Pinebridge Investments L.P. Raises Stake in WESCO International, Inc. (NYSE:WCC)

Pinebridge Investments L.P. lifted its stake in WESCO International, Inc. (NYSE:WCC - Free Report) by 42.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,061 shares of the technology company's stock after buying an additional 4,210 shares during the quarter. Pinebridge Investments L.P.'s holdings in WESCO International were worth $2,544,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. State of Tennessee Department of Treasury boosted its stake in shares of 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 buying an additional 5,051 shares during the last quarter. MetLife Investment Management LLC raised its holdings in WESCO International by 8.6% in the 4th 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 during the period. Gabelli Funds LLC acquired a new position in WESCO International in the 4th quarter worth about $633,000. Jaffetilchin Investment Partners LLC acquired a new position in WESCO International in the 4th quarter worth about $1,094,000. Finally, Covestor Ltd raised its holdings in WESCO International by 5.5% in the 4th quarter. Covestor Ltd now owns 1,198 shares of the technology company's stock worth $216,000 after purchasing an additional 62 shares during the period. Hedge funds and other institutional investors own 93.76% of the company's stock.

WESCO International Trading Down 7.0 %

WESCO International stock traded down $11.33 during midday trading on Thursday, hitting $151.63. 1,558,390 shares of the stock were exchanged, compared to its average volume of 769,759. The company has a current ratio of 2.20, a quick ratio of 1.27 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 11.60, a PEG ratio of 1.45 and a beta of 1.83. The stock's 50-day simple moving average is $158.84 and its 200 day simple moving average is $179.93. WESCO International, Inc. has a fifty-two week low of $125.21 and a fifty-two week high of $216.17.

WESCO International (NYSE:WCC - Get Free Report) last announced its 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 13.63% and a net margin of 3.29%. The company's quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $2.30 EPS. On average, equities analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.82 annualized dividend and a dividend yield of 1.20%. WESCO International's dividend payout ratio (DPR) is presently 13.85%.

Wall Street Analyst Weigh In

Several brokerages recently commented on WCC. StockNews.com cut WESCO International from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Royal Bank of Canada upped their target price on shares of WESCO International from $212.00 to $213.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 12th. KeyCorp dropped their target price on shares of WESCO International from $245.00 to $205.00 and set an "overweight" rating for the company in a report on Monday, March 17th. Finally, Stephens upped their target price on shares of WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, WESCO International presently has an average rating of "Moderate Buy" and an average price target of $219.43.

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).