Pacer Advisors Inc. Purchases 1,582,379 Shares of WESCO International, Inc. (NYSE:WCC)

Pacer Advisors Inc. grew its holdings in WESCO International, Inc. (NYSE:WCC) by 23,727.4% during the second quarter, Holdings Channel.com reports. The firm owned 1,589,048 shares of the technology company’s stock after acquiring an additional 1,582,379 shares during the quarter. Pacer Advisors Inc.’s holdings in WESCO International were worth $251,896,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Rise Advisors LLC acquired a new stake in WESCO International in the 1st quarter valued at $26,000. Whittier Trust Co. of Nevada Inc. increased its position in shares of WESCO International by 71.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. GAMMA Investing LLC raised its holdings in WESCO International by 65.4% during the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company’s stock worth $40,000 after acquiring an additional 100 shares in the last quarter. Innealta Capital LLC acquired a new position in WESCO International during the second quarter valued at approximately $152,000. Finally, TimesSquare Capital Management LLC bought a new position in WESCO International in the first quarter valued at approximately $463,000. Institutional investors own 93.76% of the company’s stock.

WESCO International Stock Down 2.7 %

Shares of WCC opened at $167.98 on Friday. The firm has a market cap of $8.54 billion, a P/E ratio of 13.98, a price-to-earnings-growth ratio of 1.35 and a beta of 2.03. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.34 and a current ratio of 2.28. WESCO International, Inc. has a 52 week low of $122.30 and a 52 week high of $195.43. The firm’s 50-day simple moving average is $162.31 and its 200 day simple moving average is $165.82.

WESCO International (NYSE:WCC) last posted its earnings results on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing the consensus estimate of $3.48 by ($0.27). The firm had revenue of $5.48 billion during the quarter, compared to analyst estimates of $5.55 billion. WESCO International had a net margin of 3.30% and a return on equity of 14.44%. WESCO International’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.71 EPS. On average, analysts forecast that WESCO International, Inc. will post 12.17 earnings per share for the current year.

WESCO International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.4125 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.98%. WESCO International’s payout ratio is presently 13.74%.

Wall Street Analyst Weigh In

WCC has been the subject of several recent analyst reports. Stephens reissued an “overweight” rating and issued a $190.00 price objective on shares of WESCO International in a report on Monday, August 5th. Royal Bank of Canada cut their price target on shares of WESCO International from $175.00 to $171.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Robert W. Baird lowered their price objective on shares of WESCO International from $195.00 to $172.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. KeyCorp cut their target price on shares of WESCO International from $205.00 to $195.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Baird R W downgraded WESCO International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 29th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, WESCO International currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.71.

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).