James Investment Research Inc. lowered its position in shares of WESCO International, Inc. (NYSE:WCC) by 85.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 19,975 shares of the technology company’s stock after selling 120,606 shares during the period. James Investment Research Inc.’s holdings in WESCO International were worth $1,145,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Selway Asset Management boosted its stake in WESCO International by 0.4% in the first quarter. Selway Asset Management now owns 24,800 shares of the technology company’s stock worth $1,725,000 after buying an additional 100 shares in the last quarter. Amalgamated Bank boosted its stake 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 buying an additional 225 shares in the last quarter. OppenheimerFunds Inc. boosted its stake 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 buying an additional 626 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in WESCO International by 17.6% in the first quarter. Neuberger Berman Group LLC now owns 9,552 shares of the technology company’s stock worth $664,000 after buying an additional 1,432 shares in the last quarter. Finally, DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in WESCO International during the first quarter worth about $146,000. Institutional investors and hedge funds own 98.15% of the company’s stock.
Shares of WESCO International, Inc. (NYSE:WCC) opened at 57.20 on Friday. The firm has a 50-day moving average price of $57.62 and a 200-day moving average price of $65.20. WESCO International, Inc. has a 12 month low of $51.45 and a 12 month high of $76.15. The company has a market capitalization of $2.79 billion, a PE ratio of 27.20 and a beta of 1.79.
WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, April 27th. The technology company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.76 billion. WESCO International had a return on equity of 9.30% and a net margin of 1.41%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.77 EPS. On average, equities research analysts predict that WESCO International, Inc. will post $3.87 EPS for the current year.
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A number of research firms have recently issued reports on WCC. Credit Suisse Group set a $70.00 price objective on WESCO International and gave the company a “buy” rating in a research report on Saturday, June 10th. UBS AG restated a “neutral” rating and set a $67.00 price objective (down from $69.00) on shares of WESCO International in a research report on Tuesday, May 2nd. BidaskClub cut WESCO International from a “sell” rating to a “strong sell” rating in a research report on Wednesday, June 21st. Barclays PLC restated an “equal weight” rating and set a $68.00 price objective (up from $65.00) on shares of WESCO International in a research report on Wednesday, April 19th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $70.00 price objective (down from $84.00) on shares of WESCO International in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $69.20.
WESCO International Company 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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