WESCO International, Inc. (NYSE:WCC) Stake Reduced by Handelsbanken Fonder AB

Handelsbanken Fonder AB decreased its position in WESCO International, Inc. (NYSE:WCC - Free Report) by 2.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 187,488 shares of the technology company's stock after selling 4,694 shares during the quarter. Handelsbanken Fonder AB owned about 0.38% of WESCO International worth $29,117,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in WCC. Van ECK Associates Corp grew its holdings in WESCO International by 1.7% in the 4th quarter. Van ECK Associates Corp now owns 30,178 shares of the technology company's stock valued at $5,461,000 after buying an additional 512 shares during the period. Rhumbline Advisers grew its holdings in WESCO International by 1.9% in the 4th quarter. Rhumbline Advisers now owns 120,402 shares of the technology company's stock valued at $21,788,000 after buying an additional 2,271 shares during the period. V Square Quantitative Management LLC grew 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. New York State Teachers Retirement System grew its holdings in WESCO International by 12.0% in the 4th quarter. New York State Teachers Retirement System now owns 24,788 shares of the technology company's stock valued at $4,486,000 after buying an additional 2,654 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings 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 worth $72,966,000 after purchasing an additional 10,016 shares during the period. Institutional investors and hedge funds own 93.76% of the company's stock.

WESCO International Stock Down 2.0%

Shares of WCC traded down $3.62 during trading on Friday, reaching $173.15. The company's stock had a trading volume of 557,438 shares, compared to its average volume of 730,979. The company has a fifty day moving average of $163.08 and a two-hundred day moving average of $174.45. WESCO International, Inc. has a twelve month low of $125.21 and a twelve month high of $216.17. The company has a market cap of $8.45 billion, a price-to-earnings ratio of 13.25, a P/E/G ratio of 1.45 and a beta of 1.83. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02.

WESCO International (NYSE:WCC - Get Free Report) last announced its earnings results on Thursday, May 1st. The technology company reported $2.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). WESCO International had a net margin of 3.29% and a return on equity of 13.63%. The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.27 billion. During the same period in the previous 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. On average, sell-side analysts predict that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.4538 per share. This represents a $1.82 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, June 13th. WESCO International's dividend payout ratio is currently 13.69%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on WCC shares. 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 report on Tuesday, May 27th. Oppenheimer decreased their target price on WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a report on Monday, May 5th. KeyCorp boosted their target price on WESCO International from $180.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday. Loop Capital reduced their price target on WESCO International from $250.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Finally, Stephens boosted their price target on WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Two equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $212.63.

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).