Lazard Asset Management LLC Cuts Stock Position in WESCO International, Inc. (NYSE:WCC)

Lazard Asset Management LLC reduced its holdings in WESCO International, Inc. (NYSE:WCC - Free Report) by 68.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,984 shares of the technology company's stock after selling 6,369 shares during the quarter. Lazard Asset Management LLC's holdings in WESCO International were worth $538,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Captrust Financial Advisors increased its holdings in WESCO International by 538.0% in the fourth quarter. Captrust Financial Advisors now owns 8,096 shares of the technology company's stock worth $1,465,000 after purchasing an additional 6,827 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in WESCO International by 149.3% in the fourth quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company's stock worth $46,148,000 after purchasing an additional 152,727 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in WESCO International by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 14,061 shares of the technology company's stock worth $2,544,000 after purchasing an additional 4,210 shares in the last quarter. State of Tennessee Department of Treasury increased its holdings in WESCO International by 38.6% in the fourth quarter. State of Tennessee Department of Treasury now owns 18,123 shares of the technology company's stock worth $3,280,000 after purchasing an additional 5,051 shares in the last quarter. Finally, MetLife Investment Management LLC increased its holdings in WESCO International by 8.6% in the fourth quarter. MetLife Investment Management LLC now owns 25,093 shares of the technology company's stock worth $4,541,000 after purchasing an additional 1,991 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Oppenheimer lowered their target price on WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a report on Monday, May 5th. KeyCorp reduced 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. Royal Bank of Canada raised their price objective on WESCO International from $212.00 to $213.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. Wall Street Zen cut WESCO International from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Finally, Loop Capital reduced 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. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $216.57.

WESCO International Stock Performance

Shares of WCC traded down $1.03 during mid-day trading on Friday, hitting $164.81. The stock had a trading volume of 357,132 shares, compared to its average volume of 743,713. The firm has a market cap of $8.04 billion, a P/E ratio of 12.61, a PEG ratio of 1.45 and a beta of 1.92. The business has a fifty day moving average price of $158.18 and a 200-day moving average price of $178.08. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27. WESCO International, Inc. has a 52 week low of $125.21 and a 52 week high of $216.17.

WESCO International (NYSE:WCC - Get Free Report) last released 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 net margin of 3.29% and a return on equity of 13.63%. The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.27 billion. During the same quarter in the previous year, the firm posted $2.30 earnings per share. The business's revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts expect that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.4538 dividend. This is a positive change from WESCO International's previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend was Friday, March 14th. 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).