Bank of New York Mellon Corp Decreases Stock Holdings in WESCO International, Inc. (NYSE:WCC)

Bank of New York Mellon Corp lowered its holdings in WESCO International, Inc. (NYSE:WCC – Get Rating) by 29.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 306,861 shares of the technology company’s stock after selling 131,058 shares during the period. Bank of New York Mellon Corp owned about 0.60% of WESCO International worth $36,633,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Captrust Financial Advisors boosted its holdings in shares of WESCO International by 5.1% in the 2nd quarter. Captrust Financial Advisors now owns 2,497 shares of the technology company’s stock worth $267,000 after buying an additional 122 shares during the last quarter. First Hawaiian Bank boosted its stake in WESCO International by 3.5% in the third quarter. First Hawaiian Bank now owns 7,435 shares of the technology company’s stock valued at $888,000 after acquiring an additional 253 shares during the last quarter. Atlas Capital Advisors LLC purchased a new position in WESCO International in the third quarter valued at about $34,000. Colony Group LLC increased its stake in shares of WESCO International by 1.2% during the 2nd quarter. Colony Group LLC now owns 27,017 shares of the technology company’s stock worth $2,894,000 after purchasing an additional 331 shares during the last quarter. Finally, Greenleaf Trust raised its holdings in shares of WESCO International by 9.1% in the 2nd quarter. Greenleaf Trust now owns 4,289 shares of the technology company’s stock worth $459,000 after purchasing an additional 356 shares during the period. Institutional investors own 94.02% of the company’s stock.

WESCO International Stock Down 4.1 %

Shares of NYSE:WCC opened at $152.09 on Tuesday. The firm has a fifty day moving average price of $150.61 and a two-hundred day moving average price of $135.33. The company has a market cap of $7.77 billion, a price-to-earnings ratio of 9.91, a PEG ratio of 0.90 and a beta of 1.97. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.18 and a quick ratio of 1.27. WESCO International, Inc. has a one year low of $99.00 and a one year high of $175.00.

WESCO International (NYSE:WCC – Get Rating) last posted its quarterly earnings data on Tuesday, February 14th. The technology company reported $4.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.81 by $0.32. WESCO International had a return on equity of 21.61% and a net margin of 4.02%. The company had revenue of $5.60 billion during the quarter, compared to analyst estimates of $5.38 billion. During the same quarter last year, the company earned $3.17 earnings per share. The firm’s quarterly revenue was up 15.4% on a year-over-year basis. Analysts anticipate that WESCO International, Inc. will post 17.53 EPS for the current fiscal year.

WESCO International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 15th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, March 14th.

Insiders Place Their Bets

In other news, EVP Nelson John Squires III sold 4,665 shares of WESCO International stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $170.25, for a total transaction of $794,216.25. Following the completion of the sale, the executive vice president now directly owns 73,198 shares of the company’s stock, valued at approximately $12,461,959.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other WESCO International news, EVP Nelson John Squires III sold 4,665 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $170.25, for a total value of $794,216.25. Following the completion of the sale, the executive vice president now owns 73,198 shares of the company’s stock, valued at $12,461,959.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Louis Singleton sold 3,000 shares of WESCO International stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $167.56, for a total transaction of $502,680.00. Following the transaction, the director now directly owns 37,719 shares in the company, valued at $6,320,195.64. The disclosure for this sale can be found here. Insiders sold a total of 105,532 shares of company stock valued at $17,217,762 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WCC. KeyCorp raised their target price on WESCO International from $165.00 to $195.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 15th. Royal Bank of Canada upped their price objective on shares of WESCO International from $163.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, February 15th. StockNews.com downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Thursday, February 23rd. Oppenheimer upped their price target on shares of WESCO International from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Wednesday, February 15th. Finally, Raymond James lifted their price objective on shares of WESCO International from $190.00 to $200.00 and gave the company a “strong-buy” rating in a research note on Wednesday, February 15th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $189.00.

WESCO International Company Profile

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WESCO International, Inc is a holding company, which engages in the provision of electrical, industrial, communications maintenance, repair and operating, and original equipment manufacturer products. It also offers construction materials, and supply chain management and logistics services. Its product categories include general supplies, wire, cable and conduit, communications and security, electrical distribution and controls, lighting and sustainability, and automation, controls, and motors.