UBS Asset Management Americas Inc. increased its stake in shares of Wesco International Inc. (NYSE:WCC) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,051 shares of the company’s stock after buying an additional 446 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.10% of Wesco International worth $2,423,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Wesco International during the second quarter valued at $17,595,000. Oregon Public Employees Retirement Fund raised its stake in Wesco International by 8.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 6,414 shares of the company’s stock valued at $330,000 after buying an additional 500 shares during the last quarter. Selway Asset Management raised its stake in Wesco International by 0.8% in the second quarter. Selway Asset Management now owns 24,600 shares of the company’s stock valued at $1,267,000 after buying an additional 200 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Wesco International during the second quarter valued at $581,000. Finally, Bank of New York Mellon Corp raised its stake in Wesco International by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 350,536 shares of the company’s stock valued at $18,049,000 after buying an additional 3,536 shares during the last quarter.
Wesco International Inc. (NYSE:WCC) traded down 1.95% during mid-day trading on Friday, reaching $61.74. The company had a trading volume of 479,855 shares. Wesco International Inc. has a one year low of $34.00 and a one year high of $63.90. The firm has a market capitalization of $2.61 billion, a P/E ratio of 15.10 and a beta of 2.05. The firm’s 50-day moving average is $60.28 and its 200-day moving average is $56.86.
Wesco International (NYSE:WCC) last released its earnings results on Thursday, July 28th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.05. Wesco International had a return on equity of 10.73% and a net margin of 2.65%. The firm had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business posted $1.00 earnings per share. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities research analysts anticipate that Wesco International Inc. will post $3.96 earnings per share for the current fiscal year.
Several research analysts recently issued reports on the stock. Wells Fargo & Co. reiterated a “buy” rating on shares of Wesco International in a research report on Sunday, September 4th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of Wesco International in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Citigroup Inc. downgraded shares of Wesco International to a “market perform” rating and set a $65.00 target price on the stock. in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Macquarie assumed coverage on shares of Wesco International in a research report on Thursday, August 25th. They set a “neutral” rating and a $64.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Wesco International from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday, October 3rd. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Wesco International has a consensus rating of “Hold” and an average target price of $59.71.
In other news, Director James Louis Singleton sold 2,638 shares of the business’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $63.29, for a total transaction of $166,959.02. Following the sale, the director now directly owns 12,305 shares in the company, valued at $778,783.45. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.00% of the stock is owned by company insiders.
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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