Handelsbanken Fonder AB Sells 37,400 Shares of WESCO International, Inc. (NYSE:WCC)

Handelsbanken Fonder AB trimmed its position in shares of WESCO International, Inc. (NYSE:WCC - Free Report) by 34.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,893 shares of the technology company's stock after selling 37,400 shares during the quarter. Handelsbanken Fonder AB owned 0.15% of WESCO International worth $12,077,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in shares of WESCO International in the 1st quarter worth approximately $26,000. Whittier Trust Co. of Nevada Inc. raised its position in WESCO International by 71.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 166 shares of the technology company's stock worth $26,000 after acquiring an additional 69 shares during the period. GAMMA Investing LLC boosted its stake in WESCO International by 65.4% in the second quarter. GAMMA Investing LLC now owns 253 shares of the technology company's stock valued at $40,000 after acquiring an additional 100 shares during the last quarter. Innealta Capital LLC bought a new position in shares of WESCO International during the 2nd quarter valued at approximately $152,000. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of WESCO International during the 1st quarter worth approximately $463,000. 93.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on WCC shares. Stephens reiterated an "overweight" rating and set a $190.00 price target on shares of WESCO International in a research note on Monday, August 5th. Loop Capital boosted their price objective on WESCO International from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Royal Bank of Canada raised their target price on WESCO International from $171.00 to $187.00 and gave the stock a "sector perform" rating in a research note on Friday, September 27th. Robert W. Baird decreased their price target on WESCO International from $195.00 to $172.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. Finally, StockNews.com lowered shares of WESCO International from a "buy" rating to a "hold" rating in a research report on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, WESCO International currently has an average rating of "Moderate Buy" and a consensus price target of $189.86.

WESCO International Price Performance

Shares of WCC stock traded down $0.82 during trading on Monday, hitting $163.99. The company had a trading volume of 756,909 shares, compared to its average volume of 695,174. The stock's 50-day moving average is $161.32 and its two-hundred day moving average is $166.51. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.38 and a beta of 2.03. The company has a quick ratio of 1.34, a current ratio of 2.28 and a debt-to-equity ratio of 1.07. WESCO International, Inc. has a 52 week low of $122.30 and a 52 week high of $195.43.

WESCO International (NYSE:WCC - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $3.21 EPS for the quarter, missing analysts' consensus estimates of $3.48 by ($0.27). WESCO International had a return on equity of 14.44% and a net margin of 3.30%. The company had revenue of $5.48 billion during the quarter, compared to the consensus estimate of $5.55 billion. During the same period in the previous year, the company earned $3.71 EPS. WESCO International's quarterly revenue was down 4.6% on a year-over-year basis. As a group, analysts predict that WESCO International, Inc. will post 12.14 EPS for the current fiscal year.

WESCO International Announces Dividend

The company 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. This represents a $1.65 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International's dividend payout ratio (DPR) is currently 13.74%.

Insider Transactions at WESCO International

In related news, Director Steven A. Raymund sold 5,819 shares of the firm's stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $171.56, for a total transaction of $998,307.64. Following the transaction, the director now directly owns 27,004 shares of the company's stock, valued at approximately $4,632,806.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.10% of the company's stock.

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).