GAMMA Investing LLC Boosts Position in WESCO International, Inc. (NYSE:WCC)

GAMMA Investing LLC grew its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 19,737.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,389 shares of the technology company's stock after acquiring an additional 74,014 shares during the quarter. GAMMA Investing LLC owned about 0.15% of WESCO International worth $11,553,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Bank of New York Mellon Corp boosted its position in shares of WESCO International by 2.5% during the 4th quarter. Bank of New York Mellon Corp now owns 403,216 shares of the technology company's stock valued at $72,966,000 after acquiring an additional 10,016 shares during the last quarter. Davis Selected Advisers boosted its position in shares of WESCO International by 0.4% during the 4th quarter. Davis Selected Advisers now owns 256,987 shares of the technology company's stock valued at $46,504,000 after acquiring an additional 967 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of WESCO International by 149.3% during the 4th quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company's stock valued at $46,148,000 after acquiring an additional 152,727 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of WESCO International by 62.9% during the 4th quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company's stock valued at $38,906,000 after acquiring an additional 83,031 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of WESCO International by 0.4% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 195,731 shares of the technology company's stock valued at $35,419,000 after acquiring an additional 752 shares during the last quarter. Institutional investors own 93.76% of the company's stock.

WESCO International Price Performance

Shares of WESCO International stock opened at $173.52 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27. The business's 50 day simple moving average is $159.64 and its two-hundred day simple moving average is $175.60. The stock has a market capitalization of $8.47 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 1.45 and a beta of 1.83. WESCO International, Inc. has a one year low of $125.21 and a one year high of $216.17.

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 analysts' consensus estimates of $2.23 by ($0.02). The company had revenue of $5.34 billion during the quarter, compared to analysts' expectations of $5.27 billion. WESCO International had a return on equity of 13.63% and a net margin of 3.29%. WESCO International's revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the firm earned $2.30 earnings per share. Analysts forecast that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.4538 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.82 dividend on an annualized basis and a yield of 1.05%. WESCO International's dividend payout ratio (DPR) is currently 13.69%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WCC. Royal Bank of Canada lifted their price target 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 boosted their target price on WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Loop Capital dropped their target price on WESCO International from $250.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Wall Street Zen downgraded WESCO International from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, KeyCorp dropped their target price 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 analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $212.00.

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).

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