KLP Kapitalforvaltning AS Invests $2.06 Million in WESCO International, Inc. (NYSE:WCC)

KLP Kapitalforvaltning AS bought a new position in shares of WESCO International, Inc. (NYSE:WCC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,386 shares of the technology company’s stock, valued at approximately $2,060,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WCC. Handelsbanken Fonder AB boosted its holdings in shares of WESCO International by 167.3% during the fourth quarter. Handelsbanken Fonder AB now owns 192,182 shares of the technology company’s stock worth $34,777,000 after acquiring an additional 120,289 shares during the period. Geode Capital Management LLC boosted its stake in WESCO International by 3.0% in the 3rd 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 during the period. MassMutual Private Wealth & Trust FSB grew its holdings in WESCO International by 12,056.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 11,670 shares of the technology company’s stock valued at $2,112,000 after buying an additional 11,574 shares in the last quarter. Bank of New York Mellon Corp increased its position in WESCO International by 2.5% during the 4th quarter. Bank of New York Mellon Corp now owns 403,216 shares of the technology company’s stock worth $72,966,000 after buying an additional 10,016 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of WESCO International during the third quarter worth $1,160,000. Institutional investors and hedge funds own 93.76% of the company’s stock.

Analysts Set New Price Targets

WCC has been the topic of several research reports. Royal Bank of Canada upped their price target on shares of 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 cut shares of WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. KeyCorp cut their price target on WESCO International from $245.00 to $205.00 and set an “overweight” rating for the company in a research note on Monday, March 17th. Stephens raised their price objective on WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Finally, Jefferies Financial Group upped their target price on WESCO International from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $219.43.

WESCO International Trading Down 1.3 %

Shares of WCC stock opened at $163.12 on Friday. WESCO International, Inc. has a fifty-two week low of $143.06 and a fifty-two week high of $216.17. The stock’s fifty day moving average price is $179.33 and its two-hundred day moving average price is $182.56. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.27 and a current ratio of 2.20. The company has a market cap of $7.96 billion, a PE ratio of 12.48, a P/E/G ratio of 1.45 and a beta of 2.00.

WESCO International (NYSE:WCC) last released its earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share (EPS) 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%. Equities analysts predict that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.4538 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.82 dividend on an annualized basis and a yield of 1.11%. This is a positive change from WESCO International’s previous quarterly dividend of $0.41. WESCO International’s dividend payout ratio (DPR) is currently 13.85%.

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).