Amalgamated Bank Reduces Stake in WESCO International, Inc. (NYSE:WCC)

Amalgamated Bank cut its stake in shares of WESCO International, Inc. (NYSE:WCC) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,371 shares of the technology company’s stock after selling 850 shares during the period. Amalgamated Bank owned 0.07% of WESCO International worth $5,803,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. KB Financial Partners LLC raised its holdings in shares of WESCO International by 76.8% in the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock valued at $28,000 after acquiring an additional 86 shares in the last quarter. FDx Advisors Inc. lifted its position in WESCO International by 7.3% during the third quarter. FDx Advisors Inc. now owns 1,555 shares of the technology company’s stock valued at $224,000 after purchasing an additional 106 shares during the last quarter. Anchor Investment Management LLC purchased a new stake in shares of WESCO International during the 4th quarter valued at $48,000. GAMMA Investing LLC bought a new stake in shares of WESCO International during the 4th quarter worth $56,000. Finally, Van Lanschot Kempen Investment Management N.V. grew its position in WESCO International by 6.3% in the third quarter. Van Lanschot Kempen Investment Management N.V. now owns 7,350 shares of the technology company’s stock worth $1,057,000 after acquiring an additional 433 shares in the last quarter. 93.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on WCC. KeyCorp increased their price objective on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Friday. Oppenheimer lifted their price target on shares of WESCO International from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Robert W. Baird cut their price objective on shares of WESCO International from $203.00 to $170.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Royal Bank of Canada decreased their target price on shares of WESCO International from $176.00 to $172.00 and set a “sector perform” rating on the stock in a research report on Friday. Finally, Loop Capital raised their price objective on WESCO International from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $187.00.

Insiders Place Their Bets

In related news, EVP James Cameron sold 5,352 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total transaction of $836,999.28. Following the sale, the executive vice president now owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other WESCO International news, EVP Nelson John Squires III sold 3,490 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $190.00, for a total value of $663,100.00. Following the sale, the executive vice president now directly owns 54,385 shares of the company’s stock, valued at $10,333,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James Cameron sold 5,352 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $156.39, for a total value of $836,999.28. Following the completion of the sale, the executive vice president now directly owns 33,595 shares in the company, valued at $5,253,922.05. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

WESCO International Stock Performance

NYSE:WCC opened at $172.92 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. WESCO International, Inc. has a twelve month low of $122.30 and a twelve month high of $195.43. The stock has a market cap of $8.81 billion, a P/E ratio of 14.40, a price-to-earnings-growth ratio of 1.19 and a beta of 2.07. The firm’s fifty day simple moving average is $161.84 and its 200 day simple moving average is $160.39.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.13). WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter in the prior year, the firm earned $3.75 EPS. WESCO International’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, research analysts predict that WESCO International, Inc. will post 14.12 EPS for the current year.

WESCO International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.4125 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. This represents a $1.65 annualized dividend and a dividend yield of 0.95%. WESCO International’s payout ratio is currently 13.74%.

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).