New York State Common Retirement Fund Raises Holdings in WESCO International, Inc. $WCC

New York State Common Retirement Fund increased its position in WESCO International, Inc. (NYSE:WCC) by 5.4% in the 3rd quarter, Holdings Channel reports. The firm owned 36,660 shares of the technology company’s stock after buying an additional 1,866 shares during the period. New York State Common Retirement Fund’s holdings in WESCO International were worth $7,754,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in WCC. Root Financial Partners LLC purchased a new stake in WESCO International in the third quarter valued at approximately $37,000. First Horizon Advisors Inc. increased its holdings in shares of WESCO International by 129.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 232 shares of the technology company’s stock valued at $43,000 after acquiring an additional 131 shares during the period. GAMMA Investing LLC raised its position in WESCO International by 33.0% in the 3rd quarter. GAMMA Investing LLC now owns 589 shares of the technology company’s stock valued at $125,000 after purchasing an additional 146 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in WESCO International by 95.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 753 shares of the technology company’s stock worth $139,000 after purchasing an additional 368 shares during the period. Finally, Dorsey & Whitney Trust CO LLC purchased a new position in WESCO International during the 2nd quarter worth $211,000. Hedge funds and other institutional investors own 93.75% of the company’s stock.

Insider Transactions at WESCO International

In other WESCO International news, EVP Christine Ann Wolf sold 4,685 shares of the firm’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 sale, the executive vice president directly owned 30,195 shares of the company’s stock, valued at approximately $7,836,206.40. This trade represents a 13.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.30% of the company’s stock.

WESCO International Stock Down 0.7%

WCC stock opened at $301.68 on Thursday. 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 50 day simple moving average is $270.16 and its 200-day simple moving average is $239.95. WESCO International, Inc. has a 12 month low of $125.21 and a 12 month high of $316.50. The firm has a market capitalization of $14.68 billion, a PE ratio of 23.66, a P/E/G ratio of 1.93 and a beta of 1.45.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Friday, December 12th were paid a $0.4538 dividend. This represents a $1.82 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, December 12th. WESCO International’s dividend payout ratio is presently 14.27%.

Analyst Upgrades and Downgrades

Several analysts have commented on WCC shares. JPMorgan Chase & Co. upped their price objective on WESCO International from $260.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, January 16th. Wall Street Zen downgraded WESCO International from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Royal Bank Of Canada raised shares of WESCO International from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from $262.00 to $302.00 in a research note on Wednesday, November 19th. Barclays raised their target price on shares of WESCO International from $274.00 to $302.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Finally, KeyCorp boosted their price target on shares of WESCO International from $300.00 to $304.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. One research 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 company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $266.00.

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.