Amalgamated Bank Lowers Stock Holdings in WESCO International, Inc. (NYSE:WCC)

Amalgamated Bank decreased its position in shares of WESCO International, Inc. (NYSE:WCC) by 8.9% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 27,377 shares of the technology company’s stock after selling 2,672 shares during the quarter. Amalgamated Bank owned approximately 0.06% of WESCO International worth $4,340,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Rise Advisors LLC purchased a new position in shares of WESCO International during the 1st quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. lifted 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 worth $26,000 after purchasing an additional 69 shares in the last quarter. GAMMA Investing LLC lifted its stake in WESCO International by 65.4% in the 2nd quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after purchasing an additional 100 shares in the last quarter. Innealta Capital LLC purchased a new stake in WESCO International in the 2nd quarter worth $152,000. Finally, TimesSquare Capital Management LLC purchased a new stake in WESCO International in the 1st quarter worth $463,000. Hedge funds and other institutional investors own 93.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on WCC shares. KeyCorp decreased their price target on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Robert W. Baird decreased 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 note on Friday, August 2nd. Baird R W cut shares of WESCO International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, Royal Bank of Canada reduced their target price on shares of WESCO International from $175.00 to $171.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $184.71.

WESCO International Stock Performance

Shares of NYSE:WCC opened at $167.95 on Friday. The company has a market capitalization of $8.54 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.35 and a beta of 2.03. WESCO International, Inc. has a 12 month low of $122.30 and a 12 month high of $195.43. The firm’s 50-day moving average is $162.26 and its 200 day moving average is $166.02. The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 1.07.

WESCO International (NYSE:WCC) last issued its quarterly 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 firm had revenue of $5.48 billion for the quarter, compared to the consensus estimate of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The business’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.71 earnings per share. Research analysts predict that WESCO International, Inc. will post 12.17 EPS for the current year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.4125 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.65 annualized dividend and a yield of 0.98%. WESCO International’s payout ratio is 13.74%.

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).