WESCO International, Inc. $WCC Holdings Increased by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC grew its stake in WESCO International, Inc. (NYSE:WCC) by 63.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,790 shares of the technology company’s stock after purchasing an additional 2,239 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in WESCO International were worth $1,841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bell Investment Advisors Inc acquired a new stake in shares of WESCO International during the second quarter worth $26,000. Transamerica Financial Advisors LLC bought a new stake in WESCO International in the second quarter valued at about $27,000. Burkett Financial Services LLC acquired a new position in WESCO International in the third quarter valued at about $32,000. Reyes Financial Architecture Inc. acquired a new position in WESCO International in the third quarter valued at about $35,000. Finally, Jones Financial Companies Lllp acquired a new position in WESCO International in the second quarter valued at about $36,000. 93.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WCC. Barclays raised their target price on WESCO International from $390.00 to $437.00 and gave the stock an “overweight” rating in a report on Monday, October 12th. Wall Street Zen raised WESCO International from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Zacks Research downgraded shares of WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Royal Bank Of Canada lifted their price objective on shares of WESCO International from $435.00 to $450.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. Finally, Weiss Ratings lowered shares of WESCO International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $403.86.

Insider Activity

In other news, Director Laura K. Thompson sold 270 shares of the company’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $368.45, for a total transaction of $99,481.50. Following the completion of the transaction, the director directly owned 10,720 shares of the company’s stock, valued at $3,949,784. This represents a 2.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Akash Khurana sold 3,400 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $366.78, for a total value of $1,247,052.00. Following the transaction, the executive vice president owned 27,404 shares of the company’s stock, valued at approximately $10,051,239.12. The trade was a 11.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.60% of the company’s stock.

WESCO International Stock Up 2.1%

Shares of WCC stock opened at $292.62 on Friday. The firm has a fifty day moving average of $347.80 and a 200-day moving average of $327.95. The company has a quick ratio of 1.19, a current ratio of 2.01 and a debt-to-equity ratio of 1.10. WESCO International, Inc. has a 12-month low of $240.55 and a 12-month high of $388.64. The company has a market capitalization of $14.26 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 1.59 and a beta of 1.55.

WESCO International (NYSE:WCC) last posted its quarterly earnings data on Thursday, October 29th. The technology company reported $5.77 EPS for the quarter, beating the consensus estimate of $4.69 by $1.08. The business had revenue of $7.23 billion for the quarter, compared to analysts’ expectations of $6.87 billion. WESCO International had a net margin of 3.04% and a return on equity of 16.27%. The firm’s revenue was up 16.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.92 EPS. As a group, equities research analysts predict that WESCO International, Inc. will post 18.39 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $2.00 annualized dividend and a dividend yield of 0.7%. WESCO International’s dividend payout ratio (DPR) is currently 12.41%.

WESCO International Profile

WESCO International is a business-to-business distributor of electrical, communications, utility and industrial products. Its offerings include wire and cable, lighting, electrical equipment, networking and security systems, and supplies used in maintenance, repair and operations.

The company also provides services such as procurement, inventory management, logistics, project support and supply-chain consulting. Its customers include contractors, manufacturers, utilities, communications providers, government organizations and commercial businesses.

WESCO serves customers in the United States and internationally.