Geode Capital Management LLC Has $128.14 Million Holdings in WESCO International, Inc. (NYSE:WCC)

Geode Capital Management LLC grew its position in WESCO International, Inc. (NYSE:WCC) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 762,653 shares of the technology company’s stock after purchasing an additional 22,080 shares during the quarter. Geode Capital Management LLC’s holdings in WESCO International were worth $128,143,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in WCC. MetLife Investment Management LLC boosted 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 valued at $3,881,000 after purchasing an additional 85 shares during the period. BNP Paribas Financial Markets raised 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 buying an additional 5,363 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of WESCO International in the third quarter valued at approximately $1,160,000. Thompson Siegel & Walmsley LLC grew its position 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 worth $43,420,000 after buying an additional 199,975 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC increased its stake in WESCO International by 1.7% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,335 shares of the technology company’s stock worth $728,000 after acquiring an additional 71 shares during the period. Institutional investors own 93.76% of the company’s stock.

Analyst Upgrades and Downgrades

WCC has been the topic of several analyst reports. Stephens increased their target price on WESCO International from $190.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. KeyCorp raised their target price on shares of WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Baird R W upgraded shares of WESCO International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 16th. Royal Bank of Canada increased their price target on shares of WESCO International from $186.00 to $199.00 and gave the stock a “sector perform” rating in a research report on Friday, November 1st. Finally, Robert W. Baird boosted their price objective 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 investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $215.88.

Insider Activity

In other news, CFO David S. Schulz sold 14,938 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $206.55, for a total value of $3,085,443.90. Following the completion of the sale, the chief financial officer now owns 104,471 shares of the company’s stock, valued at approximately $21,578,485.05. This represents a 12.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Nelson John Squires III sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $190.00, for a total value of $1,900,000.00. Following the completion of the sale, the executive vice president now owns 54,621 shares in the company, valued at $10,377,990. The trade was a 15.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,586 shares of company stock valued at $6,565,762 over the last quarter. 3.10% of the stock is owned by company insiders.

WESCO International Price Performance

WCC stock opened at $186.11 on Wednesday. WESCO International, Inc. has a 1 year low of $132.37 and a 1 year high of $216.17. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.21 and a quick ratio of 1.29. The stock has a market cap of $9.12 billion, a price-to-earnings ratio of 14.90, a P/E/G ratio of 1.55 and a beta of 2.01. The company has a 50 day simple moving average of $194.20 and a 200 day simple moving average of $174.57.

WESCO International (NYSE:WCC) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $3.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.36. WESCO International had a net margin of 3.19% and a return on equity of 13.19%. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the prior year, the business earned $4.49 earnings per share. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. Research analysts anticipate that WESCO International, Inc. will post 12.3 EPS for the current fiscal year.

WESCO International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $0.4125 per share. This represents a $1.65 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Friday, December 13th. WESCO International’s dividend payout ratio (DPR) is currently 13.21%.

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).