Highland Capital Management LLC Invests $252,000 in WESCO International, Inc. (NYSE:WCC)

Highland Capital Management LLC bought a new stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,624 shares of the technology company's stock, valued at approximately $252,000.

Several other large investors also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp grew 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 period. Davis Selected Advisers lifted its position in WESCO International by 0.4% during the fourth quarter. Davis Selected Advisers now owns 256,987 shares of the technology company's stock valued at $46,504,000 after purchasing an additional 967 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in WESCO International by 149.3% during the fourth quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company's stock valued at $46,148,000 after purchasing an additional 152,727 shares during the period. Russell Investments Group Ltd. raised its stake in shares of 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 buying an additional 83,031 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of WESCO International by 19,737.1% during the 1st quarter. GAMMA Investing LLC now owns 74,389 shares of the technology company's stock valued at $11,553,000 after buying an additional 74,014 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on WCC shares. Loop Capital decreased their target price on shares of 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 boosted their price objective on WESCO International from $180.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, June 13th. Oppenheimer lowered their target price on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. dropped their target price on shares of WESCO International from $210.00 to $180.00 and set an "overweight" rating for the company in a research report on Tuesday, May 27th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, WESCO International has an average 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 business'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 owned 30,181 shares in the company, valued at approximately $5,346,262.34. The trade was a 9.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.30% of the stock is owned by corporate insiders.

WESCO International Price Performance

Shares of NYSE:WCC traded up $0.87 on Thursday, reaching $194.29. The company's stock had a trading volume of 397,772 shares, compared to its average volume of 720,327. The company has a 50-day simple moving average of $171.70 and a 200 day simple moving average of $172.68. WESCO International, Inc. has a 52-week low of $125.21 and a 52-week high of $216.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.23 and a current ratio of 2.15. The company has a market cap of $9.48 billion, a P/E ratio of 14.70, a PEG ratio of 1.46 and a beta of 1.83.

WESCO International (NYSE:WCC - Get Free Report) last released 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). 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 13.40% and a net margin of 3.30%. The company's revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.30 EPS. As a group, equities research analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, June 13th. WESCO International's dividend payout ratio is currently 13.69%.

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).