J. L. Bainbridge & Co. Inc. Trims Holdings in WESCO International, Inc. (NYSE:WCC)

J. L. Bainbridge & Co. Inc. cut its stake in WESCO International, Inc. (NYSE:WCC - Free Report) by 48.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 81,374 shares of the technology company's stock after selling 76,504 shares during the quarter. WESCO International comprises about 1.4% of J. L. Bainbridge & Co. Inc.'s holdings, making the stock its 22nd largest position. J. L. Bainbridge & Co. Inc. owned 0.17% of WESCO International worth $14,725,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Geode Capital Management LLC grew its position in shares of WESCO International by 3.0% in the third quarter. Geode Capital Management LLC now owns 762,653 shares of the technology company's stock valued at $128,143,000 after purchasing an additional 22,080 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of WESCO International by 2.5% in the fourth quarter. Bank of New York Mellon Corp now owns 403,216 shares of the technology company's stock valued at $72,966,000 after purchasing an additional 10,016 shares in the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in WESCO International by 341.8% during the third quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company's stock valued at $43,420,000 after buying an additional 199,975 shares during the period. Davis Selected Advisers boosted its stake in WESCO International by 0.4% during the fourth quarter. Davis Selected Advisers now owns 256,987 shares of the technology company's stock valued at $46,504,000 after buying an additional 967 shares during the period. Finally, Farmers & Merchants Investments Inc. boosted its stake in WESCO International by 0.4% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 195,731 shares of the technology company's stock valued at $35,419,000 after buying an additional 752 shares during the period. 93.76% of the stock is currently owned by hedge funds and other institutional investors.

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WESCO International Price Performance

WCC stock traded up $4.50 during mid-day trading on Wednesday, hitting $166.05. 753,169 shares of the stock were exchanged, compared to its average volume of 713,888. WESCO International, Inc. has a 12 month low of $143.06 and a 12 month high of $216.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 2.20 and a quick ratio of 1.27. The business has a fifty day moving average price of $182.16 and a 200 day moving average price of $182.44. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 1.45 and a beta of 2.00.

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%. On average, sell-side analysts anticipate that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Friday, March 14th. This is a positive change from WESCO International's previous quarterly dividend of $0.41. WESCO International's payout ratio is 13.85%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on WCC. KeyCorp dropped their price objective on WESCO International from $245.00 to $205.00 and set an "overweight" rating for the company in a research note on Monday. Jefferies Financial Group lifted their price objective on WESCO International from $225.00 to $245.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Royal Bank of Canada lifted their price objective on WESCO International from $212.00 to $213.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 12th. StockNews.com lowered WESCO International from a "buy" rating to a "hold" rating in a research note on Wednesday, February 12th. Finally, Stephens lifted their price target on WESCO International from $205.00 to $215.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, WESCO International currently has a consensus rating of "Moderate Buy" and an average target price of $219.43.

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).