Mitsubishi UFJ Trust & Banking Corp Sells 1,575 Shares of WESCO International, Inc. (NYSE:WCC)

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of WESCO International, Inc. (NYSE:WCCGet Rating) by 44.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,985 shares of the technology company’s stock after selling 1,575 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in WESCO International were worth $213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in WESCO International during the second quarter worth $206,000. Quent Capital LLC lifted its stake in shares of WESCO International by 8.5% in the 2nd quarter. Quent Capital LLC now owns 3,153 shares of the technology company’s stock valued at $338,000 after purchasing an additional 247 shares during the period. Assetmark Inc. grew its stake in WESCO International by 167.2% during the second quarter. Assetmark Inc. now owns 358 shares of the technology company’s stock worth $38,000 after purchasing an additional 224 shares during the period. Comerica Bank increased its holdings in WESCO International by 710.4% in the second quarter. Comerica Bank now owns 79,181 shares of the technology company’s stock worth $8,692,000 after purchasing an additional 69,410 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its holdings in shares of WESCO International by 3.6% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 169,328 shares of the technology company’s stock worth $18,135,000 after buying an additional 5,806 shares in the last quarter. Institutional investors and hedge funds own 94.10% of the company’s stock.

WESCO International Trading Down 0.2 %

NYSE:WCC opened at $126.87 on Thursday. WESCO International, Inc. has a 12 month low of $99.00 and a 12 month high of $147.05. The company has a current ratio of 2.21, a quick ratio of 1.24 and a debt-to-equity ratio of 1.24. The firm’s 50 day moving average is $125.93 and its 200 day moving average is $124.43. The stock has a market capitalization of $6.45 billion, a PE ratio of 8.83, a price-to-earnings-growth ratio of 0.78 and a beta of 2.03.

Insiders Place Their Bets

In other news, major shareholder Equity Investors Vii L. Green purchased 9,941 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were purchased at an average price of $114.78 per share, with a total value of $1,141,027.98. Following the transaction, the insider now directly owns 3,470,265 shares of the company’s stock, valued at $398,317,016.70. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In other WESCO International news, major shareholder Equity Investors Vii L. Green purchased 9,941 shares of the company’s stock in a transaction that occurred on Thursday, September 29th. The shares were bought at an average cost of $114.78 per share, for a total transaction of $1,141,027.98. Following the purchase, the insider now owns 3,470,265 shares of the company’s stock, valued at approximately $398,317,016.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Equity Investors Vii L. Green purchased 97,157 shares of WESCO International stock in a transaction dated Tuesday, September 27th. The shares were purchased at an average price of $113.90 per share, with a total value of $11,066,182.30. Following the completion of the transaction, the insider now directly owns 3,464,881 shares in the company, valued at $394,649,945.90. The disclosure for this purchase can be found here. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WCC shares. Jefferies Financial Group upgraded shares of WESCO International from a “hold” rating to a “buy” rating and raised their price target for the stock from $148.00 to $150.00 in a report on Monday, October 17th. KeyCorp increased their price target on WESCO International from $155.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, September 8th. Finally, StockNews.com assumed coverage on WESCO International in a report on Wednesday, October 12th. They set a “hold” rating for the company.

WESCO International Profile

(Get Rating)

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).

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

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