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

Peregrine Capital Management LLC grew its stake in WESCO International, Inc. (NYSE:WCC - Free Report) by 28.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake 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 purchasing an additional 10,016 shares in the last quarter. Davis Selected Advisers lifted 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 buying an additional 967 shares in the last quarter. Ameriprise Financial Inc. lifted its stake 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 worth $46,148,000 after buying an additional 152,727 shares in the last quarter. Russell Investments Group Ltd. grew its holdings 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 raised its holdings in WESCO International by 19,737.1% in the 1st quarter. GAMMA Investing LLC now owns 74,389 shares of the technology company's stock worth $11,553,000 after acquiring an additional 74,014 shares during the last quarter. 93.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Christine Ann Wolf sold 3,106 shares of WESCO International stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $177.14, for a total transaction of $550,196.84. Following the transaction, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have commented on the company. KeyCorp lifted their target price on WESCO International from $180.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, June 13th. JPMorgan Chase & Co. dropped their price objective on 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 decreased their target price on WESCO International from $225.00 to $195.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. Finally, Loop Capital dropped their price target on shares of WESCO International from $250.00 to $220.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $212.63.

WESCO International Price Performance

Shares of WESCO International stock remained flat at $193.42 during trading hours on Thursday. The company's stock had a trading volume of 142,199 shares, compared to its average volume of 719,387. The business's 50 day moving average is $171.70 and its 200 day moving average is $172.68. 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 company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 14.66, a price-to-earnings-growth ratio of 1.46 and a beta of 1.83. WESCO International, Inc. has a 1-year low of $125.21 and a 1-year high of $216.17.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $2.21 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 during the quarter, compared to analysts' expectations of $5.27 billion. During the same quarter in the previous year, the company earned $2.30 EPS. The business's quarterly revenue was down .1% compared to the same quarter last year. Sell-side analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a $0.4538 dividend. 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 0.94%. WESCO International's payout ratio is currently 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).