Canada Pension Plan Investment Board raised its position in shares of WESCO International, Inc. (NYSE:WCC) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 294,000 shares of the technology company’s stock after buying an additional 13,300 shares during the period. Canada Pension Plan Investment Board owned approximately 0.60% of WESCO International worth $16,846,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WCC. Tyers Asset Management LLC raised its position in WESCO International by 173.8% in the first quarter. Tyers Asset Management LLC now owns 8,848 shares of the technology company’s stock worth $615,000 after buying an additional 5,616 shares during the last quarter. Elkfork Partners LLC raised its position in WESCO International by 173.8% in the first quarter. Elkfork Partners LLC now owns 12,166 shares of the technology company’s stock worth $846,000 after buying an additional 7,722 shares during the last quarter. Teachers Advisors LLC raised its position in WESCO International by 110.7% in the fourth quarter. Teachers Advisors LLC now owns 267,333 shares of the technology company’s stock worth $17,791,000 after buying an additional 140,427 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in WESCO International by 5.6% in the first quarter. Parametric Portfolio Associates LLC now owns 166,246 shares of the technology company’s stock worth $11,562,000 after buying an additional 8,852 shares during the last quarter. Finally, Tudor Investment Corp ET AL acquired a new position in WESCO International during the first quarter worth approximately $8,096,000. 98.00% of the stock is owned by institutional investors and hedge funds.
Shares of WESCO International, Inc. (NYSE:WCC) opened at 51.60 on Tuesday. The stock has a market cap of $2.48 billion, a P/E ratio of 24.47 and a beta of 1.77. The company has a 50 day moving average price of $54.96 and a 200 day moving average price of $63.14. WESCO International, Inc. has a 1-year low of $49.05 and a 1-year high of $76.15.
WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, July 27th. The technology company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.04. WESCO International had a net margin of 1.41% and a return on equity of 9.11%. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm posted $1.02 earnings per share. The company’s revenue was down .1% on a year-over-year basis. On average, equities analysts anticipate that WESCO International, Inc. will post $3.75 EPS for the current year.
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WCC has been the subject of a number of recent analyst reports. Zacks Investment Research raised WESCO International from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Tuesday, May 30th. Wolfe Research initiated coverage on WESCO International in a research report on Tuesday, July 11th. They set an “outperform” rating and a $66.00 price target for the company. Morgan Stanley raised WESCO International from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $79.00 to $74.00 in a research report on Tuesday, May 2nd. BidaskClub raised WESCO International from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, TheStreet lowered WESCO International from a “b-” rating to a “c” rating in a research report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $68.19.
In related news, CFO David S. Schulz purchased 4,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $51.57 per share, with a total value of $206,280.00. Following the completion of the purchase, the chief financial officer now owns 9,000 shares of the company’s stock, valued at approximately $464,130. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.90% of the company’s stock.
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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