1 week Ago By ABMN Staff
Rhumbline Advisers lessened its stake in shares of WESCO International, Inc. ( NYSE:WCC – Free Report ) by 1.7% in the second quarter, HoldingsChannel.
com reports. The institutional investor owned 119,859 shares of the technology company’s stock after selling 2,100 shares during the quarter. Rhumbline Advisers’ holdings in WESCO International were worth $19,000,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also modified their holdings of WCC. Van ECK Associates Corp raised its holdings in WESCO International by 11.9% in the 2nd quarter.
Van ECK Associates Corp now owns 12,993 shares of the technology company’s stock valued at $2,060,000 after acquiring an additional 1,378 shares during the period. Innealta Capital LLC bought a new position in shares of WESCO International during the second quarter worth approximately $152,000. Whittier Trust Co.
of Nevada Inc. boosted its stake in WESCO International by 71.1% in the 2nd quarter.
Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after purchasing an additional 69 shares during the period.
Bank of New York Mellon Corp boosted its stake in WESCO International by 2.1% in 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 during the period.
Finally, Fifth Third Wealth Advisors LLC acquired a new position in WESCO International in the 2nd quarter valued at $676,000. Institutional investors own 93.76% of the company’s stock.
Wall Street Analyst Weigh In A number of equities research analysts have recently weighed in on the company. Robert W. Baird dropped their target price on WESCO International from $195.
00 to $172.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Baird R W downgraded shares of WESCO International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th.
Stephens reaffirmed an “overweight” rating and set a $190.00 target price on shares of WESCO International in a report on Monday, August 5th. StockNews.
com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, KeyCorp reduced their price target on WESCO International from $205.00 to $195.
00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $184.
71. WESCO International Stock Performance Shares of NYSE:WCC opened at $149.87 on Monday.
The company’s 50 day simple moving average is $161.78 and its 200 day simple moving average is $165.19.
The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.
34. WESCO International, Inc. has a 1 year low of $122.
30 and a 1 year high of $195.43. The stock has a market capitalization of $7.
37 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.26 and a beta of 2.
03. WESCO International ( NYSE:WCC – Get Free Report ) last released its earnings results on Thursday, August 1st. The technology company reported $3.
21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27).
The business had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.55 billion.
WESCO International had a net margin of 3.30% and a return on equity of 14.44%.
The business’s revenue was down 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.
71 EPS. As a group, research analysts predict that WESCO International, Inc. will post 12.
21 EPS for the current fiscal year. WESCO International Dividend Announcement The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.
4125 dividend. This represents a $1.65 annualized dividend and a yield of 1.
10%. The ex-dividend date of this dividend is Friday, September 13th. WESCO International’s payout ratio is 13.
74%. WESCO International Company Profile ( Free Report ) 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).
Further Reading Want to see what other hedge funds are holding WCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WESCO International, Inc. ( NYSE:WCC – Free Report ).
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