California Public Employees Retirement System Buys 840 Shares of WESCO International, Inc. (NYSE:WCC)

California Public Employees Retirement System grew its stake in WESCO International, Inc. (NYSE:WCC – Get Rating) by 0.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,067 shares of the technology company’s stock after acquiring an additional 840 shares during the period. California Public Employees Retirement System owned 0.22% of WESCO International worth $13,780,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Atlas Capital Advisors LLC bought a new position in WESCO International in the 3rd quarter worth about $34,000. RFP Financial Group LLC bought a new position in shares of WESCO International during the fourth quarter valued at approximately $38,000. EverSource Wealth Advisors LLC bought a new position in shares of WESCO International during the third quarter valued at approximately $56,000. Fred Alger Management LLC bought a new position in shares of WESCO International during the third quarter valued at approximately $60,000. Finally, SG Americas Securities LLC bought a new position in shares of WESCO International during the fourth quarter valued at approximately $156,000. 94.02% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Diane Lazzaris sold 10,748 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $161.56, for a total transaction of $1,736,446.88. Following the completion of the transaction, the executive vice president now owns 56,172 shares of the company’s stock, valued at $9,075,148.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Diane Lazzaris sold 10,748 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $161.56, for a total transaction of $1,736,446.88. Following the completion of the transaction, the executive vice president now owns 56,172 shares of the company’s stock, valued at $9,075,148.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Christine Ann Wolf sold 8,000 shares of WESCO International stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $166.24, for a total transaction of $1,329,920.00. Following the completion of the transaction, the executive vice president now directly owns 33,389 shares of the company’s stock, valued at approximately $5,550,587.36. 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 over the last 90 days. Insiders own 2.60% of the company’s stock.

WESCO International Trading Up 0.2 %

NYSE WCC opened at $128.19 on Friday. The company has a fifty day simple moving average of $143.23 and a two-hundred day simple moving average of $139.16. The stock has a market cap of $6.55 billion, a P/E ratio of 8.20, a P/E/G ratio of 0.75 and a beta of 1.95. WESCO International, Inc. has a 12-month low of $99.00 and a 12-month high of $175.00. The company has a current ratio of 2.39, a quick ratio of 1.27 and a debt-to-equity ratio of 1.22.

WESCO International (NYSE:WCC – Get Rating) last posted its quarterly earnings results on Thursday, May 4th. The technology company reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.61 by $0.14. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.45 billion. WESCO International had a net margin of 3.98% and a return on equity of 21.33%. The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $3.63 earnings per share. On average, analysts forecast that WESCO International, Inc. will post 17.4 earnings per share for the current year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, March 14th. This represents a $1.50 annualized dividend and a dividend yield of 1.17%. WESCO International’s dividend payout ratio (DPR) is presently 9.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on WCC shares. Raymond James increased 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. Oppenheimer increased their price objective 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. Robert W. Baird upgraded shares of WESCO International from a “neutral” rating to an “outperform” rating and set a $180.00 price objective on the stock in a research note on Friday, May 5th. KeyCorp raised their target price on shares of WESCO International from $165.00 to $195.00 and gave the company an “overweight” rating in a research note on Wednesday, February 15th. Finally, StockNews.com initiated coverage on shares of WESCO International in a research note on Thursday, March 16th. They issued a “hold” rating for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $190.00.

About WESCO International

(Get Rating)

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.