Frontier Capital Management Co. LLC lifted its position in WESCO International, Inc. (NYSE:WCC) by 1.8% in the 1st quarter, HoldingsChannel reports. The fund owned 555,285 shares of the technology company’s stock after buying an additional 9,678 shares during the period. Frontier Capital Management Co. LLC’s holdings in WESCO International were worth $29,436,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC grew its stake in WESCO International by 425.0% in the first quarter. Quadrant Capital Group LLC now owns 1,323 shares of the technology company’s stock valued at $68,000 after purchasing an additional 1,071 shares during the last quarter. Meeder Asset Management Inc. grew its stake in WESCO International by 42.0% in the fourth quarter. Meeder Asset Management Inc. now owns 2,385 shares of the technology company’s stock valued at $114,000 after purchasing an additional 706 shares during the last quarter. Greenleaf Trust purchased a new position in WESCO International in the fourth quarter valued at about $208,000. SG Americas Securities LLC purchased a new position in WESCO International in the first quarter valued at about $273,000. Finally, Sun Life Financial INC grew its stake in WESCO International by 6.6% in the fourth quarter. Sun Life Financial INC now owns 8,827 shares of the technology company’s stock valued at $424,000 after purchasing an additional 548 shares during the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.
Several equities analysts have issued reports on the company. William Blair lowered WESCO International from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 7th. Northcoast Research restated a “buy” rating on shares of WESCO International in a research note on Friday, May 3rd. Wells Fargo & Co boosted their price target on WESCO International from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, March 18th. Buckingham Research set a $60.00 price target on WESCO International and gave the stock a “buy” rating in a research note on Saturday, February 2nd. Finally, Zacks Investment Research upgraded WESCO International from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $63.00.
Shares of WCC stock opened at $51.53 on Friday. WESCO International, Inc. has a fifty-two week low of $43.94 and a fifty-two week high of $63.20. The stock has a market cap of $2.33 billion, a PE ratio of 10.69, a price-to-earnings-growth ratio of 0.96 and a beta of 1.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.31 and a current ratio of 2.18.
WESCO International (NYSE:WCC) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.02). WESCO International had a return on equity of 10.34% and a net margin of 2.77%. The business had revenue of $1.96 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the previous year, the firm posted $0.93 EPS. WESCO International’s revenue was down 1.6% on a year-over-year basis. Sell-side analysts predict that WESCO International, Inc. will post 5.39 EPS for the current year.
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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