Corebridge Financial Inc. Sells 2,454 Shares of WESCO International, Inc. (NYSE:WCC)

Corebridge Financial Inc. lowered its holdings in WESCO International, Inc. (NYSE:WCC) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,439 shares of the technology company’s stock after selling 2,454 shares during the period. Corebridge Financial Inc. owned about 0.10% of WESCO International worth $9,127,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC boosted its holdings in shares of WESCO International by 39.9% in the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock worth $43,000 after buying an additional 67 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in WESCO International by 43.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 267 shares of the technology company’s stock valued at $48,000 after acquiring an additional 81 shares during the last quarter. GAMMA Investing LLC grew its position in shares of WESCO International by 25.0% during the 4th quarter. GAMMA Investing LLC now owns 375 shares of the technology company’s stock valued at $68,000 after acquiring an additional 75 shares during the period. Millstone Evans Group LLC bought a new position in shares of WESCO International during the 4th quarter valued at approximately $122,000. Finally, Dorsey & Whitney Trust CO LLC purchased a new stake in shares of WESCO International during the 4th quarter worth approximately $204,000. Institutional investors own 93.76% of the company’s stock.

Wall Street Analysts Forecast Growth

WCC has been the subject of several research reports. Stephens increased their price objective on WESCO International from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. StockNews.com downgraded WESCO International from a “buy” rating to a “hold” rating in a research note on Wednesday, February 12th. KeyCorp lowered their price objective on WESCO International from $245.00 to $205.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Royal Bank of Canada increased their target price on shares of WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 12th. Finally, Jefferies Financial Group lifted their target price on shares of WESCO International from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $219.43.

WESCO International Stock Down 1.3 %

WCC stock opened at $163.12 on Friday. WESCO International, Inc. has a twelve month low of $143.06 and a twelve month high of $216.17. The firm has a market capitalization of $7.96 billion, a PE ratio of 12.48, a PEG ratio of 1.45 and a beta of 2.00. The company has a quick ratio of 1.27, a current ratio of 2.20 and a debt-to-equity ratio of 1.02. The stock has a 50-day simple moving average of $179.33 and a two-hundred day simple moving average of $182.56.

WESCO International (NYSE:WCC) last posted its earnings results on Tuesday, February 11th. The technology company reported $3.16 earnings per share for the quarter, missing analysts’ consensus estimates of $3.23 by ($0.07). WESCO International had a return on equity of 13.63% and a net margin of 3.29%. On average, equities analysts predict that WESCO International, Inc. will post 13.3 EPS for the current fiscal year.

WESCO International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.4538 per share. This represents a $1.82 annualized dividend and a yield of 1.11%. This is a boost from WESCO International’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, March 14th. WESCO International’s payout ratio is presently 13.85%.

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).