Bank of New York Mellon Corp Buys 10,016 Shares of WESCO International, Inc. (NYSE:WCC)

Bank of New York Mellon Corp increased its stake in WESCO International, Inc. (NYSE:WCC) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 403,216 shares of the technology company’s stock after buying an additional 10,016 shares during the quarter. Bank of New York Mellon Corp owned about 0.82% of WESCO International worth $72,966,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Hudson Edge Investment Partners Inc. lifted its position in shares of WESCO International by 17.1% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 4,552 shares of the technology company’s stock worth $824,000 after purchasing an additional 666 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of WESCO International by 167.3% during the fourth quarter. Handelsbanken Fonder AB now owns 192,182 shares of the technology company’s stock worth $34,777,000 after purchasing an additional 120,289 shares during the last quarter. Rhumbline Advisers lifted its position in shares of WESCO International by 1.9% during the fourth quarter. Rhumbline Advisers now owns 120,402 shares of the technology company’s stock worth $21,788,000 after purchasing an additional 2,271 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of WESCO International by 12.0% during the fourth quarter. New York State Teachers Retirement System now owns 24,788 shares of the technology company’s stock worth $4,486,000 after purchasing an additional 2,654 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in WESCO International by 39.9% in the fourth quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock worth $43,000 after acquiring an additional 67 shares during the period. 93.76% of the stock is currently owned by institutional investors.

WESCO International Trading Down 6.0 %

Shares of NYSE:WCC opened at $169.68 on Tuesday. WESCO International, Inc. has a 1 year low of $143.06 and a 1 year high of $216.17. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 1.45 and a beta of 2.01. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27. The business’s 50 day moving average price is $186.03 and its 200-day moving average price is $182.35.

WESCO International (NYSE:WCC) last announced its earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.07). WESCO International had a net margin of 3.29% and a return on equity of 13.63%. On average, equities research analysts forecast that WESCO International, Inc. will post 13.3 earnings per share for the current fiscal year.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.4538 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.82 dividend on an annualized basis and a yield of 1.07%. This is a positive change from WESCO International’s previous quarterly dividend of $0.41. WESCO International’s dividend payout ratio (DPR) is presently 12.62%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on WCC shares. KeyCorp boosted their target price on shares of WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Royal Bank of Canada increased their price target on shares of WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. Jefferies Financial Group increased their price target on shares of WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Stephens increased their price target on shares of WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. Finally, StockNews.com lowered WESCO International from a “buy” rating to a “hold” rating in a research report on Wednesday, February 12th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $218.88.

WESCO International 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).