Harbor Investment Advisory LLC cut its stake in WESCO International, Inc. (NYSE:WCC – Get Rating) by 12.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 832 shares of the technology company's stock after selling 113 shares during the period. Harbor Investment Advisory LLC's holdings in WESCO International were worth $89,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in WCC. Quent Capital LLC bought a new position in shares of WESCO International in the fourth quarter valued at approximately $213,000. Toronto Dominion Bank lifted its stake in WESCO International by 26.2% during the first quarter. Toronto Dominion Bank now owns 1,646 shares of the technology company's stock valued at $214,000 after purchasing an additional 342 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in WESCO International during the fourth quarter valued at approximately $267,000. James Investment Research Inc. lifted its stake in WESCO International by 67.1% during the first quarter. James Investment Research Inc. now owns 2,506 shares of the technology company's stock valued at $326,000 after purchasing an additional 1,006 shares during the last quarter. Finally, Ensign Peak Advisors Inc acquired a new stake in WESCO International during the fourth quarter valued at approximately $337,000. 94.10% of the stock is currently owned by institutional investors.
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Wall Street Analysts Forecast Growth
Several analysts recently commented on the stock. StockNews.com lowered shares of WESCO International from a "buy" rating to a "hold" rating in a research note on Thursday, July 21st. KeyCorp increased their target price on shares of WESCO International from $155.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, September 8th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, WESCO International currently has an average rating of "Buy" and an average price target of $166.25.
WESCO International Stock Up 2.6 %
Shares of NYSE:WCC opened at $115.10 on Wednesday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.24 and a current ratio of 2.12. The company has a market cap of $5.84 billion, a PE ratio of 9.52, a price-to-earnings-growth ratio of 0.70 and a beta of 2.11. WESCO International, Inc. has a 52 week low of $99.00 and a 52 week high of $147.05. The firm has a 50 day simple moving average of $130.47 and a 200 day simple moving average of $124.79.
WESCO International (NYSE:WCC – Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The technology company reported $4.19 EPS for the quarter, beating the consensus estimate of $3.88 by $0.31. The business had revenue of $5.50 billion during the quarter, compared to the consensus estimate of $5.31 billion. WESCO International had a net margin of 3.45% and a return on equity of 19.32%. The firm's quarterly revenue was up 19.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.64 EPS. As a group, research analysts expect that WESCO International, Inc. will post 16.01 earnings per share for the current year.
WESCO International declared that its board has authorized a stock buyback plan on Wednesday, June 1st that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 14.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.
Insider Activity 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 stock was 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 in the company, valued at $457,106,081.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, major shareholder Equity Investors Vii L. Green acquired 370,239 shares of the company's stock in a transaction on Thursday, August 4th. The shares were purchased at an average price of $129.92 per share, for a total transaction of $48,101,450.88. Following the purchase, the insider now owns 3,287,813 shares in the company, valued at $427,152,664.96. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Equity Investors Vii L. Green acquired 100,000 shares of the company's stock in a transaction on Monday, August 8th. The stock was bought at an average price of $133.96 per share, for a total transaction of $13,396,000.00. Following the purchase, the insider now owns 3,412,258 shares in the company, valued at approximately $457,106,081.68. The disclosure for this purchase can be found here. 2.60% of the stock is owned by insiders.
WESCO International Company 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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