SG Americas Securities LLC Increases Position in WESCO International, Inc. (WCC)
SG Americas Securities LLC increased its stake in shares of WESCO International, Inc. (NYSE:WCC) by 66.4% during the second quarter, HoldingsChannel.com reports. The fund owned 4,398 shares of the technology company’s stock after acquiring an additional 1,755 shares during the quarter. SG Americas Securities LLC’s holdings in WESCO International were worth $251,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in WCC. Wells Fargo & Company MN increased its position in WESCO International by 4.0% during the first quarter. Wells Fargo & Company MN now owns 274,441 shares of the technology company’s stock worth $17,029,000 after acquiring an additional 10,650 shares during the period. Victory Capital Management Inc. bought a new position in WESCO International during the first quarter worth $304,000. Swiss National Bank increased its position in WESCO International by 2.2% during the first quarter. Swiss National Bank now owns 83,200 shares of the technology company’s stock worth $5,163,000 after acquiring an additional 1,800 shares during the period. Schwab Charles Investment Management Inc. increased its position in WESCO International by 1.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 201,694 shares of the technology company’s stock worth $12,516,000 after acquiring an additional 2,708 shares during the period. Finally, Neuberger Berman Group LLC increased its position in WESCO International by 18.8% during the first quarter. Neuberger Berman Group LLC now owns 7,992 shares of the technology company’s stock worth $496,000 after acquiring an additional 1,262 shares during the period. 98.44% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Christine Ann Wolf bought 1,690 shares of WESCO International stock in a transaction dated Tuesday, August 14th. The shares were bought at an average price of $59.20 per share, for a total transaction of $100,048.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.40% of the company’s stock.
WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, August 2nd. The technology company reported $1.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.23 by ($0.01). The business had revenue of $2.10 billion during 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 company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm earned $1.02 EPS. analysts expect that WESCO International, Inc. will post 4.77 EPS for the current fiscal year.
WCC has been the topic of a number of research reports. ValuEngine raised shares of WESCO International from a “sell” rating to a “hold” rating in a research report on Thursday, June 7th. Wolfe Research initiated coverage on shares of WESCO International in a report on Wednesday, June 27th. They issued a “market perform” rating on the stock. KeyCorp reissued an “equal weight” rating on shares of WESCO International in a report on Friday, June 29th. Zacks Investment Research raised shares of WESCO International from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Saturday, June 30th. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $66.00 price target on shares of WESCO International in a report on Friday, August 3rd. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $68.25.
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.
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