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

J. L. Bainbridge & Co. Inc. reduced its holdings in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,936 shares of the technology company's stock after selling 1,438 shares during the quarter. WESCO International accounts for about 1.2% of J. L. Bainbridge & Co. Inc.'s holdings, 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 hedge funds and other institutional investors also recently made changes to their positions in WCC. Bank of New York Mellon Corp lifted its position 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 valued at $72,966,000 after acquiring an additional 10,016 shares in the last quarter. Davis Selected Advisers raised its stake in shares of WESCO International by 0.4% in the fourth quarter. Davis Selected Advisers now owns 256,987 shares of the technology company's stock worth $46,504,000 after purchasing an additional 967 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of WESCO International by 149.3% in 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 in the last quarter. Russell Investments Group Ltd. boosted its position in shares of WESCO International by 62.9% during the fourth quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company's stock valued at $38,906,000 after buying an additional 83,031 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in WESCO International by 19,737.1% during the first quarter. GAMMA Investing LLC now owns 74,389 shares of the technology company's stock worth $11,553,000 after buying an additional 74,014 shares in the last quarter. 93.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WCC shares. KeyCorp raised their price objective on WESCO International from $180.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, June 13th. JPMorgan Chase & Co. dropped their price target on shares of WESCO International from $210.00 to $180.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 27th. Oppenheimer cut their price target 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, Loop Capital decreased 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 note on Monday, May 12th. Two equities research 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $212.63.

WESCO International Stock Performance

WCC stock traded up $4.21 during mid-day trading on Tuesday, hitting $189.41. The company had a trading volume of 648,107 shares, compared to its average volume of 743,386. 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 firm has a market cap of $9.24 billion, a PE ratio of 14.33, a price-to-earnings-growth ratio of 1.43 and a beta of 1.83. WESCO International, Inc. has a 12 month low of $125.21 and a 12 month high of $216.17. The stock's fifty day moving average price is $170.12 and its two-hundred day moving average price is $172.41.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings results 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). 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 analysts' expectations of $5.27 billion. During the same quarter in the previous year, the business earned $2.30 EPS. The company's revenue for the quarter was down .1% on a year-over-year basis. On average, analysts forecast that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.4538 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.96%. WESCO International's dividend payout ratio is presently 13.77%.

Insider Activity at WESCO International

In related news, EVP Christine Ann Wolf sold 3,106 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $177.14, for a total value of $550,196.84. Following the sale, the executive vice president directly owned 30,181 shares in the company, valued at approximately $5,346,262.34. The trade was a 9.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.10% of the stock is owned by corporate insiders.

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).