324 Shares in WESCO International, Inc. (NYSE:WCC) Purchased by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in shares of WESCO International, Inc. (NYSE:WCC) during the 4th quarter, Holdings Channel reports. The firm acquired 324 shares of the technology company’s stock, valued at approximately $56,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. KB Financial Partners LLC grew its position in shares of WESCO International by 76.8% during the third quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after buying an additional 86 shares in the last quarter. Anchor Investment Management LLC acquired a new position in WESCO International during the 4th quarter worth $48,000. Richelieu Gestion SA bought a new stake in shares of WESCO International in the 4th quarter worth about $122,000. iA Global Asset Management Inc. acquired a new stake in shares of WESCO International in the 3rd quarter valued at about $164,000. Finally, FDx Advisors Inc. lifted its position in shares of WESCO International by 7.3% during the third quarter. FDx Advisors Inc. now owns 1,555 shares of the technology company’s stock worth $224,000 after purchasing an additional 106 shares during the last quarter. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Nelson John Squires III sold 3,490 shares of the firm’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 directly owns 54,385 shares in the company, valued at approximately $10,333,150. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Nelson John Squires III sold 3,490 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $190.00, for a total value of $663,100.00. Following the completion of the sale, the executive vice president now owns 54,385 shares of the company’s stock, valued at $10,333,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP James Cameron sold 5,352 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the completion of the transaction, the executive vice president now owns 33,595 shares of the company’s stock, valued at approximately $5,253,922.05. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

WCC has been the topic of several research reports. StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. KeyCorp raised their price objective on WESCO International from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Robert W. Baird decreased their price objective on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. JPMorgan Chase & Co. dropped their target price on shares of WESCO International from $180.00 to $175.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Finally, Royal Bank of Canada lowered shares of WESCO International from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $202.00 to $173.00 in a report on Tuesday, February 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, WESCO International currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.67.

WESCO International Price Performance

Shares of WCC opened at $154.25 on Thursday. WESCO International, Inc. has a 12 month low of $121.90 and a 12 month high of $195.43. The company has a debt-to-equity ratio of 1.06, a current ratio of 2.48 and a quick ratio of 1.42. The stock has a fifty day moving average price of $160.17 and a 200 day moving average price of $159.55. The company has a market cap of $7.86 billion, a P/E ratio of 11.39, a PEG ratio of 1.08 and a beta of 2.07.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Tuesday, February 13th. The technology company reported $2.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.86 by ($1.21). WESCO International had a net margin of 3.42% and a return on equity of 17.01%. The firm had revenue of $5.50 billion for the quarter, compared to analyst estimates of $5.59 billion. During the same period last year, the firm posted $4.13 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. On average, research analysts forecast that WESCO International, Inc. will post 14.19 earnings per share for the current year.

WESCO International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.4125 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.65 annualized dividend and a dividend yield of 1.07%. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. WESCO International’s dividend payout ratio (DPR) is presently 12.19%.

About WESCO International

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).