American International Group Inc. Has $9.96 Million Stake in WESCO International, Inc. (NYSE:WCC)

American International Group Inc. trimmed its holdings in shares of WESCO International, Inc. (NYSE:WCC) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,146 shares of the technology company’s stock after selling 1,189 shares during the quarter. American International Group Inc. owned about 0.11% of WESCO International worth $9,959,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Rise Advisors LLC acquired a new position in WESCO International during the first quarter worth $26,000. GAMMA Investing LLC acquired a new position in WESCO International during the fourth quarter worth $56,000. Quent Capital LLC increased its position in WESCO International by 9.9% during the first quarter. Quent Capital LLC now owns 3,703 shares of the technology company’s stock worth $634,000 after buying an additional 333 shares during the last quarter. Hudson Edge Investment Partners Inc. increased its position in WESCO International by 16.3% during the fourth quarter. Hudson Edge Investment Partners Inc. now owns 2,733 shares of the technology company’s stock worth $475,000 after buying an additional 384 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its holdings in WESCO International by 0.4% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 190,759 shares of the technology company’s stock valued at $33,169,000 after acquiring an additional 790 shares during the period. 93.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WCC. Loop Capital upped their price target on shares of WESCO International from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, May 6th. Robert W. Baird reiterated a “neutral” rating and issued a $195.00 target price (down previously from $200.00) on shares of WESCO International in a research note on Wednesday, May 29th. KeyCorp increased their target price on shares of WESCO International from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $172.00 target price on shares of WESCO International in a research note on Thursday, June 20th. Finally, StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Tuesday, July 2nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, WESCO International currently has an average rating of “Moderate Buy” and a consensus price target of $191.17.

Insider Transactions at WESCO International

In other news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total transaction of $302,785,000.00. Following the completion of the sale, the insider now owns 2,134,683 shares of the company’s stock, valued at $369,342,852.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other WESCO International news, major shareholder Equity Investors Vii L. Green sold 1,750,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $173.02, for a total value of $302,785,000.00. Following the transaction, the insider now directly owns 2,134,683 shares of the company’s stock, valued at $369,342,852.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Matthew S. Kulasa sold 474 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $191.69, for a total transaction of $90,861.06. Following the completion of the transaction, the chief accounting officer now directly owns 3,555 shares in the company, valued at $681,457.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,754,960 shares of company stock valued at $303,728,784. Corporate insiders own 3.10% of the company’s stock.

WESCO International Price Performance

WCC traded up $4.80 during midday trading on Thursday, reaching $169.41. 240,265 shares of the company’s stock were exchanged, compared to its average volume of 688,850. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.22 and a beta of 2.06. The company has a quick ratio of 1.33, a current ratio of 2.21 and a debt-to-equity ratio of 1.04. WESCO International, Inc. has a one year low of $122.30 and a one year high of $195.43. The business has a 50-day simple moving average of $171.34 and a two-hundred day simple moving average of $167.40.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $2.30 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.13). The business had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.30 billion. WESCO International had a return on equity of 15.10% and a net margin of 3.08%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.75 EPS. As a group, research analysts predict that WESCO International, Inc. will post 14.07 EPS for the current year.

WESCO International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, June 14th. WESCO International’s payout ratio is 13.74%.

WESCO International Company 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).