Hudson Edge Investment Partners Inc. Decreases Position in WESCO International, Inc. (NYSE:WCC)

Hudson Edge Investment Partners Inc. reduced its position in shares of WESCO International, Inc. (NYSE:WCC) by 7.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,386 shares of the technology company’s stock after selling 271 shares during the period. 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 have also made changes to their positions in WCC. Farmers & Merchants Investments Inc. increased its position in shares of WESCO International by 1.0% during the second quarter. Farmers & Merchants Investments Inc. now owns 192,056 shares of the technology company’s stock worth $30,445,000 after purchasing an additional 1,857 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of WESCO International by 11.9% during the second quarter. Van ECK Associates Corp now owns 12,993 shares of the technology company’s stock worth $2,060,000 after buying an additional 1,378 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of WESCO International during the second quarter worth $152,000. Whittier Trust Co. of Nevada Inc. raised its position 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 buying an additional 69 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of WESCO International by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 413,156 shares of the technology company’s stock worth $65,494,000 after buying an additional 8,641 shares in the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

WESCO International Trading Down 1.4 %

NYSE:WCC traded down $2.15 on Friday, reaching $149.87. The company’s stock had a trading volume of 900,190 shares, compared to its average volume of 687,883. WESCO International, Inc. has a 12-month low of $122.30 and a 12-month high of $195.43. The stock has a 50 day moving average price of $161.78 and a 200 day moving average price of $165.04. The firm has a market cap of $7.37 billion, a price-to-earnings ratio of 12.48, a price-to-earnings-growth ratio of 1.26 and a beta of 2.03. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07.

WESCO International (NYSE:WCC) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $3.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.48 by ($0.27). The company had revenue of $5.48 billion during the quarter, compared to analysts’ expectations of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. The firm’s quarterly revenue was down 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $3.71 earnings per share. On average, equities analysts anticipate that WESCO International, Inc. will post 12.21 EPS for the current fiscal year.

WESCO International Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have commented on WCC shares. Baird R W downgraded shares of WESCO International from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 29th. Robert W. Baird cut their price target on WESCO International from $195.00 to $172.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. StockNews.com downgraded WESCO International from a “buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. KeyCorp dropped their target price on WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Loop Capital reduced their price target on WESCO International from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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).