Ameriprise Financial Inc. lifted its stake in WESCO International, Inc. (NYSE:WCC - Free Report) by 149.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 255,035 shares of the technology company's stock after purchasing an additional 152,727 shares during the quarter. Ameriprise Financial Inc. owned about 0.52% of WESCO International worth $46,148,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC raised its position in WESCO International by 39.9% in the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company's stock worth $43,000 after purchasing an additional 67 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in WESCO International by 43.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company's stock valued at $48,000 after buying an additional 81 shares during the period. GAMMA Investing LLC raised its stake in shares of WESCO International by 25.0% during the fourth quarter. GAMMA Investing LLC now owns 375 shares of the technology company's stock valued at $68,000 after acquiring an additional 75 shares in the last quarter. Millstone Evans Group LLC bought a new position in WESCO International in the fourth quarter worth approximately $122,000. Finally, Dorsey & Whitney Trust CO LLC bought a new stake in WESCO International during the 4th quarter valued at $204,000. Hedge funds and other institutional investors own 93.76% of the company's stock.
Analyst Ratings Changes
WCC has been the topic of several recent research reports. Loop Capital dropped their target price on shares of WESCO International from $250.00 to $220.00 and set a "buy" rating on the stock in a report on Monday. Stephens boosted their price objective on shares of WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Royal Bank of Canada lifted their target price on shares of WESCO International from $212.00 to $213.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. StockNews.com lowered shares of WESCO International from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Finally, KeyCorp lowered their price target on WESCO International from $245.00 to $205.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $216.57.
Check Out Our Latest Report on WCC
WESCO International Price Performance
Shares of WESCO International stock traded down $0.25 on Wednesday, hitting $173.63. The company's stock had a trading volume of 648,868 shares, compared to its average volume of 756,354. The company has a market capitalization of $8.47 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 1.45 and a beta of 1.92. The firm has a fifty day moving average price of $156.82 and a 200-day moving average price of $179.07. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. WESCO International, Inc. has a 1 year low of $125.21 and a 1 year high of $216.17.
WESCO International (NYSE:WCC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $2.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.23 by ($0.02). The business had revenue of $5.34 billion for the quarter, compared to analysts' expectations of $5.27 billion. WESCO International had a net margin of 3.29% and a return on equity of 13.63%. The firm's revenue was down .1% on a year-over-year basis. During the same period in the prior year, the company posted $2.30 EPS. As a group, sell-side analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.
WESCO International Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.4538 dividend. This is a positive change from WESCO International's previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend was Friday, March 14th. WESCO International's dividend payout ratio is currently 13.69%.
About WESCO International
(
Free Report)
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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