WESCO International, Inc. (WCC) Holdings Raised by Bank of New York Mellon Corp
Bank of New York Mellon Corp raised its holdings in shares of WESCO International, Inc. (NYSE:WCC) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 437,185 shares of the technology company’s stock after acquiring an additional 22,204 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.90% of WESCO International worth $25,051,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of WCC. Tudor Investment Corp ET AL bought a new stake in WESCO International during the first quarter valued at about $8,096,000. Cornerstone Capital Management Holdings LLC. raised its holdings in WESCO International by 68.6% during the first quarter. Cornerstone Capital Management Holdings LLC. now owns 167,436 shares of the technology company’s stock valued at $11,644,000 after acquiring an additional 68,127 shares during the period. Geode Capital Management LLC raised its holdings in WESCO International by 15.1% during the first quarter. Geode Capital Management LLC now owns 347,305 shares of the technology company’s stock valued at $24,155,000 after acquiring an additional 45,629 shares during the period. Karp Capital Management Corp bought a new stake in WESCO International during the first quarter valued at about $2,600,000. Finally, Public Employees Retirement System of Ohio raised its holdings in WESCO International by 15.3% during 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 acquiring an additional 19,355 shares during the period. 98.17% of the stock is currently owned by institutional investors and hedge funds.
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In other WESCO International news, CFO David S. Schulz acquired 4,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was bought at an average price of $51.57 per share, for a total transaction of $206,280.00. Following the acquisition, the chief financial officer now owns 9,000 shares in the company, valued at $464,130. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.90% of the stock is currently owned by corporate insiders.
WCC has been the topic 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 on the stock in a report on Tuesday, May 30th. Credit Suisse Group set a $70.00 price target on WESCO International and gave the company a “buy” rating in a report on Saturday, June 10th. Northcoast Research initiated coverage on WESCO International in a report on Tuesday, July 25th. They set a “buy” rating and a $70.00 price target on the stock. Standpoint Research raised 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. Finally, TheStreet cut WESCO International from a “b-” rating to a “c” rating in a report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $68.46.
WESCO International, Inc. (NYSE:WCC) opened at 54.75 on Thursday. WESCO International, Inc. has a 52-week low of $48.95 and a 52-week high of $76.15. The company has a 50-day moving average price of $51.45 and a 200 day moving average price of $60.17. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 25.96 and a beta of 1.77.
WESCO International (NYSE:WCC) last released its quarterly earnings data on Thursday, July 27th. The technology company reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.04. The company had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.91 billion. WESCO International had a net margin of 1.41% and a return on equity of 9.11%. WESCO International’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 EPS. On average, analysts expect that WESCO International, Inc. will post $3.74 earnings per share for the current year.
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.
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