Lyrical Asset Management LP Reduces Stake in WESCO International, Inc. (NYSE:WCC)

Lyrical Asset Management LP decreased its holdings in WESCO International, Inc. (NYSE:WCC - Free Report) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 700,179 shares of the technology company's stock after selling 11,075 shares during the period. WESCO International accounts for about 1.9% of Lyrical Asset Management LP's holdings, making the stock its 25th biggest position. Lyrical Asset Management LP owned 1.43% of WESCO International worth $126,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in WESCO International by 62.9% during the 4th quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company's stock valued at $38,906,000 after acquiring an additional 83,031 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of WESCO International during the 4th quarter valued at $2,060,000. Millstone Evans Group LLC bought a new stake in WESCO International during the fourth quarter valued at $122,000. Whittier Trust Co. of Nevada Inc. grew its position in 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 worth $48,000 after buying an additional 81 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC bought a new position in WESCO International in the 4th quarter worth about $204,000. Institutional investors own 93.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on WCC shares. KeyCorp dropped their price target on WESCO International from $245.00 to $205.00 and set an "overweight" rating for the company in a research report on Monday, March 17th. Royal Bank of Canada boosted their price target on shares of WESCO International from $212.00 to $213.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 12th. StockNews.com cut shares of WESCO International from a "buy" rating to a "hold" rating in a research report on Wednesday, February 12th. Finally, Stephens upped their target price on shares of WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $219.43.

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WESCO International Trading Up 0.3 %

NYSE:WCC traded up $0.41 during trading hours on Friday, reaching $147.25. The company's stock had a trading volume of 357,211 shares, compared to its average volume of 760,765. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of 11.23, a PEG ratio of 1.45 and a beta of 1.83. The firm has a 50-day simple moving average of $169.03 and a 200-day simple moving average of $181.29. WESCO International, Inc. has a 1 year low of $125.21 and a 1 year high of $216.17.

WESCO International (NYSE:WCC - Get Free Report) last released its earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share for the quarter, missing analysts' consensus estimates of $3.23 by ($0.07). WESCO International had a net margin of 3.29% and a return on equity of 13.63%. Research analysts expect that WESCO International, Inc. will post 13.3 EPS for the current fiscal 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 paid a $0.4538 dividend. This represents a $1.82 annualized dividend and a dividend yield of 1.23%. This is an increase 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).