Geode Capital Management LLC Sells 7,546 Shares of WESCO International, Inc. (NYSE:WCC)

Geode Capital Management LLC trimmed its position in WESCO International, Inc. (NYSE:WCC) by 1.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 755,107 shares of the technology company’s stock after selling 7,546 shares during the period. Geode Capital Management LLC’s holdings in WESCO International were worth $136,687,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WCC. Wilmington Savings Fund Society FSB acquired a new stake in shares of WESCO International during the 3rd quarter worth approximately $592,000. GAMMA Investing LLC grew its holdings 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 period. Integrated Investment Consultants LLC bought a new stake in shares of WESCO International during the 4th quarter valued at $278,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of WESCO International by 12,056.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 11,670 shares of the technology company’s stock valued at $2,112,000 after purchasing an additional 11,574 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of 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 purchasing an additional 752 shares during the last quarter. 93.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WCC shares. Royal Bank of Canada increased their target price on 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 lowered 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. StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, Stephens boosted their price objective on shares of WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $219.43.

WESCO International Price Performance

NYSE WCC opened at $136.88 on Tuesday. 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 has a market cap of $6.68 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 1.45 and a beta of 1.83. The business has a 50 day simple moving average of $173.13 and a 200 day simple moving average of $182.31. WESCO International, Inc. has a 52-week low of $125.21 and a 52-week high of $216.17.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. Analysts anticipate that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.33%. This is a positive change from WESCO International’s previous quarterly dividend of $0.41. The ex-dividend date was Friday, March 14th. WESCO International’s payout ratio is 13.85%.

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).