Nationwide Fund Advisors lessened its holdings in WESCO International, Inc. (NYSE:WCC) by 89.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,020 shares of the technology company’s stock after selling 96,480 shares during the period. Nationwide Fund Advisors’ holdings in WESCO International were worth $631,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of WCC. Janney Capital Management LLC acquired a new position in WESCO International in the second quarter worth about $202,000. Trust Co. of Vermont acquired a new position in WESCO International in the second quarter worth about $229,000. OppenheimerFunds Inc. raised its position in WESCO International by 14.3% in the first quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock worth $348,000 after purchasing an additional 626 shares in the last quarter. Amalgamated Bank raised its position in WESCO International by 3.3% in the first quarter. Amalgamated Bank now owns 6,958 shares of the technology company’s stock worth $484,000 after purchasing an additional 225 shares in the last quarter. Finally, Neuberger Berman Group LLC raised its position in WESCO International by 3.4% in the second quarter. Neuberger Berman Group LLC now owns 9,878 shares of the technology company’s stock worth $566,000 after purchasing an additional 326 shares in the last quarter. 98.21% of the stock is owned by hedge funds and other institutional investors.
Shares of WESCO International, Inc. (NYSE WCC) opened at 63.15 on Wednesday. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 29.94 and a beta of 1.80. WESCO International, Inc. has a 12-month low of $48.95 and a 12-month high of $76.15. The stock’s 50 day moving average is $58.53 and its 200 day moving average is $57.55.
WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.09. The business had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.93 billion. WESCO International had a net margin of 2.52% and a return on equity of 9.17%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. Equities analysts expect that WESCO International, Inc. will post $3.86 earnings per share for the current year.
Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of WESCO International from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Tuesday. Credit Suisse Group set a $70.00 price target on shares of WESCO International and gave the stock an “outperform” rating in a research report on Tuesday. UBS AG increased their price target on shares of WESCO International from $55.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Wells Fargo & Company increased their price target on shares of WESCO International from $67.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, October 27th. Finally, Wolfe Research lowered shares of WESCO International from an “outperform” rating to a “market perform” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $68.29.
In related news, CFO David S. Schulz acquired 4,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $51.57 per share, for a total transaction of $206,280.00. Following the transaction, the chief financial officer now directly owns 9,000 shares in the company, valued at $464,130. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.90% of the stock is owned by corporate insiders.
WESCO International Profile
WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.
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