Harbor Capital Advisors Inc. Grows Holdings in WESCO International, Inc. (NYSE:WCC)

Harbor Capital Advisors Inc. raised its position in WESCO International, Inc. (NYSE:WCC) by 142.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,063 shares of the technology company’s stock after purchasing an additional 17,682 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in WESCO International were worth $5,050,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WCC. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of WESCO International by 71.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after purchasing an additional 69 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of WESCO International in the third quarter valued at $28,000. GAMMA Investing LLC boosted its holdings in WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock valued at $40,000 after purchasing an additional 100 shares during the period. UMB Bank n.a. grew its stake in WESCO International by 18.3% during the 3rd quarter. UMB Bank n.a. now owns 633 shares of the technology company’s stock worth $106,000 after purchasing an additional 98 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in WESCO International during the 2nd quarter worth about $152,000. 93.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the sale, the director now owns 27,004 shares in the company, valued at $4,632,806.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Nelson John Squires III sold 10,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the sale, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Robert W. Baird lifted their price objective on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday. Loop Capital boosted their price target on shares of WESCO International from $190.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 27th. Oppenheimer raised their price objective on shares of WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a report on Friday. KeyCorp boosted their target price on shares of WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Stephens restated an “overweight” rating and issued a $190.00 price target on shares of WESCO International in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $206.71.

WESCO International Price Performance

Shares of NYSE:WCC opened at $188.17 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.34. WESCO International, Inc. has a 12 month low of $131.38 and a 12 month high of $195.99. The firm 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. The company’s fifty day moving average price is $168.15 and its 200 day moving average price is $167.56.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.36. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $4.49 EPS. As a group, sell-side analysts predict that WESCO International, Inc. will post 12.04 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.4125 per share. The ex-dividend date was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.88%. WESCO International’s dividend payout ratio (DPR) is presently 13.21%.

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).