New York State Teachers Retirement System Sells 4,120 Shares of WESCO International, Inc. (NYSE:WCC)

New York State Teachers Retirement System lessened its holdings in shares of WESCO International, Inc. (NYSE:WCC) by 15.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,134 shares of the technology company’s stock after selling 4,120 shares during the quarter. New York State Teachers Retirement System’s holdings in WESCO International were worth $3,718,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Russell Investments Group Ltd. raised its holdings in shares of WESCO International by 74.8% during the 1st quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock valued at $12,486,000 after purchasing an additional 31,200 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in WESCO International by 860.5% during the second quarter. Harbor Capital Advisors Inc. now owns 12,381 shares of the technology company’s stock valued at $1,963,000 after buying an additional 11,092 shares in the last quarter. Redwood Investment Management LLC bought a new position in WESCO International during the first quarter valued at about $639,000. BNP Paribas Financial Markets lifted its position in shares of WESCO International by 163.5% in the first quarter. BNP Paribas Financial Markets now owns 24,236 shares of the technology company’s stock worth $4,151,000 after buying an additional 15,037 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in shares of WESCO International during the 2nd quarter worth about $676,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

WESCO International Stock Performance

NYSE WCC opened at $212.61 on Thursday. The company’s fifty day moving average is $169.02 and its two-hundred day moving average is $168.12. WESCO International, Inc. has a 52-week low of $132.37 and a 52-week high of $213.29. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29. The firm has a market capitalization of $10.45 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.52 and a beta of 2.01.

WESCO International (NYSE:WCC) last released its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period last year, the business earned $4.49 earnings per share. Equities research analysts forecast that WESCO International, Inc. will post 12.18 EPS for the current year.

WESCO International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $0.4125 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.78%. WESCO International’s payout ratio is 13.21%.

Insider Buying and Selling

In other news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total value of $998,307.64. Following the completion of the transaction, the director now owns 27,004 shares in the company, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Nelson John Squires III sold 10,000 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the sale, the executive vice president now owns 54,621 shares of the company’s stock, valued at $10,377,990. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the transaction, the director now owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WCC. Stephens boosted their target price on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com raised shares of WESCO International from a “hold” rating to a “buy” rating in a report on Monday. KeyCorp lifted their target price on shares of WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Loop Capital upped their price target on shares of WESCO International from $190.00 to $210.00 and gave the company a “buy” rating in a report on Friday, September 27th. Finally, Oppenheimer raised their price target on WESCO International from $205.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $208.86.

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).