GAMMA Investing LLC Purchases New Stake in WESCO International, Inc. (NYSE:WCC)

GAMMA Investing LLC bought a new position in WESCO International, Inc. (NYSE:WCC) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 324 shares of the technology company’s stock, valued at approximately $56,000.

Several other institutional investors have also modified their holdings of the stock. AEGON ASSET MANAGEMENT UK Plc purchased a new position in WESCO International during the fourth quarter worth about $2,256,000. Amalgamated Bank increased its stake in WESCO International by 16.1% during the third quarter. Amalgamated Bank now owns 34,221 shares of the technology company’s stock worth $4,922,000 after acquiring an additional 4,733 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in shares of WESCO International by 2.6% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 54,985 shares of the technology company’s stock worth $7,908,000 after purchasing an additional 1,390 shares during the last quarter. Van ECK Associates Corp raised its holdings in WESCO International by 119.7% in the 3rd quarter. Van ECK Associates Corp now owns 15,871 shares of the technology company’s stock valued at $2,283,000 after buying an additional 8,647 shares during the period. Finally, Hosking Partners LLP lifted its position in WESCO International by 20.1% in the third quarter. Hosking Partners LLP now owns 40,424 shares of the technology company’s stock valued at $5,814,000 after buying an additional 6,752 shares during the last quarter. Hedge funds and other institutional investors own 93.76% of the company’s stock.

WESCO International Trading Up 1.0 %

NYSE WCC opened at $154.25 on Thursday. The firm has a 50 day moving average of $160.17 and a two-hundred day moving average of $159.55. The stock has a market capitalization of $7.86 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.08 and a beta of 2.07. WESCO International, Inc. has a 52 week low of $121.90 and a 52 week high of $195.43. 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 issued its earnings results 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). The business had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.59 billion. WESCO International had a return on equity of 17.01% and a net margin of 3.42%. WESCO International’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business posted $4.13 EPS. As a group, research analysts expect that WESCO International, Inc. will post 14.19 EPS for the current fiscal year.

WESCO International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a $0.4125 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from WESCO International’s previous quarterly dividend of $0.38. This represents a $1.65 dividend on an annualized basis and a yield of 1.07%. WESCO International’s payout ratio is 12.19%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on WCC shares. Oppenheimer lifted their target price on shares of WESCO International from $175.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, March 7th. Royal Bank of Canada lowered shares of WESCO International from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $202.00 to $173.00 in a research note on Tuesday, February 13th. KeyCorp raised their price objective on shares of WESCO International from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. StockNews.com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.67.

Insider Activity at WESCO International

In other news, EVP Nelson John Squires III sold 3,490 shares of WESCO International stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $190.00, for a total value of $663,100.00. Following the transaction, the executive vice president now directly owns 54,385 shares of the company’s stock, valued at approximately $10,333,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WESCO International news, EVP James Cameron sold 5,352 shares of WESCO International stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following the transaction, the executive vice president now directly owns 33,595 shares in the company, valued at approximately $5,253,922.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Nelson John Squires III sold 3,490 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the sale, 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. Insiders own 3.10% of the company’s stock.

WESCO International 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).