AEGON ASSET MANAGEMENT UK Plc Lowers Stock Position in WESCO International, Inc. (NYSE:WCC)

AEGON ASSET MANAGEMENT UK Plc cut its stake in WESCO International, Inc. (NYSE:WCC - Free Report) by 6.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,611 shares of the technology company's stock after selling 11,376 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.35% of WESCO International worth $26,179,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Covestor Ltd raised its position in WESCO International by 5.5% in the fourth quarter. Covestor Ltd now owns 1,198 shares of the technology company's stock valued at $216,000 after purchasing an additional 62 shares during the period. V Square Quantitative Management LLC raised its holdings 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 valued at $43,000 after buying an additional 67 shares during the period. Parallel Advisors LLC lifted its position in WESCO International by 21.1% in the first quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock valued at $69,000 after buying an additional 78 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in WESCO International by 43.5% in the fourth 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 last quarter. Finally, Van ECK Associates Corp boosted its stake in WESCO International by 1.7% during the fourth quarter. Van ECK Associates Corp now owns 30,178 shares of the technology company's stock worth $5,461,000 after buying an additional 512 shares during the period. 93.76% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WCC has been the subject of several research reports. Royal Bank of Canada lifted their target price on WESCO International from $212.00 to $213.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 12th. Stephens upped their price target on WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Wall Street Zen lowered WESCO International from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. lowered their price objective on WESCO International from $210.00 to $180.00 and set an "overweight" rating for the company in a research report on Tuesday, May 27th. Finally, Oppenheimer cut their target price on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, WESCO International currently has an average rating of "Moderate Buy" and an average target price of $212.00.

WESCO International Stock Down 0.5%

Shares of WCC traded down $0.80 during mid-day trading on Thursday, reaching $170.08. The company's stock had a trading volume of 346,091 shares, compared to its average volume of 760,068. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27. WESCO International, Inc. has a 12-month low of $125.21 and a 12-month high of $216.17. The stock has a market cap of $8.30 billion, a PE ratio of 13.01, a price-to-earnings-growth ratio of 1.45 and a beta of 1.83. The company's 50 day moving average is $159.00 and its 200 day moving average is $176.22.

WESCO International (NYSE:WCC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $2.21 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.02). WESCO International had a net margin of 3.29% and a return on equity of 13.63%. The company had revenue of $5.34 billion during the quarter, compared to analysts' expectations of $5.27 billion. During the same quarter in the prior year, the company earned $2.30 earnings per share. The business's revenue for the quarter was down .1% on a year-over-year basis. Equities analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Friday, June 13th. WESCO International's dividend payout ratio (DPR) is currently 13.69%.

About WESCO International

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).