New York State Teachers Retirement System Sells 4,120 Shares of WESCO International, Inc. (NYSE:WCC)

New York State Teachers Retirement System lowered its stake in WESCO International, Inc. (NYSE:WCC - Free Report) by 15.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,134 shares of the technology company's stock after selling 4,120 shares during the quarter. New York State Teachers Retirement System's holdings in WESCO International were worth $3,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of WCC. Pacer Advisors Inc. grew its stake in WESCO International by 23,727.4% during the 2nd quarter. Pacer Advisors Inc. now owns 1,589,048 shares of the technology company's stock valued at $251,896,000 after acquiring an additional 1,582,379 shares in the last quarter. Clearbridge Investments LLC purchased a new position in WESCO International during the 2nd quarter valued at about $52,782,000. Neo Ivy Capital Management purchased a new position in WESCO International during the 2nd quarter valued at about $5,916,000. Russell Investments Group Ltd. grew its stake in WESCO International by 74.8% during the 1st quarter. Russell Investments Group Ltd. now owns 72,897 shares of the technology company's stock valued at $12,486,000 after acquiring an additional 31,200 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in WESCO International by 163.5% during the 1st quarter. BNP Paribas Financial Markets now owns 24,236 shares of the technology company's stock valued at $4,151,000 after acquiring an additional 15,037 shares in the last quarter. Hedge funds and other institutional investors own 93.76% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on WCC shares. Loop Capital boosted their price target on WESCO International from $190.00 to $210.00 and gave the company a "buy" rating in a research note on Friday, September 27th. Baird R W upgraded WESCO International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 16th. KeyCorp boosted their price objective on 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 upgraded WESCO International from a "hold" rating to a "buy" rating in a research report on Monday. Finally, Oppenheimer boosted their price objective on WESCO International from $205.00 to $225.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, WESCO International has an average rating of "Buy" and a consensus price target of $208.86.

WESCO International Price Performance

NYSE:WCC traded down $4.69 during trading hours on Thursday, reaching $207.78. The company had a trading volume of 795,383 shares, compared to its average volume of 709,949. The stock has a 50-day moving average of $170.00 and a two-hundred day moving average of $168.43. WESCO International, Inc. has a one year low of $132.37 and a one year high of $213.41. The firm has a market capitalization of $10.21 billion, a PE ratio of 17.02, a PEG ratio of 1.52 and a beta of 2.01. The company has a quick ratio of 1.29, a current ratio of 2.21 and a debt-to-equity ratio of 0.99.

WESCO International (NYSE:WCC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share for the quarter, beating analysts' consensus estimates of $3.22 by $0.36. The firm had revenue of $5.49 billion for the quarter, compared to analysts' expectations 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 was down 2.7% compared to the same quarter last year. During the same period in the prior year, the business posted $4.49 earnings per share. Analysts forecast that WESCO International, Inc. will post 12.18 earnings per share for the current year.

WESCO International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, September 13th. WESCO International's payout ratio is presently 13.21%.

Insider Transactions at WESCO International

In other news, Director Steven A. Raymund sold 5,819 shares of the company's stock in a transaction on 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 owns 27,004 shares of the company's stock, valued at $4,632,806.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other WESCO International news, EVP Nelson John Squires III sold 10,000 shares of the stock in a transaction dated 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 owns 54,621 shares of the company's stock, valued at approximately $10,377,990. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $998,307.64. Following the sale, the director now directly owns 27,004 shares in the company, valued at approximately $4,632,806.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.10% of the company's stock.

WESCO International 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).