EMC Capital Management Increases Holdings in WESCO International, Inc. (NYSE:WCC)

EMC Capital Management grew its holdings in WESCO International, Inc. (NYSE:WCC) by 580.8% during the third quarter, HoldingsChannel reports. The fund owned 16,094 shares of the technology company’s stock after purchasing an additional 13,730 shares during the period. WESCO International accounts for about 1.1% of EMC Capital Management’s investment portfolio, making the stock its 21st biggest holding. EMC Capital Management’s holdings in WESCO International were worth $2,703,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Farmers & Merchants Investments Inc. grew its position in shares of WESCO International by 1.5% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company’s stock valued at $32,753,000 after buying an additional 2,923 shares during the last quarter. Highland Capital Management LLC purchased a new position in shares of WESCO International during the third quarter worth about $221,000. Greenleaf Trust increased its position in shares of WESCO International by 4.8% during the third quarter. Greenleaf Trust now owns 2,401 shares of the technology company’s stock worth $403,000 after purchasing an additional 111 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of WESCO International in the 3rd quarter valued at about $28,000. Finally, UMB Bank n.a. boosted its position in shares of WESCO International by 18.3% in the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock valued at $106,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 93.76% of the company’s stock.

Insider Buying and Selling

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the transaction, the director now owns 27,004 shares in the company, valued at $4,632,806.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Steven A. Raymund sold 5,819 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the transaction, the director now directly owns 27,004 shares in the company, valued at $4,632,806.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Nelson John Squires III sold 10,000 shares of the business’s stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the sale, the executive vice president now owns 54,621 shares of the company’s stock, valued at $10,377,990. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on WCC shares. Robert W. Baird increased their price objective on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a report on Friday. Stephens reissued an “overweight” rating and issued a $190.00 target price on shares of WESCO International in a report on Monday, August 5th. Royal Bank of Canada lifted their price target on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research note on Friday. Loop Capital increased their price objective on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Baird R W upgraded shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $206.71.

WESCO International Price Performance

WESCO International stock opened at $188.17 on Friday. The firm’s 50-day moving average is $168.15 and its two-hundred day moving average is $167.47. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.34. The stock has a market capitalization of $9.25 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.59 and a beta of 2.01. WESCO International, Inc. has a 12-month low of $131.38 and a 12-month high of $195.99.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.49 earnings per share. Equities analysts predict that WESCO International, Inc. will post 12.04 earnings per share for the current year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.4125 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.88%. WESCO International’s payout ratio is 13.21%.

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).