WESCO International, Inc. (NYSE:WCC) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 88.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 758,786 shares of the technology company's stock after acquiring an additional 355,570 shares during the quarter. Bank of New York Mellon Corp owned 1.56% of WESCO International worth $117,839,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dorsey & Whitney Trust CO LLC acquired a new position in WESCO International in the fourth quarter worth about $204,000. Whittier Trust Co. of Nevada Inc. grew its stake 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 worth $48,000 after purchasing an additional 81 shares in the last quarter. Millstone Evans Group LLC acquired a new position in WESCO International in the fourth quarter worth about $122,000. KLP Kapitalforvaltning AS acquired a new position in WESCO International in the fourth quarter worth about $2,060,000. Finally, Russell Investments Group Ltd. grew its stake in WESCO International by 62.9% in the fourth quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company's stock worth $38,906,000 after purchasing an additional 83,031 shares in the last quarter. 93.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WCC has been the subject of a number of research reports. Loop Capital decreased their price target on WESCO International from $250.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Oppenheimer decreased their target price on WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. JPMorgan Chase & Co. decreased their target price on WESCO International from $210.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, May 27th. Finally, KeyCorp lifted their target price on WESCO International from $180.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, June 13th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $212.63.

WESCO International Stock Performance

Shares of NYSE WCC traded down $1.84 during midday trading on Friday, hitting $199.42. 498,194 shares of the company's stock were exchanged, compared to its average volume of 723,078. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.15 and a quick ratio of 1.23. The stock's 50 day moving average price is $176.69 and its 200-day moving average price is $173.44. The firm has a market cap of $9.73 billion, a P/E ratio of 15.08, a PEG ratio of 1.55 and a beta of 1.83. WESCO International, Inc. has a twelve month low of $125.21 and a twelve month high of $216.17.

WESCO International (NYSE:WCC - Get Free Report) last issued 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 analyst estimates of $5.27 billion. WESCO International had a return on equity of 13.40% and a net margin of 3.30%. The business's quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.30 earnings per share. Equities research analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.4538 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.82 dividend on an annualized basis and a yield of 0.91%. WESCO International's dividend payout ratio (DPR) is 13.77%.

Insiders Place Their Bets

In other WESCO International news, EVP Christine Ann Wolf sold 3,106 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $177.14, for a total value of $550,196.84. Following the completion of the sale, the executive vice president directly owned 30,181 shares in the company, valued at $5,346,262.34. This represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.30% of the stock is owned by company insiders.

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).