WESCO International, Inc. (NYSE:WCC) Position Boosted by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its stake in WESCO International, Inc. (NYSE:WCC) by 167.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 192,182 shares of the technology company’s stock after purchasing an additional 120,289 shares during the quarter. Handelsbanken Fonder AB’s holdings in WESCO International were worth $34,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in WCC. Thompson Siegel & Walmsley LLC increased its stake in WESCO International by 341.8% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock valued at $43,420,000 after buying an additional 199,975 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of WESCO International by 142.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock valued at $5,050,000 after acquiring an additional 17,682 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of WESCO International by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock valued at $128,143,000 after acquiring an additional 22,080 shares in the last quarter. Burns Matteson Capital Management LLC acquired a new position in shares of WESCO International in the fourth quarter worth $390,000. Finally, EMC Capital Management raised its holdings in shares of WESCO International by 580.8% during the third quarter. EMC Capital Management now owns 16,094 shares of the technology company’s stock worth $2,703,000 after acquiring an additional 13,730 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors and hedge funds.

WESCO International Price Performance

Shares of WESCO International stock opened at $192.64 on Friday. The company has a current ratio of 2.20, a quick ratio of 1.27 and a debt-to-equity ratio of 1.02. The firm has a fifty day simple moving average of $186.59 and a 200-day simple moving average of $180.81. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.50 and a beta of 2.01. WESCO International, Inc. has a 1-year low of $141.02 and a 1-year high of $216.17.

WESCO International (NYSE:WCC) last released its earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. On average, sell-side analysts expect that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $0.4125 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.65 annualized dividend and a yield of 0.86%. WESCO International’s payout ratio is 12.62%.

Analyst Ratings Changes

A number of research analysts have commented on WCC shares. Robert W. Baird boosted their target price on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com cut WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised their price objective on shares of WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Stephens boosted their target price on shares of WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, KeyCorp increased their price target on shares of WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, WESCO International has an average rating of “Moderate Buy” and an average price target of $218.88.

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).