WESCO International, Inc. (NYSE:WCC) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its stake in WESCO International, Inc. (NYSE:WCCGet Rating) by 5.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 94,173 shares of the technology company’s stock after selling 5,309 shares during the period. California Public Employees Retirement System owned 0.19% of WESCO International worth $10,086,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Assetmark Inc. lifted its stake in WESCO International by 167.2% during the second quarter. Assetmark Inc. now owns 358 shares of the technology company’s stock valued at $38,000 after purchasing an additional 224 shares during the last quarter. Toronto Dominion Bank lifted its stake in WESCO International by 26.2% during the first quarter. Toronto Dominion Bank now owns 1,646 shares of the technology company’s stock valued at $214,000 after purchasing an additional 342 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in WESCO International during the second quarter valued at approximately $206,000. Quent Capital LLC lifted its stake in WESCO International by 79.4% during the first quarter. Quent Capital LLC now owns 2,906 shares of the technology company’s stock valued at $378,000 after purchasing an additional 1,286 shares during the last quarter. Finally, Comerica Bank lifted its stake in WESCO International by 32.3% during the first quarter. Comerica Bank now owns 9,771 shares of the technology company’s stock valued at $1,275,000 after purchasing an additional 2,386 shares during the last quarter. 94.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WCC has been the subject of several recent research reports. StockNews.com initiated coverage on shares of WESCO International in a research note on Wednesday, October 12th. They set a “hold” rating for the company. KeyCorp boosted their price target on shares of WESCO International from $155.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, September 8th. Finally, Jefferies Financial Group upgraded shares of WESCO International from a “hold” rating to a “buy” rating and boosted their price target for the company from $148.00 to $150.00 in a report on Monday, October 17th.

WESCO International Stock Down 1.0 %

WCC stock opened at $125.54 on Tuesday. WESCO International, Inc. has a 52-week low of $99.00 and a 52-week high of $147.05. The company’s 50 day simple moving average is $126.29 and its 200-day simple moving average is $124.51. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.21 and a quick ratio of 1.24. The firm has a market capitalization of $6.38 billion, a P/E ratio of 8.74, a P/E/G ratio of 0.79 and a beta of 2.03.

Insider Activity

In other news, major shareholder Equity Investors Vii L. Green purchased 9,941 shares of the business’s stock in a transaction dated Thursday, September 29th. The shares were acquired at an average price of $114.78 per share, for a total transaction of $1,141,027.98. Following the completion of the acquisition, the insider now directly owns 3,470,265 shares of the company’s stock, valued at $398,317,016.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Equity Investors Vii L. Green acquired 97,157 shares of the company’s stock in a transaction on Tuesday, September 27th. The shares were purchased at an average price of $113.90 per share, for a total transaction of $11,066,182.30. Following the purchase, the insider now owns 3,464,881 shares in the company, valued at $394,649,945.90. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Equity Investors Vii L. Green acquired 9,941 shares of the company’s stock in a transaction on Thursday, September 29th. The stock was bought at an average price of $114.78 per share, for a total transaction of $1,141,027.98. Following the purchase, the insider now owns 3,470,265 shares in the company, valued at approximately $398,317,016.70. The disclosure for this purchase can be found here. 2.60% of the stock is owned by company insiders.

WESCO International Company Profile

(Get Rating)

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).

Further Reading

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

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