US Bancorp DE Cuts Stock Position in WESCO International, Inc. (NYSE:WCC)

US Bancorp DE lowered its position in WESCO International, Inc. (NYSE:WCCGet Rating) by 7.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,241 shares of the technology company’s stock after selling 493 shares during the period. US Bancorp DE’s holdings in WESCO International were worth $745,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of WCC. Comerica Bank grew its position in shares of WESCO International by 710.4% in the 2nd quarter. Comerica Bank now owns 79,181 shares of the technology company’s stock worth $8,692,000 after buying an additional 69,410 shares during the last quarter. Braun Stacey Associates Inc. increased its holdings in WESCO International by 70.6% in the 2nd quarter. Braun Stacey Associates Inc. now owns 135,137 shares of the technology company’s stock worth $14,473,000 after acquiring an additional 55,928 shares in the last quarter. UBS Asset Management Americas Inc. increased its holdings in WESCO International by 29.5% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 82,766 shares of the technology company’s stock worth $8,864,000 after acquiring an additional 18,860 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of WESCO International by 55.8% during the first quarter. MetLife Investment Management LLC now owns 23,551 shares of the technology company’s stock worth $3,065,000 after buying an additional 8,430 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its position in shares of WESCO International by 8.2% during the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 82,681 shares of the technology company’s stock valued at $8,855,000 after acquiring an additional 6,283 shares during the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

WESCO International Stock Performance

Shares of WCC opened at $136.06 on Friday. 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 company’s 50 day simple moving average is $127.12 and its 200-day simple moving average is $126.41. WESCO International, Inc. has a 12-month low of $99.00 and a 12-month high of $147.05. The firm has a market cap of $6.92 billion, a PE ratio of 9.47, a price-to-earnings-growth ratio of 0.83 and a beta of 1.95.

WESCO International (NYSE:WCCGet Rating) last released its earnings results on Thursday, November 3rd. The technology company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.35 by $0.14. The company had revenue of $5.45 billion during the quarter, compared to the consensus estimate of $5.54 billion. WESCO International had a return on equity of 20.90% and a net margin of 3.91%. As a group, equities analysts predict that WESCO International, Inc. will post 16.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on WCC. StockNews.com began coverage on shares of WESCO International in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock. Jefferies Financial Group raised shares of WESCO International from a “hold” rating to a “buy” rating and increased their price target for the stock from $148.00 to $150.00 in a research report on Monday, October 17th.

About WESCO International

(Get Rating)

WESCO International, Inc is a holding company, which engages in the provision of electrical, industrial, communications maintenance, repair and operating, and original equipment manufacturers products. It also offers construction materials, and supply chain management and logistics services. Its product categories include general supplies, wire, cable and conduit, communications and security, electrical distribution and controls, lighting and sustainability, and automation, controls, and motors.

Further Reading

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

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