Amalgamated Bank Decreases Stock Holdings in WESCO International, Inc. (NYSE:WCC)

Amalgamated Bank lowered its holdings in WESCO International, Inc. (NYSE:WCC) by 22.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,273 shares of the technology company’s stock after selling 6,104 shares during the period. Amalgamated Bank’s holdings in WESCO International were worth $3,573,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. boosted its holdings in shares of WESCO International by 23,727.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company’s stock worth $251,896,000 after buying an additional 1,582,379 shares during the last quarter. Clearbridge Investments LLC purchased a new stake in shares of WESCO International during the 2nd quarter worth approximately $52,782,000. Neo Ivy Capital Management purchased a new position in WESCO International in the second quarter valued at approximately $5,916,000. Russell Investments Group Ltd. grew its holdings in WESCO International by 74.8% during the first quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company’s stock valued at $12,486,000 after purchasing an additional 31,200 shares during the period. Finally, Harbor Capital Advisors Inc. increased its position in WESCO International by 142.8% in the third quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company’s stock worth $5,050,000 after buying an additional 17,682 shares during the last quarter. Institutional investors own 93.76% of the company’s stock.

WESCO International Trading Down 0.9 %

WESCO International stock opened at $205.78 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. WESCO International, Inc. has a fifty-two week low of $132.37 and a fifty-two week high of $213.41. The stock has a market cap of $10.08 billion, a P/E ratio of 16.48, a PEG ratio of 1.74 and a beta of 2.01. The firm’s fifty day moving average price is $171.71 and its 200-day moving average price is $169.12.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the company earned $4.49 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. Equities research analysts forecast that WESCO International, Inc. will post 12.18 earnings per share for the current fiscal year.

WESCO International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.4125 dividend. This represents a $1.65 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International’s payout ratio is 13.21%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WCC shares. Oppenheimer increased their price target on WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Baird R W upgraded shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada boosted their price target on shares of WESCO International from $186.00 to $199.00 and gave the company a “sector perform” rating in a research report on Friday, November 1st. Stephens raised their price objective on shares of WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, KeyCorp boosted their target price on shares of WESCO International from $195.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, WESCO International has a consensus rating of “Buy” and a consensus price target of $208.86.

Insider Activity

In related news, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the transaction, the executive vice president now directly owns 54,621 shares in the company, valued at approximately $10,377,990. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of WESCO International stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the transaction, the director now directly owns 27,004 shares of the company’s stock, valued at approximately $4,632,806.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 54,621 shares of the company’s stock, valued at $10,377,990. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

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).