BNP Paribas Financial Markets Raises Stock Position in WESCO International, Inc. (NYSE:WCC)

BNP Paribas Financial Markets raised its stake in shares of WESCO International, Inc. (NYSE:WCC) by 80.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,034 shares of the technology company’s stock after purchasing an additional 5,363 shares during the period. BNP Paribas Financial Markets’ holdings in WESCO International were worth $2,021,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of WCC. Whittier Trust Co. of Nevada Inc. raised its stake in WESCO International by 71.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after purchasing an additional 69 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of WESCO International during the third quarter worth $28,000. GAMMA Investing LLC raised its position in shares of WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after buying an additional 100 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of WESCO International by 18.3% in the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after buying an additional 98 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in WESCO International during the second quarter worth about $152,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

Insider Activity at WESCO International

In related news, CFO David S. Schulz sold 14,938 shares of WESCO International stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total value of $3,085,443.90. Following the completion of the transaction, the chief financial officer now directly owns 104,471 shares in the company, valued at approximately $21,578,485.05. This trade represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the sale, the director now owns 27,004 shares in the company, valued at approximately $4,632,806.24. This trade represents a 17.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,586 shares of company stock worth $6,565,762 in the last three months. 3.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WCC shares. Stephens raised their target price on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Oppenheimer lifted their price objective on WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. KeyCorp upped their target price on WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Finally, Robert W. Baird upped their price objective on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $213.38.

WESCO International Trading Down 1.0 %

Shares of WCC stock opened at $206.67 on Friday. WESCO International, Inc. has a 1-year low of $132.37 and a 1-year high of $216.17. The firm has a market cap of $10.13 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.72 and a beta of 2.01. The company has a 50-day moving average of $190.28 and a two-hundred day moving average of $174.20. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter last year, the company posted $4.49 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, analysts predict that WESCO International, Inc. will post 12.3 EPS for the current year.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend is Friday, December 13th. WESCO International’s payout ratio is 13.21%.

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).