Bank of New York Mellon Corp lifted its position in WESCO International (NYSE:WCC) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 429,157 shares of the technology company’s stock after purchasing an additional 8,906 shares during the quarter. Bank of New York Mellon Corp owned 0.91% of WESCO International worth $29,248,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. New York State Common Retirement Fund lifted its stake in shares of WESCO International by 1.2% in the 3rd quarter. New York State Common Retirement Fund now owns 211,054 shares of the technology company’s stock valued at $12,294,000 after acquiring an additional 2,600 shares during the last quarter. James Investment Research Inc. lifted its stake in shares of WESCO International by 217.4% in the 4th quarter. James Investment Research Inc. now owns 39,800 shares of the technology company’s stock valued at $2,712,000 after acquiring an additional 27,260 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of WESCO International in the 4th quarter valued at about $218,000. California Public Employees Retirement System lifted its stake in shares of WESCO International by 8.8% in the 3rd quarter. California Public Employees Retirement System now owns 125,363 shares of the technology company’s stock valued at $7,302,000 after acquiring an additional 10,163 shares during the last quarter. Finally, Polaris Capital Management LLC lifted its stake in shares of WESCO International by 169.8% in the 4th quarter. Polaris Capital Management LLC now owns 1,793,516 shares of the technology company’s stock valued at $34,095,000 after acquiring an additional 1,128,805 shares during the last quarter.
In other news, Director Lynn M. Utter sold 737 shares of the stock in a transaction that occurred on Wednesday, March 14th. The stock was sold at an average price of $63.57, for a total value of $46,851.09. Following the completion of the transaction, the director now owns 11,116 shares of the company’s stock, valued at approximately $706,644.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lynn M. Utter sold 768 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $65.56, for a total value of $50,350.08. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by corporate insiders.
WCC stock opened at $60.35 on Friday. The company has a market capitalization of $2,945.71, a P/E ratio of 15.93, a price-to-earnings-growth ratio of 1.34 and a beta of 1.86. The company has a current ratio of 2.31, a quick ratio of 1.40 and a debt-to-equity ratio of 0.62. WESCO International has a 52-week low of $48.95 and a 52-week high of $70.95.
WESCO International (NYSE:WCC) last released its quarterly earnings results on Thursday, February 1st. The technology company reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.05. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $1.93 billion. WESCO International had a return on equity of 9.06% and a net margin of 2.13%. WESCO International’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 EPS. equities research analysts forecast that WESCO International will post 4.67 earnings per share for the current fiscal year.
WESCO International declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 13th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the technology company to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.
About WESCO International
WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.
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