California Public Employees Retirement System Buys 15,054 Shares of WESCO International, Inc. (NYSE:WCC)
California Public Employees Retirement System raised its stake in shares of WESCO International, Inc. (NYSE:WCC – Get Rating) by 16.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 109,227 shares of the technology company’s stock after purchasing an additional 15,054 shares during the quarter. California Public Employees Retirement System owned 0.22% of WESCO International worth $13,040,000 as of its most recent filing with the SEC.
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Several other institutional investors and hedge funds also recently made changes to their positions in WCC. Eagle Asset Management Inc. bought a new position in shares of WESCO International during the 3rd quarter worth about $17,532,000. Comerica Bank boosted its position in shares of WESCO International by 710.4% during the 2nd quarter. Comerica Bank now owns 79,181 shares of the technology company’s stock valued at $8,692,000 after acquiring an additional 69,410 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of WESCO International by 29.5% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 82,766 shares of the technology company’s stock valued at $8,864,000 after acquiring an additional 18,860 shares in the last quarter. Dupont Capital Management Corp boosted its position in shares of WESCO International by 116.1% during the 3rd quarter. Dupont Capital Management Corp now owns 16,637 shares of the technology company’s stock valued at $1,986,000 after acquiring an additional 8,938 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its position in shares of WESCO International by 55.8% during the 1st quarter. MetLife Investment Management LLC now owns 23,551 shares of the technology company’s stock valued at $3,065,000 after acquiring an additional 8,430 shares in the last quarter. Institutional investors own 94.02% of the company’s stock.
Analyst Ratings Changes
Separately, Robert W. Baird lifted their target price on shares of WESCO International from $161.00 to $170.00 and gave the company a “neutral” rating in a research report on Tuesday, January 24th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.75.
WESCO International Price Performance
Shares of WESCO International stock opened at $165.74 on Wednesday. The firm has a market cap of $8.43 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 0.89 and a beta of 2.01. WESCO International, Inc. has a twelve month low of $99.00 and a twelve month high of $168.71. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.24 and a current ratio of 2.21. The firm’s 50-day simple moving average is $134.65 and its 200-day simple moving average is $131.27.
WESCO International (NYSE:WCC – Get Rating) last released its quarterly earnings results on Tuesday, February 14th. The technology company reported $4.13 EPS for the quarter, beating analysts’ consensus estimates of $3.81 by $0.32. The firm had revenue of $5.60 billion for the quarter, compared to analyst estimates of $5.38 billion. WESCO International had a net margin of 3.91% and a return on equity of 20.90%. The company’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.17 earnings per share. As a group, research analysts expect that WESCO International, Inc. will post 16.11 EPS for the current fiscal year.
WESCO International Company Profile
WESCO International, Inc is a holding company, which engages in the provision of electrical, industrial, communications maintenance, repair and operating, and original equipment manufacturers products. It also offers construction materials, and supply chain management and logistics services. Its product categories include general supplies, wire, cable and conduit, communications and security, electrical distribution and controls, lighting and sustainability, and automation, controls, and motors.
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