GAMMA Investing LLC Raises Position in WESCO International, Inc. (NYSE:WCC)

GAMMA Investing LLC boosted its position in WESCO International, Inc. (NYSE:WCC) by 25.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 375 shares of the technology company’s stock after purchasing an additional 75 shares during the period. GAMMA Investing LLC’s holdings in WESCO International were worth $68,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in shares of WESCO International during the 3rd quarter valued at $28,000. UMB Bank n.a. raised its stake in WESCO International by 18.3% in the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after acquiring an additional 98 shares during the period. Highland Capital Management LLC purchased a new stake in WESCO International during the third quarter valued at about $221,000. Innealta Capital LLC boosted its position in WESCO International by 68.0% during the third quarter. Innealta Capital LLC now owns 1,606 shares of the technology company’s stock worth $270,000 after purchasing an additional 650 shares during the period. Finally, Greenleaf Trust increased its stake in shares of WESCO International by 4.8% in the third quarter. Greenleaf Trust now owns 2,401 shares of the technology company’s stock worth $403,000 after purchasing an additional 111 shares in the last quarter. 93.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a report on Thursday. Jefferies Financial Group raised their price target on WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Stephens boosted their price objective on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Robert W. Baird raised their target price on WESCO International from $215.00 to $223.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, Oppenheimer increased their price target on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $215.88.

Insiders Place Their Bets

In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the completion of the sale, the executive vice president now directly owns 54,621 shares in the company, valued at $10,377,990. This represents a 15.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO David S. Schulz sold 14,938 shares of WESCO International stock in a transaction dated 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 owns 104,471 shares in the company, valued at approximately $21,578,485.05. This represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 27,767 shares of company stock valued at $5,567,454 over the last 90 days. Insiders own 3.10% of the company’s stock.

WESCO International Stock Performance

Shares of WCC opened at $178.44 on Monday. The company has a current ratio of 2.21, a quick ratio of 1.29 and a debt-to-equity ratio of 0.99. The stock has a 50-day moving average price of $195.14 and a 200-day moving average price of $175.87. The company has a market cap of $8.74 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.55 and a beta of 2.02. WESCO International, Inc. has a 12-month low of $132.37 and a 12-month high of $216.17.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.49 EPS. As a group, equities analysts forecast that WESCO International, Inc. will post 12.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $0.4125 per share. The ex-dividend date was Friday, December 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.92%. WESCO International’s payout ratio is 13.21%.

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).