Peregrine Capital Management LLC Has $1.06 Million Stock Holdings in WESCO International, Inc. $WCC

Peregrine Capital Management LLC trimmed its position in shares of WESCO International, Inc. (NYSE:WCC) by 30.2% during the second quarter, HoldingsChannel.com reports. The firm owned 5,718 shares of the technology company’s stock after selling 2,470 shares during the period. Peregrine Capital Management LLC’s holdings in WESCO International were worth $1,059,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Whittier Trust Co. boosted its stake in shares of WESCO International by 46.8% during the first quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock valued at $43,000 after purchasing an additional 89 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of WESCO International by 27.7% during the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company’s stock valued at $74,000 after purchasing an additional 104 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of WESCO International by 13.4% during the second quarter. Parallel Advisors LLC now owns 507 shares of the technology company’s stock valued at $94,000 after purchasing an additional 60 shares in the last quarter. Applied Finance Capital Management LLC bought a new position in shares of WESCO International during the second quarter worth about $227,000. Finally, Bessemer Group Inc. raised its position in shares of WESCO International by 1,286.6% during the first quarter. Bessemer Group Inc. now owns 1,345 shares of the technology company’s stock worth $209,000 after acquiring an additional 1,248 shares during the last quarter. 93.75% of the stock is owned by institutional investors and hedge funds.

WESCO International Trading Down 0.6%

Shares of WCC stock opened at $221.55 on Wednesday. The company has a market cap of $10.78 billion, a P/E ratio of 17.35, a PEG ratio of 1.73 and a beta of 1.79. The stock has a 50 day simple moving average of $216.90 and a two-hundred day simple moving average of $194.19. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. WESCO International, Inc. has a fifty-two week low of $125.21 and a fifty-two week high of $228.87.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, July 31st. The technology company reported $3.39 earnings per share for the quarter, topping analysts’ consensus estimates of $3.31 by $0.08. The business had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $5.82 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $3.21 earnings per share. Research analysts forecast that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th were issued a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, September 12th. WESCO International’s payout ratio is presently 14.25%.

Insiders Place Their Bets

In other WESCO International news, EVP James Cameron sold 10,325 shares of WESCO International stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $226.45, for a total value of $2,338,096.25. Following the completion of the sale, the executive vice president directly owned 45,706 shares in the company, valued at approximately $10,350,123.70. The trade was a 18.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Diane Lazzaris sold 4,260 shares of the firm’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $226.77, for a total value of $966,040.20. Following the completion of the sale, the executive vice president directly owned 52,916 shares of the company’s stock, valued at $11,999,761.32. This trade represents a 7.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 136,131 shares of company stock valued at $30,384,421 in the last 90 days. Company insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WCC shares. Weiss Ratings restated a “hold (c+)” rating on shares of WESCO International in a research report on Wednesday, October 8th. Wall Street Zen upgraded WESCO International from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Loop Capital raised their price objective on WESCO International from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Oppenheimer raised their price objective on WESCO International from $225.00 to $255.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Finally, Stephens downgraded WESCO International from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $190.00 to $200.00 in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, WESCO International has an average rating of “Moderate Buy” and an average target price of $237.20.

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).