8,227 Shares in WESCO International, Inc. (WCC) Purchased by Sun Life Financial INC
Sun Life Financial INC purchased a new stake in shares of WESCO International, Inc. (NYSE:WCC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 8,227 shares of the technology company’s stock, valued at approximately $470,000.
Several other hedge funds have also made changes to their positions in the stock. LSV Asset Management grew its stake in shares of WESCO International by 18.8% in the second quarter. LSV Asset Management now owns 90,300 shares of the technology company’s stock worth $5,156,000 after acquiring an additional 14,300 shares during the period. Canada Pension Plan Investment Board grew its position in WESCO International by 8.3% during the second quarter. Canada Pension Plan Investment Board now owns 315,900 shares of the technology company’s stock valued at $18,038,000 after buying an additional 24,300 shares during the period. SG Americas Securities LLC grew its position in WESCO International by 66.4% during the second quarter. SG Americas Securities LLC now owns 4,398 shares of the technology company’s stock valued at $251,000 after buying an additional 1,755 shares during the period. Bowling Portfolio Management LLC bought a new stake in WESCO International during the second quarter valued at approximately $3,111,000. Finally, MUFG Securities EMEA plc bought a new stake in WESCO International during the second quarter valued at approximately $1,085,000. Institutional investors own 92.48% of the company’s stock.
Several brokerages recently issued reports on WCC. Royal Bank of Canada restated a “hold” rating and set a $66.00 target price on shares of WESCO International in a research report on Friday, August 3rd. KeyCorp restated an “equal weight” rating on shares of WESCO International in a research report on Friday, June 29th. ValuEngine upgraded shares of WESCO International from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. Zacks Investment Research lowered shares of WESCO International from a “buy” rating to a “hold” rating in a research report on Friday, May 4th. Finally, Wolfe Research began coverage on shares of WESCO International in a research report on Wednesday, June 27th. They set a “market perform” rating for the company. Seven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. WESCO International presently has an average rating of “Hold” and an average target price of $68.25.
Shares of NYSE WCC opened at $61.45 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.39 and a quick ratio of 1.47. The company has a market cap of $2.91 billion, a P/E ratio of 15.64, a price-to-earnings-growth ratio of 1.29 and a beta of 1.80. WESCO International, Inc. has a 12-month low of $48.95 and a 12-month high of $69.35.
WESCO International (NYSE:WCC) last announced its earnings results on Thursday, August 2nd. The technology company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.01). The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.10 billion. WESCO International had a net margin of 2.21% and a return on equity of 9.62%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.02 earnings per share. equities research analysts anticipate that WESCO International, Inc. will post 4.77 EPS for the current year.
About WESCO International
WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.
Featured Story: Outstanding Shares
Want to see what other hedge funds are holding WCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WESCO International, Inc. (NYSE:WCC).
Receive News & Ratings for WESCO International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WESCO International and related companies with MarketBeat.com's FREE daily email newsletter.