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

Redwood Investment Management LLC acquired a new position in WESCO International, Inc. (NYSE:WCC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 7,987 shares of the technology company’s stock, valued at approximately $1,445,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ameriprise Financial Inc. boosted its position in WESCO International by 149.3% in the 4th quarter. Ameriprise Financial Inc. now owns 255,035 shares of the technology company’s stock worth $46,148,000 after purchasing an additional 152,727 shares in the last quarter. Handelsbanken Fonder AB grew its position in WESCO International by 167.3% during the fourth quarter. Handelsbanken Fonder AB now owns 192,182 shares of the technology company’s stock valued at $34,777,000 after buying an additional 120,289 shares during the period. Russell Investments Group Ltd. increased its holdings in WESCO International by 62.9% in the fourth quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company’s stock valued at $38,906,000 after buying an additional 83,031 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position 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 acquiring an additional 11,574 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of WESCO International in the fourth quarter worth about $2,060,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WCC. Oppenheimer dropped their price objective on WESCO International from $225.00 to $195.00 and set an “outperform” rating on the stock in a report on Monday, May 5th. KeyCorp cut their price objective 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. Royal Bank of Canada raised their price target on shares of WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Loop Capital cut 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. Finally, StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $216.57.

WESCO International Trading Down 1.5%

Shares of WCC stock opened at $171.25 on Friday. The stock has a market capitalization of $8.36 billion, a P/E ratio of 13.10, a price-to-earnings-growth 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 company has a 50 day moving average price of $157.28 and a 200 day moving average price of $178.97.

WESCO International (NYSE:WCC) last released 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 company had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.27 billion. WESCO International had a net margin of 3.29% and a return on equity of 13.63%. The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $2.30 earnings per share. Equities research analysts predict that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $0.4538 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from WESCO International’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 1.06%. WESCO International’s dividend payout ratio (DPR) is currently 13.69%.

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).