Massachusetts Financial Services Co. MA Has $29.50 Million Holdings in WESCO International (WCC)

Massachusetts Financial Services Co. MA cut its stake in WESCO International (NYSE:WCC) by 50.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,422 shares of the technology company’s stock after selling 483,580 shares during the period. Massachusetts Financial Services Co. MA owned 1.01% of WESCO International worth $29,500,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WCC. SG Americas Securities LLC acquired a new position in shares of WESCO International during the fourth quarter valued at $140,000. ETRADE Capital Management LLC acquired a new position in shares of WESCO International during the fourth quarter valued at $201,000. Capital Fund Management S.A. acquired a new position in shares of WESCO International during the fourth quarter valued at $218,000. New York State Teachers Retirement System acquired a new position in shares of WESCO International during the first quarter valued at $261,000. Finally, Xact Kapitalforvaltning AB acquired a new position in shares of WESCO International during the fourth quarter valued at $288,000.

WESCO International opened at $59.05 on Friday, Marketbeat.com reports. The stock has a market cap of $2.80 billion, a P/E ratio of 15.03, a PEG ratio of 1.25 and a beta of 1.85. WESCO International has a 52-week low of $59.10 and a 52-week high of $59.55. The company has a current ratio of 2.37, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, April 26th. The technology company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.05. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.92 billion. WESCO International had a return on equity of 9.30% and a net margin of 2.15%. WESCO International’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.76 earnings per share. sell-side analysts anticipate that WESCO International will post 4.77 earnings per share for the current fiscal year.

In related news, Director Lynn M. Utter sold 652 shares of the stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $59.55, for a total value of $38,826.60. Following the completion of the transaction, the director now owns 11,116 shares in the company, valued at approximately $661,957.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lynn M. Utter sold 768 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $65.56, for a total value of $50,350.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,828 shares of company stock worth $176,382. 1.90% of the stock is owned by corporate insiders.

WCC has been the topic of a number of research analyst reports. ValuEngine lowered WESCO International from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Zacks Investment Research raised WESCO International from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. WESCO International currently has an average rating of “Hold” and a consensus target price of $68.60.

WESCO International Company Profile

WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.

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

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