Versant Capital Management Inc Increases Stock Position in WESCO International, Inc. (NYSE:WCC)

Versant Capital Management Inc lifted its position in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 2,208.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,939 shares of the technology company's stock after purchasing an additional 1,855 shares during the period. Versant Capital Management Inc's holdings in WESCO International were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its holdings 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 buying an additional 10,016 shares in the last quarter. Davis Selected Advisers increased its position in WESCO International by 0.4% during the fourth quarter. Davis Selected Advisers now owns 256,987 shares of the technology company's stock worth $46,504,000 after acquiring an additional 967 shares during the period. Ameriprise Financial Inc. increased its position in WESCO International by 149.3% during the fourth quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company's stock worth $46,148,000 after acquiring an additional 152,727 shares during the period. Russell Investments Group Ltd. raised its stake in WESCO International by 62.9% in the 4th quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company's stock worth $38,906,000 after purchasing an additional 83,031 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its holdings in WESCO International by 0.4% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 195,731 shares of the technology company's stock valued at $35,419,000 after purchasing an additional 752 shares during the period. 93.76% of the stock is owned by institutional investors and hedge funds.

WESCO International Trading Down 0.6%

WCC stock traded down $0.99 during trading on Wednesday, hitting $172.19. The company had a trading volume of 73,670 shares, compared to its average volume of 737,077. The stock has a market cap of $8.40 billion, a PE ratio of 13.17, a PEG ratio of 1.45 and a beta of 1.83. The business has a 50-day moving average of $158.70 and a 200-day moving average of $176.26. The company has a current ratio of 2.20, a quick ratio of 1.27 and a debt-to-equity ratio of 1.02. WESCO International, Inc. has a one year low of $125.21 and a one year high of $216.17.

WESCO International (NYSE:WCC - Get Free Report) last announced 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 business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.27 billion. During the same period in the prior year, the firm earned $2.30 earnings per share. The firm's revenue for the quarter was down .1% compared to the same quarter last year. Research analysts predict that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.4538 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.05%. WESCO International's payout ratio is presently 13.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WCC shares. Loop Capital reduced their price target on WESCO International from $250.00 to $220.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Wall Street Zen cut WESCO International from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. KeyCorp dropped their price target 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. JPMorgan Chase & Co. reduced their price objective on shares of WESCO International from $210.00 to $180.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 27th. Finally, Oppenheimer decreased their price target on WESCO International from $225.00 to $195.00 and set an "outperform" rating on the stock in a research note on Monday, May 5th. Two 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $212.00.

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).