Canada Pension Plan Investment Board Has $16.85 Million Stake in WESCO International, Inc. (WCC)
Canada Pension Plan Investment Board boosted its stake in WESCO International, Inc. (NYSE:WCC) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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’s holdings in WESCO International were worth $16,846,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Selway Asset Management raised its position in WESCO International by 1.2% in the second quarter. Selway Asset Management now owns 25,100 shares of the technology company’s stock valued at $1,438,000 after buying an additional 300 shares in the last quarter. Janney Capital Management LLC purchased a new position in WESCO International during the second quarter valued at about $202,000. Aperio Group LLC raised its position in WESCO International by 2.3% in the second quarter. Aperio Group LLC now owns 38,252 shares of the technology company’s stock valued at $2,192,000 after buying an additional 863 shares in the last quarter. Trust Co. of Vermont purchased a new position in WESCO International during the second quarter valued at about $229,000. Finally, Public Employees Retirement System of Ohio raised its position in WESCO International by 15.3% in the first quarter. Public Employees Retirement System of Ohio now owns 145,880 shares of the technology company’s stock valued at $10,146,000 after buying an additional 19,355 shares in the last quarter. 98.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of WESCO International, Inc. (NYSE WCC) opened at 51.60 on Tuesday. WESCO International, Inc. has a 12-month low of $49.05 and a 12-month high of $76.15. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 24.47 and a beta of 1.77. The firm has a 50-day moving average of $54.96 and a 200 day moving average of $63.14.
WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported $1.02 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the firm posted $1.02 EPS. WESCO International’s revenue for the quarter was down .1% on a year-over-year basis. Equities analysts forecast that WESCO International, Inc. will post $3.75 earnings per share for the current fiscal year.
Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of WESCO International from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Standpoint Research raised shares of WESCO International from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Thursday, August 3rd. UBS AG reissued a “neutral” rating and set a $55.00 price objective (down from $67.00) on shares of WESCO International in a report on Monday, July 31st. BidaskClub lowered shares of WESCO International from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Finally, Northcoast Research assumed coverage on shares of WESCO International in a report on Tuesday, July 25th. They set a “buy” rating and a $70.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the company. WESCO International currently has a consensus rating of “Buy” and a consensus target price of $68.19.
In other WESCO International news, CFO David S. Schulz acquired 4,000 shares of the stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $51.57 per share, with a total value of $206,280.00. Following the transaction, the chief financial officer now owns 9,000 shares of the company’s stock, valued at approximately $464,130. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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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