Geode Capital Management LLC Acquires 22,080 Shares of WESCO International, Inc. (NYSE:WCC)

Geode Capital Management LLC grew its stake in WESCO International, Inc. (NYSE:WCC) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 762,653 shares of the technology company’s stock after purchasing an additional 22,080 shares during the quarter. Geode Capital Management LLC owned about 1.56% of WESCO International worth $128,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. lifted its stake in WESCO International by 23,727.4% in the second quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock valued at $251,896,000 after buying an additional 1,582,379 shares during the period. Bank of New York Mellon Corp raised its position in shares of WESCO International by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 413,156 shares of the technology company’s stock valued at $65,494,000 after acquiring an additional 8,641 shares during the period. Clearbridge Investments LLC bought a new position in WESCO International during the 2nd quarter worth approximately $52,782,000. Thompson Siegel & Walmsley LLC grew its holdings in WESCO International by 341.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock valued at $43,420,000 after purchasing an additional 199,975 shares during the period. Finally, Farmers & Merchants Investments Inc. increased its stake in WESCO International by 1.5% in the third quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company’s stock valued at $32,753,000 after purchasing an additional 2,923 shares in the last quarter. 93.76% of the stock is currently owned by institutional investors.

WESCO International Trading Down 1.8 %

NYSE WCC opened at $186.11 on Wednesday. WESCO International, Inc. has a 52 week low of $132.37 and a 52 week high of $216.17. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. The stock’s 50 day moving average price is $194.20 and its two-hundred day moving average price is $174.57. The stock has a market capitalization of $9.12 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.55 and a beta of 2.01.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. During the same period last year, the company earned $4.49 earnings per share. The firm’s revenue was down 2.7% compared to the same quarter last year. As a group, analysts anticipate that WESCO International, Inc. will post 12.3 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.4125 per share. The ex-dividend date is Friday, December 13th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.89%. WESCO International’s dividend payout ratio is 13.21%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WCC shares. KeyCorp lifted their price target on shares of WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Baird R W upgraded WESCO International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 16th. Oppenheimer increased their price target on WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Jefferies Financial Group lifted their price objective on WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Stephens increased their target price on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $215.88.

Insider Activity

In other WESCO International news, CFO David S. Schulz sold 14,938 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total value of $3,085,443.90. Following the completion of the transaction, the chief financial officer now directly owns 104,471 shares in the company, valued at $21,578,485.05. This trade represents a 12.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP William Clayton Geary sold 2,829 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $205.73, for a total value of $582,010.17. Following the sale, the executive vice president now owns 35,063 shares in the company, valued at approximately $7,213,510.99. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,586 shares of company stock worth $6,565,762 in the last quarter. Corporate insiders own 3.10% of the company’s stock.

WESCO International 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).