 shares for $1,456,840. CHRISTINE ANN WOLF, the EVP and CHRO, carried out 2 sales transactions for 3,106 shares amounting to $550,208. JAMES LOUIS SINGLETON also conducted 2 sales, selling 1,500 shares for $339,815.

Beyond insider trading, $WCC has seen significant activity from institutional investors, with 275 adding shares to their portfolios and 318 reducing their positions in the most recent quarter. Notable moves include POINTSTATE CAPITAL LP removing 1,480,017 shares from their portfolio, representing an 84.2% decrease. ADAGE CAPITAL PARTNERS GP, L.L.C. sold 775,035 shares, reducing their position by 90.6%. INTERVAL PARTNERS, LP added 593,491 shares, while BARROW HANLEY MEWHINNEY & STRAUSS LLC added 544,417 shares, accounting for a significant 1797.8% increase in their holdings. WELLINGTON MANAGEMENT GROUP LLP added 522,897 shares, representing a 35.3% upsurge. However, SOUTHPOINT CAPITAL ADVISORS LP and PACER ADVISORS, INC. removed 500,000 and 456,290 shares, respectively, from their portfolios.

Congressional stock trading related to $WCC has seen a single transaction in the past six months, with REPRESENTATIVE THOMAS H. KEAN, JR. selling up to $15,000 worth of $WCC stock on 06/23.

Analyst ratings for $WCC have been positive, with 4 firms issuing buy ratings and no sell ratings. Recent updates include “Overweight” ratings from Keybanc and JP Morgan, a “Buy” rating from Loop Capital, and an “Outperform” rating from Oppenheimer. Multiple analysts have also provided price targets for $WCC, with a median target of $220.0. Analysts such as Chris Dankert, Stephen Tusa, Ken Newman, Sam Darkatsh, Tommy Moll, and Christopher Glynn have all provided targets ranging from $195.0 to $240.0.

It is important to note that this article is not financial advice and should not be used as such. For further details and information, readers can refer to Quiver Quantitative’s disclaimers.