WESCO International, Inc. (NYSE:WCC) Shares Sold by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. decreased its stake in shares of WESCO International, Inc. (NYSE:WCC) by 7.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,386 shares of the technology company’s stock after selling 271 shares during the quarter. Hudson Edge Investment Partners Inc.’s holdings in WESCO International were worth $537,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BNP Paribas Financial Markets increased its position in shares of WESCO International by 29.3% in the 4th quarter. BNP Paribas Financial Markets now owns 9,199 shares of the technology company’s stock valued at $1,600,000 after acquiring an additional 2,082 shares during the period. ARGA Investment Management LP increased its holdings in shares of WESCO International by 75.8% in the fourth quarter. ARGA Investment Management LP now owns 12,711 shares of the technology company’s stock valued at $2,210,000 after purchasing an additional 5,481 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of WESCO International in the fourth quarter worth about $3,177,000. Lyrical Asset Management LP lifted its holdings in shares of WESCO International by 2,583.9% during the fourth quarter. Lyrical Asset Management LP now owns 765,124 shares of the technology company’s stock worth $133,040,000 after purchasing an additional 736,616 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new stake in WESCO International in the fourth quarter valued at approximately $1,342,000. Hedge funds and other institutional investors own 93.76% of the company’s stock.

WESCO International Price Performance

Shares of WESCO International stock traded down $2.15 during trading hours on Friday, reaching $149.87. The stock had a trading volume of 900,190 shares, compared to its average volume of 687,883. The stock’s 50 day moving average is $161.78 and its 200 day moving average is $165.04. The company has a current ratio of 2.28, a quick ratio of 1.34 and a debt-to-equity ratio of 1.07. WESCO International, Inc. has a twelve month low of $122.30 and a twelve month high of $195.43. The firm has a market capitalization of $7.37 billion, a PE ratio of 12.48, a PEG ratio of 1.26 and a beta of 2.03.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 earnings per share for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.27). The business had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.55 billion. WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.71 EPS. Equities analysts expect that WESCO International, Inc. will post 12.21 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.4125 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 1.10%. WESCO International’s dividend payout ratio is currently 13.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Robert W. Baird reduced their price target on shares of WESCO International from $195.00 to $172.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Stephens reissued an “overweight” rating and set a $190.00 target price on shares of WESCO International in a report on Monday, August 5th. StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a report on Tuesday, July 2nd. Loop Capital reduced their price objective on WESCO International from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Finally, Baird R W cut WESCO International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $184.71.

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).