Harbor Capital Advisors Inc. Lowers Position in WESCO International, Inc. (NYSE:WCC)

Harbor Capital Advisors Inc. reduced its position in shares of WESCO International, Inc. (NYSE:WCC) by 63.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,908 shares of the technology company’s stock after selling 19,155 shares during the period. Harbor Capital Advisors Inc.’s holdings in WESCO International were worth $1,974,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in WESCO International by 23,727.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after purchasing an additional 1,582,379 shares during the period. Geode Capital Management LLC grew its holdings in WESCO International by 3.0% during the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company’s stock worth $128,143,000 after acquiring an additional 22,080 shares during the period. Clearbridge Investments LLC purchased a new position in WESCO International in the second quarter worth $52,782,000. Thompson Siegel & Walmsley LLC lifted its holdings in WESCO International by 341.8% in the third quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock valued at $43,420,000 after acquiring an additional 199,975 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its position in shares of WESCO International by 1.5% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company’s stock worth $32,753,000 after purchasing an additional 2,923 shares in the last quarter. Institutional investors and hedge funds own 93.76% of the company’s stock.

WESCO International Stock Down 2.7 %

WCC opened at $178.44 on Friday. The firm has a market cap of $8.74 billion, a P/E ratio of 14.29, a PEG ratio of 1.55 and a beta of 2.02. The business’s fifty day simple moving average is $195.14 and its 200 day simple moving average is $175.74. WESCO International, Inc. has a 52 week low of $132.37 and a 52 week high of $216.17. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99.

WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. 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 company earned $4.49 EPS. As a group, equities research analysts anticipate that WESCO International, Inc. will post 12.3 EPS for the current fiscal year.

WESCO International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $0.4125 per share. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Friday, December 13th. WESCO International’s dividend payout ratio is presently 13.21%.

Wall Street Analyst Weigh In

Several analysts recently commented on WCC shares. StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Thursday. Baird R W raised WESCO International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 16th. Robert W. Baird raised their price objective on WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their target price on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, Stephens raised their price target on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, WESCO International presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.88.

Insider Activity at WESCO International

In related news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the completion of the transaction, the executive vice president now owns 54,621 shares of the company’s stock, valued at approximately $10,377,990. This represents a 15.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David S. Schulz sold 14,938 shares of WESCO International stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the completion of the transaction, the chief financial officer now owns 104,471 shares in the company, valued at approximately $21,578,485.05. This trade represents a 12.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,767 shares of company stock worth $5,567,454. 3.10% of the stock is currently owned by insiders.

WESCO International Company Profile

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).