WESCO International, Inc. (WCC) Position Increased by Frontier Capital Management Co. LLC
Frontier Capital Management Co. LLC raised its position in WESCO International, Inc. (NYSE:WCC) by 2.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 399,583 shares of the technology company’s stock after buying an additional 8,560 shares during the quarter. Frontier Capital Management Co. LLC owned about 0.83% of WESCO International worth $23,276,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Capital Management LLC bought a new stake in shares of WESCO International in the second quarter valued at $202,000. D.A. Davidson & CO. raised 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 valued at $204,000 after buying an additional 866 shares during the period. Trust Co. of Vermont bought a new stake in shares of WESCO International in the second quarter valued at $229,000. Quantbot Technologies LP bought a new stake in shares of WESCO International in the second quarter valued at $238,000. Finally, OppenheimerFunds Inc. raised 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 valued at $348,000 after buying an additional 626 shares during the period. Hedge funds and other institutional investors own 98.33% of the company’s stock.
In other WESCO International news, CFO David S. Schulz bought 4,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.90% of the company’s stock.
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WESCO International, Inc. (NYSE:WCC) opened at $62.95 on Tuesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.49 and a current ratio of 2.39. WESCO International, Inc. has a 52-week low of $48.95 and a 52-week high of $76.15. The company has a market capitalization of $3,005.52, a PE ratio of 16.23, a P/E/G ratio of 1.62 and a beta of 1.95.
WESCO International (NYSE:WCC) last released its earnings results on Thursday, October 26th. The technology company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.09. WESCO International had a net margin of 2.52% and a return on equity of 9.17%. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the prior year, the company posted $1.05 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. equities research analysts predict that WESCO International, Inc. will post 3.87 EPS for the current year.
Several analysts have issued reports on the company. Zacks Investment Research lowered WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Credit Suisse Group set a $70.00 target price on WESCO International and gave the company an “outperform” rating in a research note on Tuesday, October 31st. UBS AG boosted their target price on WESCO International from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Wells Fargo & Company boosted their price objective on WESCO International from $67.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Finally, Wolfe Research lowered WESCO International from an “outperform” rating to a “market perform” rating in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $68.46.
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.
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