Amalgamated Bank Cuts Stock Position in WESCO International, Inc. (NYSE:WCC)

Amalgamated Bank reduced its stake in WESCO International, Inc. (NYSE:WCC - Free Report) by 22.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,273 shares of the technology company's stock after selling 6,104 shares during the period. Amalgamated Bank's holdings in WESCO International were worth $3,573,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Innealta Capital LLC increased its holdings in shares of WESCO International by 68.0% in the third quarter. Innealta Capital LLC now owns 1,606 shares of the technology company's stock worth $270,000 after purchasing an additional 650 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of WESCO International by 128.3% during the 3rd quarter. Van ECK Associates Corp now owns 29,666 shares of the technology company's stock worth $5,182,000 after acquiring an additional 16,673 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of WESCO International by 142.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 30,063 shares of the technology company's stock valued at $5,050,000 after acquiring an additional 17,682 shares during the last quarter. EMC Capital Management grew its holdings in shares of WESCO International by 580.8% in the third quarter. EMC Capital Management now owns 16,094 shares of the technology company's stock valued at $2,703,000 after purchasing an additional 13,730 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its position in WESCO International by 1.5% during the third quarter. Farmers & Merchants Investments Inc. now owns 194,979 shares of the technology company's stock valued at $32,753,000 after purchasing an additional 2,923 shares during the last quarter. Hedge funds and other institutional investors own 93.76% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WCC. KeyCorp upped their target price on shares of WESCO International from $195.00 to $225.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. StockNews.com raised shares of WESCO International from a "hold" rating to a "buy" rating in a research report on Monday, November 4th. Loop Capital upped their price objective on WESCO International from $190.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, September 27th. Robert W. Baird lifted their price target on shares of WESCO International from $215.00 to $223.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Stephens upped their target price on WESCO International from $190.00 to $205.00 and gave the stock an "overweight" rating in a report on Tuesday, November 5th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $208.86.

WESCO International Stock Down 0.9 %

WCC traded down $1.97 on Friday, hitting $205.78. The company had a trading volume of 741,698 shares, compared to its average volume of 861,448. WESCO International, Inc. has a 12-month low of $132.37 and a 12-month high of $213.41. The stock has a market capitalization of $10.08 billion, a price-to-earnings ratio of 16.48, a P/E/G ratio of 1.69 and a beta of 2.01. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.29 and a current ratio of 2.21. The stock has a fifty day moving average price of $171.71 and a 200-day moving average price of $169.19.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 EPS for the quarter, beating the consensus estimate of $3.22 by $0.36. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. WESCO International had a return on equity of 13.19% and a net margin of 3.19%. The business's revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.49 EPS. Analysts predict that WESCO International, Inc. will post 12.22 EPS for the current fiscal year.

WESCO International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.4125 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.65 dividend on an annualized basis and a yield of 0.80%. WESCO International's payout ratio is 13.21%.

Insiders Place Their Bets

In related news, EVP Nelson John Squires III sold 10,000 shares of the company's stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $190.00, for a total value of $1,900,000.00. Following the transaction, the executive vice president now directly owns 54,621 shares of the company's stock, valued at $10,377,990. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the company's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $171.56, for a total value of $998,307.64. Following the sale, the director now owns 27,004 shares in the company, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Nelson John Squires III sold 10,000 shares of the firm's stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total transaction of $1,900,000.00. Following the sale, the executive vice president now owns 54,621 shares in the company, valued at approximately $10,377,990. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company's stock.

WESCO International Company 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).