Wasatch Advisors Inc. raised its stake in shares of WESCO International, Inc. (NYSE:WCC) by 20.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,490,581 shares of the technology company’s stock after purchasing an additional 420,292 shares during the period. WESCO International accounts for 2.0% of Wasatch Advisors Inc.’s portfolio, making the stock its 9th largest holding. Wasatch Advisors Inc. owned 5.19% of WESCO International worth $142,710,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Janney Capital Management LLC acquired a new stake in shares of WESCO International in the second quarter worth $202,000. D.A. Davidson & CO. grew its stake in shares of WESCO International by 32.0% in the second quarter. D.A. Davidson & CO. now owns 3,572 shares of the technology company’s stock worth $204,000 after acquiring an additional 866 shares during the last quarter. Trust Co. of Vermont acquired a new stake in shares of WESCO International in the second quarter worth $229,000. Quantbot Technologies LP acquired a new stake in shares of WESCO International in the second quarter worth $238,000. Finally, OppenheimerFunds Inc. grew its stake in shares of WESCO International by 14.3% in the first quarter. OppenheimerFunds Inc. now owns 5,009 shares of the technology company’s stock worth $348,000 after acquiring an additional 626 shares during the last quarter. Institutional investors own 98.14% of the company’s stock.

In related news, CFO David S. Schulz bought 4,000 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $51.57 per share, for a total transaction of $206,280.00. Following the transaction, the chief financial officer now owns 9,000 shares in the company, valued at approximately $464,130. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.90% of the company’s stock.

Several brokerages have recently issued reports on WCC. Robert W. Baird restated a “hold” rating and issued a $56.00 price objective on shares of WESCO International in a research note on Wednesday, October 4th. Wells Fargo & Company raised their price objective on shares of WESCO International from $65.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, October 6th. BidaskClub upgraded shares of WESCO International from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. Zacks Investment Research upgraded shares of WESCO International from a “sell” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, July 4th. Finally, Morgan Stanley restated an “overweight” rating and issued a $70.00 price objective (up previously from $68.00) on shares of WESCO International in a research note on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $66.21.

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Shares of WESCO International, Inc. (NYSE:WCC) traded down 0.42% on Friday, reaching $58.85. The company had a trading volume of 238,324 shares. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 27.90 and a beta of 1.80. WESCO International, Inc. has a 52-week low of $48.95 and a 52-week high of $76.15. The company’s 50-day moving average price is $55.11 and its 200-day moving average price is $58.28.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, July 27th. The technology company reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.04. The firm had revenue of $1.91 billion during the quarter, compared to the consensus estimate of $1.91 billion. WESCO International had a return on equity of 9.11% and a net margin of 1.41%. The company’s revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.02 EPS. On average, analysts predict that WESCO International, Inc. will post $3.74 earnings per share for the current year.

WESCO International Company Profile

WESCO International, Inc is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services.

Institutional Ownership by Quarter for WESCO International (NYSE:WCC)

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