Paradigm Capital Management Inc. NY decreased its position in shares of WESCO International, Inc. (NYSE:WCC – Get Rating) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,100 shares of the technology company's stock after selling 600 shares during the period. Paradigm Capital Management Inc. NY owned 0.12% of WESCO International worth $7,952,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. Neuberger Berman Group LLC lifted its position in shares of WESCO International by 4.3% during the 1st quarter. Neuberger Berman Group LLC now owns 55,479 shares of the technology company's stock worth $7,220,000 after purchasing an additional 2,304 shares during the last quarter. Quent Capital LLC increased its position in WESCO International by 79.4% during the first quarter. Quent Capital LLC now owns 2,906 shares of the technology company's stock worth $378,000 after acquiring an additional 1,286 shares during the period. MetLife Investment Management LLC raised its stake in WESCO International by 55.8% during the 1st quarter. MetLife Investment Management LLC now owns 23,551 shares of the technology company's stock valued at $3,065,000 after purchasing an additional 8,430 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in WESCO International by 5.0% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 2,074,914 shares of the technology company's stock valued at $270,029,000 after purchasing an additional 99,517 shares during the period. Finally, Toronto Dominion Bank increased its holdings in shares of WESCO International by 26.2% during the 1st quarter. Toronto Dominion Bank now owns 1,646 shares of the technology company's stock worth $214,000 after purchasing an additional 342 shares during the period. 94.10% of the stock is currently owned by institutional investors.
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Insider Buying and Selling at WESCO International
In other news, major shareholder Equity Investors Vii L. Green purchased 100,000 shares of WESCO International stock in a transaction that occurred on Monday, August 8th. The shares were acquired at an average price of $133.96 per share, for a total transaction of $13,396,000.00. Following the transaction, the insider now owns 3,412,258 shares of the company's stock, valued at approximately $457,106,081.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other WESCO International news, major shareholder Equity Investors Vii L. Green acquired 100,000 shares of the company's stock in a transaction that occurred on Monday, August 8th. The stock was acquired at an average cost of $133.96 per share, for a total transaction of $13,396,000.00. Following the transaction, the insider now directly owns 3,412,258 shares in the company, valued at $457,106,081.68. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Equity Investors Vii L. Green purchased 370,239 shares of the company's stock in a transaction dated Thursday, August 4th. The stock was purchased at an average price of $129.92 per share, with a total value of $48,101,450.88. Following the completion of the purchase, the insider now directly owns 3,287,813 shares in the company, valued at approximately $427,152,664.96. The disclosure for this purchase can be found here. Insiders own 2.60% of the company's stock.
Analyst Ratings Changes
WCC has been the topic of a number of recent research reports. KeyCorp lifted their target price on WESCO International from $155.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, September 8th. StockNews.com cut WESCO International from a "buy" rating to a "hold" rating in a research report on Thursday, July 21st. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $166.25.
WESCO International Trading Down 1.8 %
Shares of WCC stock traded down $2.42 on Wednesday, reaching $135.56. The company had a trading volume of 3,967 shares, compared to its average volume of 517,354. WESCO International, Inc. has a 12 month low of $99.00 and a 12 month high of $147.05. The stock has a market cap of $6.88 billion, a PE ratio of 11.41, a PEG ratio of 0.90 and a beta of 2.11. The company has a current ratio of 2.12, a quick ratio of 1.24 and a debt-to-equity ratio of 1.23. The company has a 50-day moving average of $126.66 and a 200-day moving average of $124.22.
WESCO International (NYSE:WCC – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The technology company reported $4.19 EPS for the quarter, beating the consensus estimate of $3.81 by $0.38. WESCO International had a net margin of 3.45% and a return on equity of 19.32%. The business had revenue of $5.50 billion for the quarter, compared to analysts' expectations of $5.31 billion. During the same period in the previous year, the firm posted $2.64 EPS. The firm's revenue was up 19.7% compared to the same quarter last year. On average, equities analysts forecast that WESCO International, Inc. will post 16.01 earnings per share for the current year.
WESCO International announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 1st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to buy up to 14.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its stock is undervalued.
WESCO International Profile
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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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