Pacer Advisors Inc. Has $251.90 Million Position in WESCO International, Inc. (NYSE:WCC)

Pacer Advisors Inc. boosted its position in shares of WESCO International, Inc. (NYSE:WCC) by 23,727.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,589,048 shares of the technology company’s stock after buying an additional 1,582,379 shares during the quarter. Pacer Advisors Inc. owned approximately 3.13% of WESCO International worth $251,896,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Lyrical Asset Management LP lifted its stake in shares of WESCO International by 2,583.9% during the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock valued at $133,040,000 after acquiring an additional 736,616 shares during the period. Neo Ivy Capital Management bought a new position in shares of WESCO International in the 2nd quarter valued at about $5,916,000. Russell Investments Group Ltd. boosted its stake in shares of WESCO International by 74.8% in the 1st quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock valued at $12,486,000 after purchasing an additional 31,200 shares during the last quarter. Hosking Partners LLP grew its position in shares of WESCO International by 68.6% during the 1st quarter. Hosking Partners LLP now owns 63,577 shares of the technology company’s stock worth $10,889,000 after buying an additional 25,864 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in WESCO International by 163.5% in the first quarter. BNP Paribas Financial Markets now owns 24,236 shares of the technology company’s stock valued at $4,151,000 after buying an additional 15,037 shares during the period. 93.76% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on WCC shares. StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. KeyCorp decreased their price objective on WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Loop Capital cut their target price on WESCO International from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Tuesday, August 6th. Baird R W lowered WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Finally, Robert W. Baird cut their price target on shares of WESCO International from $195.00 to $172.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, WESCO International currently has a consensus rating of “Moderate Buy” and an average target price of $184.71.

WESCO International Trading Down 2.7 %

NYSE WCC opened at $167.98 on Friday. WESCO International, Inc. has a one year low of $122.30 and a one year high of $195.43. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.28 and a quick ratio of 1.34. The firm has a market cap of $8.54 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.35 and a beta of 2.03. The stock’s 50-day moving average is $162.31 and its 200-day moving average is $165.82.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.27). The company had revenue of $5.48 billion for the quarter, compared to analyst estimates of $5.55 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The business’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the business posted $3.71 earnings per share. Sell-side analysts anticipate that WESCO International, Inc. will post 12.17 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Friday, September 13th. WESCO International’s payout ratio is presently 13.74%.

WESCO International Company 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).