Corebridge Financial Inc. Sells 2,454 Shares of WESCO International, Inc. (NYSE:WCC)

Corebridge Financial Inc. cut its position in WESCO International, Inc. (NYSE:WCC - Free Report) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,439 shares of the technology company's stock after selling 2,454 shares during the quarter. Corebridge Financial Inc. owned 0.10% of WESCO International worth $9,127,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WCC. V Square Quantitative Management LLC raised its holdings in WESCO International by 39.9% in the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company's stock valued at $43,000 after buying an additional 67 shares during the last quarter. GAMMA Investing LLC increased its position in WESCO International by 25.0% in the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company's stock valued at $68,000 after acquiring an additional 75 shares during the period. Whittier Trust Co. of Nevada Inc. raised its stake in shares of WESCO International by 43.5% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company's stock valued at $48,000 after acquiring an additional 81 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in shares of WESCO International by 0.4% during the third quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company's stock worth $3,881,000 after purchasing an additional 85 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of WESCO International by 1.7% during the fourth quarter. Van ECK Associates Corp now owns 30,178 shares of the technology company's stock worth $5,461,000 after purchasing an additional 512 shares during the period. 93.76% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

WCC has been the subject of several analyst reports. Jefferies Financial Group raised their target price on WESCO International from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Stephens raised their price objective on WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Royal Bank of Canada upped their target price on WESCO International from $212.00 to $213.00 and gave the company a "sector perform" rating in a report on Wednesday, February 12th. KeyCorp lowered their price target on shares of WESCO International from $245.00 to $205.00 and set an "overweight" rating for the company in a report on Monday, March 17th. Finally, StockNews.com downgraded shares of WESCO International from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $219.43.

WESCO International Trading Up 0.7 %

Shares of WCC stock traded up $1.09 during trading hours on Tuesday, hitting $156.39. 598,552 shares of the company were exchanged, compared to its average volume of 739,598. The company has a 50 day simple moving average of $177.05 and a two-hundred day simple moving average of $182.96. The firm has a market cap of $7.63 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.45 and a beta of 2.00. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. WESCO International, Inc. has a fifty-two week low of $143.06 and a fifty-two week high of $216.17.

WESCO International (NYSE:WCC - Get Free Report) last issued its earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. Equities analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 1.16%. This is a positive change from WESCO International's previous quarterly dividend of $0.41. The ex-dividend date was Friday, March 14th. WESCO International's payout ratio is presently 13.85%.

About WESCO International

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).