Harbor Capital Advisors Inc. lifted its holdings in WESCO International, Inc. (NYSE:WCC – Free Report) by 51.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,366 shares of the technology company’s stock after acquiring an additional 5,896 shares during the period. Harbor Capital Advisors Inc.’s holdings in WESCO International were worth $3,216,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in WCC. Norman Fields Gottscho Capital Management LLC bought a new stake in WESCO International in the second quarter worth about $1,200,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of WESCO International by 45.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 26,010 shares of the technology company’s stock worth $4,817,000 after buying an additional 8,122 shares during the period. Parallel Advisors LLC lifted its holdings in shares of WESCO International by 13.4% in the 2nd quarter. Parallel Advisors LLC now owns 507 shares of the technology company’s stock worth $94,000 after buying an additional 60 shares during the period. Strs Ohio bought a new position in shares of WESCO International during the 1st quarter worth $5,036,000. Finally, United Services Automobile Association purchased a new position in shares of WESCO International during the first quarter valued at $455,000. Hedge funds and other institutional investors own 93.75% of the company’s stock.
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WESCO International Stock Down 0.6%
WCC stock opened at $214.61 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.09 and a quick ratio of 1.19. The firm’s fifty day simple moving average is $212.10 and its 200-day simple moving average is $182.08. WESCO International, Inc. has a 12 month low of $125.21 and a 12 month high of $228.35. The company has a market capitalization of $10.44 billion, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 1.66 and a beta of 1.81.
WESCO International (NYSE:WCC – Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $3.39 earnings per share for the quarter, beating analysts’ consensus estimates of $3.31 by $0.08. The business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $5.82 billion. WESCO International had a return on equity of 12.96% and a net margin of 2.98%.The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $3.21 EPS. As a group, equities research analysts forecast that WESCO International, Inc. will post 13.3 earnings per share for the current year.
WESCO International Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.4538 per share. This represents a $1.82 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, September 12th. WESCO International’s dividend payout ratio is presently 14.25%.
Analysts Set New Price Targets
WCC has been the subject of a number of research reports. Oppenheimer upped their price objective on shares of WESCO International from $225.00 to $255.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. KeyCorp upped their price target on shares of WESCO International from $240.00 to $258.00 and gave the stock an “overweight” rating in a research report on Friday, August 29th. Loop Capital lifted their price objective on shares of WESCO International from $220.00 to $235.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Raymond James Financial restated a “strong-buy” rating and set a $240.00 target price (up previously from $230.00) on shares of WESCO International in a report on Friday, August 1st. Finally, Stephens cut WESCO International from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $190.00 to $200.00 in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $232.67.
Read Our Latest Analysis on WCC
Insider Activity
In related news, EVP Nelson John Squires III sold 13,780 shares of WESCO International stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $219.59, for a total value of $3,025,950.20. Following the completion of the transaction, the executive vice president owned 48,625 shares in the company, valued at $10,677,563.75. The trade was a 22.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Hemant Porwal sold 4,656 shares of the stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $224.84, for a total value of $1,046,855.04. Following the transaction, the executive vice president owned 19,141 shares in the company, valued at $4,303,662.44. This represents a 19.57% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 136,131 shares of company stock worth $30,384,421. 3.30% of the stock is currently owned by corporate insiders.
About WESCO International
(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).
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