J. L. Bainbridge & Co. Inc. Decreases Stock Holdings in WESCO International, Inc. (NYSE:WCC)

J. L. Bainbridge & Co. Inc. cut its holdings in WESCO International, Inc. (NYSE:WCC - Free Report) by 1.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,936 shares of the technology company's stock after selling 1,438 shares during the period. WESCO International accounts for 1.2% of J. L. Bainbridge & Co. Inc.'s investment portfolio, making the stock its 24th biggest position. J. L. Bainbridge & Co. Inc. owned approximately 0.16% of WESCO International worth $12,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of WCC. Bank of New York Mellon Corp boosted its holdings in WESCO International by 2.5% in 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 buying an additional 10,016 shares during the period. Jones Financial Companies Lllp boosted its holdings in WESCO International by 44.8% in the 4th quarter. Jones Financial Companies Lllp now owns 3,314 shares of the technology company's stock worth $600,000 after buying an additional 1,026 shares during the period. Davis Selected Advisers boosted its holdings in WESCO International by 0.4% in the 4th quarter. Davis Selected Advisers now owns 256,987 shares of the technology company's stock worth $46,504,000 after buying an additional 967 shares during the period. Dorsey & Whitney Trust CO LLC bought a new position in WESCO International in the 4th quarter worth approximately $204,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in WESCO International by 43.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company's stock worth $48,000 after buying an additional 81 shares during the period. 93.76% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on WCC shares. Loop Capital cut their price target on shares of WESCO International from $250.00 to $220.00 and set a "buy" rating for the company in a report on Monday, May 12th. Oppenheimer cut their price target on shares of WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a report on Monday, May 5th. JPMorgan Chase & Co. cut their price target on shares of WESCO International from $210.00 to $180.00 and set an "overweight" rating for the company in a report on Tuesday, May 27th. Finally, KeyCorp raised their price target on shares of WESCO International from $180.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, June 13th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, WESCO International has an average rating of "Moderate Buy" and a consensus price target of $212.63.

Insiders Place Their Bets

In other WESCO International 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 now owns 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 SEC, which can be accessed through this hyperlink. 3.30% of the stock is currently owned by insiders.

WESCO International Price Performance

Shares of NYSE WCC traded down $0.49 during mid-day trading on Friday, reaching $185.61. 890,767 shares of the company were exchanged, compared to its average volume of 723,457. WESCO International, Inc. has a 52 week low of $125.21 and a 52 week high of $216.17. The company has a quick ratio of 1.23, a current ratio of 2.15 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $9.06 billion, a PE ratio of 14.04, a PEG ratio of 1.44 and a beta of 1.83. The company's 50 day moving average price is $169.34 and its 200 day moving average price is $172.75.

WESCO International (NYSE:WCC - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.40% and a net margin of 3.30%. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.27 billion. During the same period in the prior year, the firm posted $2.30 earnings per share. The business's revenue was down .1% on a year-over-year basis. Sell-side analysts forecast that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The firm 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. This represents a $1.82 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Friday, June 13th. WESCO International's dividend payout ratio is presently 13.77%.

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).