BNP Paribas Financial Markets Lowers Holdings in WESCO International, Inc. (NYSE:WCC)

BNP Paribas Financial Markets lessened its stake in WESCO International, Inc. (NYSE:WCC) by 32.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,106 shares of the technology company’s stock after selling 3,928 shares during the quarter. BNP Paribas Financial Markets’ holdings in WESCO International were worth $1,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. Covestor Ltd raised its position in shares of WESCO International by 5.5% in the 4th quarter. Covestor Ltd now owns 1,198 shares of the technology company’s stock worth $216,000 after purchasing an additional 62 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in WESCO International by 39.9% in the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock worth $43,000 after buying an additional 67 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in WESCO International by 43.5% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock worth $48,000 after buying an additional 81 shares in the last quarter. Van ECK Associates Corp increased its holdings in WESCO International by 1.7% in the 4th quarter. Van ECK Associates Corp now owns 30,178 shares of the technology company’s stock worth $5,461,000 after buying an additional 512 shares in the last quarter. Finally, Hudson Edge Investment Partners Inc. increased its holdings in WESCO International by 17.1% in the 4th quarter. Hudson Edge Investment Partners Inc. now owns 4,552 shares of the technology company’s stock worth $824,000 after buying an additional 666 shares in the last quarter. Hedge funds and other institutional investors own 93.76% of the company’s stock.

WESCO International Trading Up 1.2%

WESCO International stock opened at $173.31 on Monday. The business has a 50-day simple moving average of $157.58 and a two-hundred day simple moving average of $178.86. The company has a market cap of $8.46 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.45 and a beta of 1.92. WESCO International, Inc. has a 52-week low of $125.21 and a 52-week high of $216.17. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02.

WESCO International (NYSE:WCC) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $2.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.23 by ($0.02). The company had revenue of $5.34 billion for the quarter, compared to the consensus estimate of $5.27 billion. WESCO International had a net margin of 3.29% and a return on equity of 13.63%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.30 earnings per share. Analysts predict that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.4538 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from WESCO International’s previous quarterly dividend of $0.41. This represents a $1.82 dividend on an annualized basis and a yield of 1.05%. WESCO International’s payout ratio is currently 13.69%.

Analyst Upgrades and Downgrades

Several research firms recently commented on WCC. StockNews.com downgraded WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Royal Bank of Canada lifted their price objective on WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Oppenheimer reduced their price objective on WESCO International from $225.00 to $195.00 and set an “outperform” rating for the company in a report on Monday, May 5th. Loop Capital reduced their price objective on WESCO International from $250.00 to $220.00 and set a “buy” rating for the company in a report on Monday, May 12th. Finally, KeyCorp reduced their price objective on WESCO International from $245.00 to $205.00 and set an “overweight” rating for the company in a report on Monday, March 17th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $216.57.

About WESCO International

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).