Highland Capital Management LLC Purchases New Position in WESCO International, Inc. (NYSE:WCC)

Highland Capital Management LLC acquired a new position in shares of WESCO International, Inc. (NYSE:WCC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,624 shares of the technology company's stock, valued at approximately $252,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bessemer Group Inc. grew its holdings in shares of WESCO International by 1,286.6% in the 1st quarter. Bessemer Group Inc. now owns 1,345 shares of the technology company's stock worth $209,000 after purchasing an additional 1,248 shares during the last quarter. SG Americas Securities LLC grew its stake in WESCO International by 56.6% during the first quarter. SG Americas Securities LLC now owns 4,135 shares of the technology company's stock worth $642,000 after buying an additional 1,495 shares during the last quarter. GAMMA Investing LLC grew its stake in WESCO International by 27.7% during the first quarter. GAMMA Investing LLC now owns 479 shares of the technology company's stock worth $74,000 after buying an additional 104 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of WESCO International by 5.2% during the first quarter. Harbor Capital Advisors Inc. now owns 11,470 shares of the technology company's stock worth $1,781,000 after buying an additional 562 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of WESCO International by 7.9% in the first quarter. Farther Finance Advisors LLC now owns 1,337 shares of the technology company's stock valued at $209,000 after acquiring an additional 98 shares during the last quarter. 93.76% of the stock is owned by institutional investors.

WESCO International Stock Performance

Shares of NYSE:WCC opened at $185.61 on Monday. The company has a current ratio of 2.15, a quick ratio of 1.23 and a debt-to-equity ratio of 1.02. WESCO International, Inc. has a 1-year low of $125.21 and a 1-year high of $216.17. The stock has a market capitalization of $9.06 billion, a P/E ratio of 14.04, a P/E/G ratio of 1.43 and a beta of 1.83. The business has a 50-day moving average price of $169.34 and a two-hundred day moving average price of $172.45.

WESCO International (NYSE:WCC - Get Free Report) last issued 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 return on equity of 13.40% and a net margin of 3.30%. The business had revenue of $5.34 billion for the quarter, compared to analyst estimates of $5.27 billion. During the same quarter in the prior year, the firm earned $2.30 EPS. The firm's quarterly revenue was down .1% compared to the same quarter last year. Equities analysts predict that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.4538 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.82 annualized dividend and a dividend yield of 0.98%. WESCO International's dividend payout ratio is currently 13.77%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WCC. JPMorgan Chase & Co. dropped their price target on WESCO International from $210.00 to $180.00 and set an "overweight" rating for the company in a report on Tuesday, May 27th. KeyCorp raised 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. Oppenheimer reduced their price target on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research report on Monday, May 5th. Finally, Loop Capital lowered their price objective on shares of WESCO International from $250.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, WESCO International currently has a consensus rating of "Moderate Buy" and an average target price of $212.63.

Insider Buying and Selling

In related news, EVP Christine Ann Wolf sold 3,106 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $177.14, for a total value of $550,196.84. Following the sale, the executive vice president now directly owns 30,181 shares in the company, valued at $5,346,262.34. This trade represents a 9.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.10% of the stock is owned by 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).

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