Lazard Asset Management LLC Sells 6,369 Shares of WESCO International, Inc. (NYSE:WCC)

Lazard Asset Management LLC trimmed its position in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 68.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,984 shares of the technology company's stock after selling 6,369 shares during the period. Lazard Asset Management LLC's holdings in WESCO International were worth $538,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC boosted its holdings in shares of WESCO International by 39.9% in the fourth quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company's stock worth $43,000 after acquiring an additional 67 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of WESCO International by 43.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company's stock worth $48,000 after acquiring an additional 81 shares during the period. Millstone Evans Group LLC bought a new position in shares of WESCO International in the fourth quarter worth $122,000. Dorsey & Whitney Trust CO LLC bought a new position in shares of WESCO International in the fourth quarter worth $204,000. Finally, Covestor Ltd boosted its holdings in shares of WESCO International by 5.5% in the fourth quarter. Covestor Ltd now owns 1,198 shares of the technology company's stock worth $216,000 after acquiring an additional 62 shares during the period. 93.76% of the stock is owned by institutional investors.

WESCO International Trading Up 2.6%

Shares of NYSE WCC traded up $4.34 during trading hours on Tuesday, hitting $169.02. The company's stock had a trading volume of 549,479 shares, compared to its average volume of 742,936. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. The stock has a market cap of $8.25 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 1.45 and a beta of 1.92. WESCO International, Inc. has a 12 month low of $125.21 and a 12 month high of $216.17. The business has a 50-day simple moving average of $158.23 and a 200-day simple moving average of $177.53.

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 for the quarter, missing the consensus estimate of $2.23 by ($0.02). The firm had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.27 billion. WESCO International had a net margin of 3.29% and a return on equity of 13.63%. The business's revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.30 earnings per share. On average, analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.4538 per share. This represents a $1.82 annualized dividend and a yield of 1.07%. This is a boost from WESCO International's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, March 14th. WESCO International's payout ratio is presently 13.69%.

Analysts Set New Price Targets

WCC has been the subject of several research analyst reports. Stephens lifted their price objective on WESCO International from $205.00 to $215.00 and gave the company an "overweight" rating in a research note on Tuesday, February 18th. KeyCorp dropped their price objective on WESCO International from $245.00 to $205.00 and set an "overweight" rating for the company in a research note on Monday, March 17th. Loop Capital dropped their price objective on WESCO International from $250.00 to $220.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Wall Street Zen lowered WESCO International from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. dropped their price objective on WESCO International from $210.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday. Two investment 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $212.00.

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).