Covestor Ltd Has $239,000 Stake in WESCO International, Inc. (NYSE:WCC)

Covestor Ltd cut its stake in shares of WESCO International, Inc. (NYSE:WCC) by 7.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,333 shares of the technology company’s stock after selling 106 shares during the quarter. Covestor Ltd’s holdings in WESCO International were worth $239,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. FDx Advisors Inc. acquired a new stake in shares of WESCO International during the 2nd quarter worth approximately $259,000. New York State Teachers Retirement System bought a new position in shares of WESCO International during the 2nd quarter worth about $2,392,000. Titleist Asset Management LLC acquired a new stake in WESCO International in the first quarter valued at approximately $376,000. Van ECK Associates Corp grew its position in WESCO International by 69.5% in the 2nd quarter. Van ECK Associates Corp now owns 7,224 shares of the technology company’s stock worth $1,294,000 after purchasing an additional 2,963 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of WESCO International by 165.2% during the 2nd quarter. Rhumbline Advisers now owns 134,385 shares of the technology company’s stock worth $24,063,000 after buying an additional 83,703 shares in the last quarter. Institutional investors and hedge funds own 99.15% of the company’s stock.

WESCO International Trading Down 0.8 %

WCC stock traded down $1.21 on Tuesday, reaching $152.09. The company’s stock had a trading volume of 113,064 shares, compared to its average volume of 615,076. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.39 and a current ratio of 2.36. The business has a fifty day simple moving average of $141.36 and a two-hundred day simple moving average of $152.18. The firm has a market cap of $7.77 billion, a PE ratio of 10.23, a PEG ratio of 0.93 and a beta of 2.01. WESCO International, Inc. has a 12-month low of $117.12 and a 12-month high of $185.23.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.99%. WESCO International’s dividend payout ratio (DPR) is 10.01%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WCC shares. Royal Bank of Canada dropped their price target on WESCO International from $214.00 to $189.00 and set an “outperform” rating for the company in a research report on Friday, August 4th. StockNews.com upgraded WESCO International from a “hold” rating to a “buy” rating in a research report on Friday, November 3rd. KeyCorp lowered their price objective on shares of WESCO International from $210.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, August 4th. Oppenheimer lowered their price target on shares of WESCO International from $190.00 to $185.00 and set an “outperform” rating for the company in a research note on Friday, August 4th. Finally, JPMorgan Chase & Co. upgraded shares of WESCO International from a “neutral” rating to an “overweight” rating and set a $180.00 price target for the company in a report on Friday, October 6th. Six investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $189.86.

WESCO International Company Profile

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).