Highland Capital Management LLC Acquires New Stake in WESCO International, Inc. (NYSE:WCC)

Highland Capital Management LLC acquired a new stake in WESCO International, Inc. (NYSE:WCC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,313 shares of the technology company’s stock, valued at approximately $221,000.

Other institutional investors have also bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. lifted its stake in WESCO International by 71.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after purchasing an additional 69 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in WESCO International in the third quarter valued at approximately $28,000. GAMMA Investing LLC lifted its position in shares of WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after acquiring an additional 100 shares in the last quarter. UMB Bank n.a. lifted its position in shares of WESCO International by 18.3% during the third quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after acquiring an additional 98 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of WESCO International during the second quarter worth $152,000. Hedge funds and other institutional investors own 93.76% of the company’s stock.

Insider Activity at WESCO International

In related news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the transaction, the director now owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WCC. KeyCorp dropped their target price on WESCO International from $205.00 to $195.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Loop Capital increased their target price on WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Royal Bank of Canada increased their target price on WESCO International from $171.00 to $187.00 and gave the stock a “sector perform” rating in a research report on Friday, September 27th. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Finally, Robert W. Baird upgraded WESCO International from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $522.00 to $550.00 in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, WESCO International currently has an average rating of “Moderate Buy” and an average target price of $243.86.

WESCO International Trading Down 0.8 %

WESCO International stock opened at $176.03 on Monday. The stock has a market cap of $8.95 billion, a P/E ratio of 14.66, a PEG ratio of 1.44 and a beta of 2.03. WESCO International, Inc. has a fifty-two week low of $123.97 and a fifty-two week high of $195.43. The firm’s fifty day moving average price is $165.91 and its 200-day moving average price is $166.81. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The firm had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The firm’s revenue was down 4.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.71 EPS. Equities research analysts forecast that WESCO International, Inc. will post 12.14 earnings per share for the current fiscal year.

WESCO International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.4125 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.94%. WESCO International’s dividend payout ratio is presently 13.74%.

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).