Redwood Investment Management LLC Acquires Shares of 7,987 WESCO International, Inc. (NYSE:WCC)

Redwood Investment Management LLC acquired a new stake in WESCO International, Inc. (NYSE:WCC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,987 shares of the technology company's stock, valued at approximately $1,445,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Ameriprise Financial Inc. raised its holdings in WESCO International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company's stock valued at $46,148,000 after acquiring an additional 152,727 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of WESCO International by 167.3% in the 4th quarter. Handelsbanken Fonder AB now owns 192,182 shares of the technology company's stock valued at $34,777,000 after purchasing an additional 120,289 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of WESCO International by 62.9% during 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 during the period. MassMutual Private Wealth & Trust FSB increased its position in WESCO International by 12,056.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 11,670 shares of the technology company's stock worth $2,112,000 after purchasing an additional 11,574 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in WESCO International during the fourth quarter valued at approximately $2,060,000. Hedge funds and other institutional investors own 93.76% of the company's stock.

Analysts Set New Price Targets

WCC has been the topic of a number of research reports. Royal Bank of Canada raised their target price on shares of WESCO International from $212.00 to $213.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. KeyCorp cut their price objective on WESCO International from $245.00 to $205.00 and set an "overweight" rating on the stock in a research report on Monday, March 17th. Oppenheimer reduced their price objective 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. Loop Capital lowered 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. Finally, StockNews.com lowered WESCO International from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $216.57.

WESCO International Stock Down 1.1%

Shares of NYSE:WCC traded down $1.97 during trading on Monday, hitting $171.34. The company's stock had a trading volume of 514,093 shares, compared to its average volume of 749,480. The company has a market capitalization of $8.36 billion, a PE ratio of 13.11, a PEG ratio of 1.45 and a beta of 1.92. WESCO International, Inc. has a fifty-two week low of $125.21 and a fifty-two week high of $216.17. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. The stock's 50-day moving average price is $157.58 and its two-hundred day moving average price is $178.86.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.23 by ($0.02). The business had revenue of $5.34 billion during the quarter, compared to analyst estimates of $5.27 billion. WESCO International had a net margin of 3.29% and a return on equity of 13.63%. The business's revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $2.30 earnings per share. As a group, sell-side analysts expect that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.4538 per share. This represents a $1.82 dividend on an annualized basis and a yield of 1.06%. This is an increase from WESCO International's previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, March 14th. WESCO International's dividend payout ratio is 13.69%.

WESCO International Company 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).