Redwood Investment Management LLC Acquires Shares of 7,987 WESCO International, Inc. (NYSE:WCC)

Redwood Investment Management LLC purchased a new position in shares of WESCO International, Inc. (NYSE:WCC) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 7,987 shares of the technology company’s stock, valued at approximately $1,445,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. V Square Quantitative Management LLC raised its holdings in WESCO International by 39.9% during the fourth quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock worth $43,000 after purchasing an additional 67 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in WESCO International by 43.5% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock valued at $48,000 after buying an additional 81 shares during the last quarter. Millstone Evans Group LLC purchased a new position in WESCO International during the fourth quarter worth $122,000. Dorsey & Whitney Trust CO LLC purchased a new stake in WESCO International during the 4th quarter worth about $204,000. Finally, Covestor Ltd raised its stake in WESCO International by 5.5% in the 4th quarter. Covestor Ltd now owns 1,198 shares of the technology company’s stock valued at $216,000 after purchasing an additional 62 shares during the last quarter. 93.76% of the stock is owned by hedge funds and other institutional investors.

WESCO International Stock Performance

Shares of NYSE:WCC opened at $171.25 on Friday. The business has a 50-day moving average of $157.28 and a two-hundred day moving average of $178.97. The firm has a market capitalization of $8.36 billion, a PE ratio of 13.10, a P/E/G ratio of 1.45 and a beta of 1.92. WESCO International, Inc. has a 12 month low of $125.21 and a 12 month high of $216.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, May 1st. The technology company reported $2.21 EPS for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). WESCO International had a net margin of 3.29% and a return on equity of 13.63%. The business had revenue of $5.34 billion during the quarter, compared to analysts’ expectations of $5.27 billion. During the same period in the prior year, the business posted $2.30 EPS. The business’s revenue was down .1% on a year-over-year basis. As a group, research analysts forecast that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.4538 dividend. This is a positive change from WESCO International’s previous quarterly dividend of $0.41. This represents a $1.82 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Friday, March 14th. WESCO International’s payout ratio is currently 13.69%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WCC. Loop Capital cut their price objective on shares of WESCO International from $250.00 to $220.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com downgraded WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Oppenheimer decreased their price objective on WESCO International from $225.00 to $195.00 and set an “outperform” rating on the stock in a report on Monday, May 5th. Royal Bank of Canada lifted their price objective on WESCO International from $212.00 to $213.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 12th. Finally, Stephens raised their price target on WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.57.

About WESCO International

WESCO International, Inc provides business-to-business distribution, logistics services, and supply chain solutions in the United States, Canada, and internationally. It operates through three segments: Electrical & Electronic Solutions (EES), Communications & Security Solutions (CSS), and Utility and Broadband Solutions (UBS).