ARGA Investment Management LP Lowers Stock Holdings in WESCO International, Inc. (NYSE:WCC)

ARGA Investment Management LP cut its holdings in WESCO International, Inc. (NYSE:WCC) by 12.3% in the third quarter, Holdings Channel reports. The institutional investor owned 11,151 shares of the technology company’s stock after selling 1,560 shares during the quarter. ARGA Investment Management LP’s holdings in WESCO International were worth $1,873,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. MetLife Investment Management LLC increased its holdings in WESCO International by 0.4% in the 3rd quarter. MetLife Investment Management LLC now owns 23,102 shares of the technology company’s stock worth $3,881,000 after acquiring an additional 85 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of WESCO International by 80.4% in the third quarter. BNP Paribas Financial Markets now owns 12,034 shares of the technology company’s stock valued at $2,021,000 after purchasing an additional 5,363 shares during the period. Quantbot Technologies LP purchased a new stake in shares of WESCO International during the third quarter worth about $1,160,000. Thompson Siegel & Walmsley LLC raised its position in shares of WESCO International by 341.8% during the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 258,486 shares of the technology company’s stock worth $43,420,000 after purchasing an additional 199,975 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its stake in WESCO International by 1.7% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,335 shares of the technology company’s stock valued at $728,000 after buying an additional 71 shares in the last quarter. 93.76% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other WESCO International news, Director Steven A. Raymund sold 5,819 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $171.56, for a total transaction of $998,307.64. Following the completion of the transaction, the director now owns 27,004 shares of the company’s stock, valued at $4,632,806.24. This trade represents a 17.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO David S. Schulz sold 14,938 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $206.55, for a total transaction of $3,085,443.90. Following the completion of the sale, the chief financial officer now directly owns 104,471 shares in the company, valued at $21,578,485.05. This trade represents a 12.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 33,586 shares of company stock worth $6,565,762. Company insiders own 3.10% of the company’s stock.

WESCO International Stock Up 1.6 %

Shares of WCC opened at $211.57 on Friday. WESCO International, Inc. has a 52-week low of $132.37 and a 52-week high of $216.17. The company has a market capitalization of $10.37 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.73 and a beta of 2.01. The stock has a fifty day simple moving average of $186.13 and a two-hundred day simple moving average of $173.40. 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) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the prior year, the firm posted $4.49 earnings per share. WESCO International’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, equities analysts forecast that WESCO International, Inc. will post 12.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. KeyCorp boosted their price objective on WESCO International from $195.00 to $225.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Royal Bank of Canada boosted their price target on WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Stephens raised their price objective on WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Oppenheimer upped their target price on shares of WESCO International from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Robert W. Baird increased their target price on shares of WESCO International from $215.00 to $223.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $208.86.

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).