Nationwide Fund Advisors Sells 96,480 Shares of WESCO International, Inc. (WCC)

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.

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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.

Institutional Ownership by Quarter for WESCO International (NYSE:WCC)

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