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

GAMMA Investing LLC lifted its stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 19,737.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 74,389 shares of the technology company's stock after purchasing an additional 74,014 shares during the period. GAMMA Investing LLC owned 0.15% of WESCO International worth $11,553,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Covestor Ltd lifted its holdings 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 acquiring an additional 62 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in WESCO International by 39.9% in the fourth quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company's stock valued at $43,000 after acquiring an additional 67 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings 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 acquiring an additional 81 shares during the last quarter. Van ECK Associates Corp lifted its holdings in WESCO International by 1.7% in the fourth quarter. Van ECK Associates Corp now owns 30,178 shares of the technology company's stock valued at $5,461,000 after acquiring an additional 512 shares during the last quarter. Finally, Hudson Edge Investment Partners Inc. lifted its holdings in WESCO International by 17.1% in the fourth quarter. Hudson Edge Investment Partners Inc. now owns 4,552 shares of the technology company's stock valued at $824,000 after acquiring an additional 666 shares during the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on WCC. Stephens upped their price target on WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Loop Capital decreased their price target on WESCO International from $250.00 to $220.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. KeyCorp decreased their price target on WESCO International from $245.00 to $205.00 and set an "overweight" rating on the stock in a research note on Monday, March 17th. Oppenheimer decreased their price target on WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Finally, Royal Bank of Canada upped their price target on WESCO International from $212.00 to $213.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. Two investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $212.00.

WESCO International Stock Down 1.0%

Shares of NYSE WCC traded down $1.72 during mid-day trading on Wednesday, hitting $177.60. The company had a trading volume of 627,847 shares, compared to its average volume of 732,557. The company has a market capitalization of $8.67 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.45 and a beta of 1.83. 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 1-year low of $125.21 and a 1-year high of $216.17. The business's 50-day simple moving average is $161.47 and its 200 day simple moving average is $175.19.

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 company had revenue of $5.34 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $2.30 earnings per share. On average, analysts predict that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.4538 dividend. This represents a $1.82 annualized dividend and a yield of 1.02%. The ex-dividend date is Friday, June 13th. WESCO International's dividend payout ratio (DPR) is presently 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).