State of Tennessee Department of Treasury Increases Stock Holdings in WESCO International, Inc. (NYSE:WCC)

State of Tennessee Department of Treasury grew its stake in WESCO International, Inc. (NYSE:WCC - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,123 shares of the technology company's stock after buying an additional 5,051 shares during the period. State of Tennessee Department of Treasury's holdings in WESCO International were worth $3,280,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in WESCO International during the third quarter valued at about $592,000. GAMMA Investing LLC grew its position in WESCO International by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company's stock worth $68,000 after acquiring an additional 75 shares during the last quarter. Integrated Investment Consultants LLC purchased a new stake in shares of WESCO International during the fourth quarter valued at approximately $278,000. MassMutual Private Wealth & Trust FSB increased its stake in shares of WESCO International by 12,056.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 11,670 shares of the technology company's stock worth $2,112,000 after buying an additional 11,574 shares during the period. Finally, Farmers & Merchants Investments Inc. grew 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 worth $35,419,000 after acquiring an additional 752 shares during the last quarter. Institutional investors own 93.76% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WCC. Royal Bank of Canada raised their target price on shares of WESCO International from $212.00 to $213.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 12th. Stephens lifted their price objective on WESCO International from $205.00 to $215.00 and gave the company an "overweight" rating in a research report on Tuesday, February 18th. KeyCorp decreased their target price on WESCO International from $245.00 to $205.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Finally, StockNews.com downgraded WESCO International from a "buy" rating to a "hold" rating in a report on Wednesday, February 12th. Two equities research 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 company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $219.43.

WESCO International Trading Up 0.8 %

WESCO International stock traded up $1.33 during midday trading on Wednesday, reaching $163.00. The stock had a trading volume of 935,840 shares, compared to its average volume of 765,927. WESCO International, Inc. has a 52-week low of $125.21 and a 52-week high of $216.17. The company has a fifty day moving average of $159.24 and a 200 day moving average of $180.05. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 1.45 and a beta of 1.83. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02.

WESCO International (NYSE:WCC - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The technology company reported $3.16 earnings per share for the quarter, missing analysts' consensus estimates of $3.23 by ($0.07). WESCO International had a net margin of 3.29% and a return on equity of 13.63%. On average, analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.4538 per share. The ex-dividend date was Friday, March 14th. This represents a $1.82 dividend on an annualized basis and a yield of 1.11%. This is an increase from WESCO International's previous quarterly dividend of $0.41. WESCO International's dividend payout ratio (DPR) is presently 13.85%.

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).