Van ECK Associates Corp Has $3.36 Million Position in WESCO International, Inc. (NYSE:WCC)

Van ECK Associates Corp raised its holdings in WESCO International, Inc. (NYSE:WCC) by 21.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,297 shares of the technology company’s stock after acquiring an additional 3,426 shares during the quarter. Van ECK Associates Corp’s holdings in WESCO International were worth $3,355,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. KB Financial Partners LLC boosted its position in shares of WESCO International by 76.8% in the 3rd quarter. KB Financial Partners LLC now owns 198 shares of the technology company’s stock worth $28,000 after purchasing an additional 86 shares during the last quarter. Anchor Investment Management LLC acquired a new position in shares of WESCO International during the 4th quarter worth about $48,000. GAMMA Investing LLC bought a new stake in shares of WESCO International in the 4th quarter valued at about $56,000. Richelieu Gestion SA acquired a new stake in shares of WESCO International in the 4th quarter valued at approximately $122,000. Finally, iA Global Asset Management Inc. bought a new position in WESCO International during the 3rd quarter worth approximately $164,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

WESCO International Stock Up 3.1 %

Shares of WCC stock opened at $172.92 on Tuesday. The firm’s fifty day moving average price is $161.84 and its two-hundred day moving average price is $160.39. WESCO International, Inc. has a 1 year low of $122.30 and a 1 year high of $195.43. The company has a current ratio of 2.21, a quick ratio of 1.33 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $8.81 billion, a P/E ratio of 14.40, a PEG ratio of 1.19 and a beta of 2.07.

WESCO International (NYSE:WCC) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The company had revenue of $5.35 billion during the quarter, compared to the consensus estimate of $5.30 billion. WESCO International had a net margin of 3.08% and a return on equity of 15.10%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.75 earnings per share. On average, equities analysts predict that WESCO International, Inc. will post 14.12 EPS for the current fiscal year.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a dividend of $0.4125 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from WESCO International’s previous quarterly dividend of $0.38. This represents a $1.65 annualized dividend and a dividend yield of 0.95%. WESCO International’s payout ratio is currently 13.74%.

Analysts Set New Price Targets

Several research firms have weighed in on WCC. Loop Capital increased their target price on shares of WESCO International from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird reduced their target price on WESCO International from $203.00 to $170.00 and set an “outperform” rating on the stock in a report on Wednesday, February 14th. KeyCorp increased their price target on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Friday. StockNews.com raised WESCO International from a “hold” rating to a “buy” rating in a research report on Friday. Finally, JPMorgan Chase & Co. decreased their price objective on WESCO International from $180.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, WESCO International has an average rating of “Moderate Buy” and a consensus price target of $187.00.

Insider Activity

In related news, EVP Nelson John Squires III sold 3,490 shares of WESCO International stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the completion of the transaction, the executive vice president now owns 54,385 shares in the company, valued at $10,333,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP James Cameron sold 5,352 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $156.39, for a total value of $836,999.28. Following the transaction, the executive vice president now directly owns 33,595 shares of the company’s stock, valued at $5,253,922.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Nelson John Squires III sold 3,490 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $190.00, for a total transaction of $663,100.00. Following the sale, the executive vice president now owns 54,385 shares of the company’s stock, valued at approximately $10,333,150. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

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).