Peregrine Capital Management LLC Increases Stock Holdings in WESCO International, Inc. (NYSE:WCC)

Peregrine Capital Management LLC boosted its stake in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 28.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,188 shares of the technology company's stock after acquiring an additional 1,800 shares during the quarter. Peregrine Capital Management LLC's holdings in WESCO International were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in WCC. Whittier Trust Co. of Nevada Inc. lifted its position in WESCO International by 43.5% during the 4th 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. Parallel Advisors LLC raised its stake in shares of WESCO International by 21.1% during the 1st quarter. Parallel Advisors LLC now owns 447 shares of the technology company's stock worth $69,000 after buying an additional 78 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of WESCO International by 27.7% during the 1st quarter. GAMMA Investing LLC now owns 479 shares of the technology company's stock worth $74,000 after buying an additional 104 shares in the last quarter. Millstone Evans Group LLC purchased a new position in shares of WESCO International during the 4th quarter worth approximately $122,000. Finally, NBC Securities Inc. raised its stake in shares of WESCO International by 101,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,020 shares of the technology company's stock worth $158,000 after buying an additional 1,019 shares in the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WCC. JPMorgan Chase & Co. cut their target price on WESCO International from $210.00 to $180.00 and set an "overweight" rating for the company in a research note on Tuesday, May 27th. Loop Capital cut their target price 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. Oppenheimer cut their target price on WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a research note on Monday, May 5th. Finally, 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. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $212.63.

WESCO International Price Performance

WESCO International stock traded up $0.87 during mid-day trading on Friday, hitting $194.29. 397,772 shares of the company were exchanged, compared to its average volume of 722,093. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.15 and a quick ratio of 1.23. The business's 50 day simple moving average is $173.02 and its two-hundred day simple moving average is $172.75. The company has a market capitalization of $9.48 billion, a P/E ratio of 14.70, a PEG ratio of 1.50 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.

WESCO International (NYSE:WCC - Get Free Report) last released its quarterly earnings results 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 company had revenue of $5.34 billion for 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 business's quarterly revenue was down .1% on a year-over-year basis. During the same period in the previous year, the business posted $2.30 EPS. Analysts forecast that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.4538 per share. This represents a $1.82 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend was Friday, June 13th. WESCO International's payout ratio is 13.77%.

Insiders Place Their Bets

In other WESCO International news, EVP Christine Ann Wolf sold 3,106 shares of the firm's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $177.14, for a total transaction of $550,196.84. Following the completion of the transaction, the executive vice president owned 30,181 shares of the company's stock, valued at approximately $5,346,262.34. This trade represents a 9.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.30% of the company's stock.

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).