Lyrical Asset Management LP Lowers Position in WESCO International, Inc. (NYSE:WCC)

Lyrical Asset Management LP cut its position in shares of WESCO International, Inc. (NYSE:WCC) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 700,179 shares of the technology company’s stock after selling 11,075 shares during the quarter. WESCO International comprises 1.9% of Lyrical Asset Management LP’s portfolio, making the stock its 25th biggest position. Lyrical Asset Management LP owned about 1.43% of WESCO International worth $126,704,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB raised its holdings in shares of WESCO International by 167.3% during the 4th quarter. Handelsbanken Fonder AB now owns 192,182 shares of the technology company’s stock valued at $34,777,000 after buying an additional 120,289 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of WESCO International by 62.9% in the fourth quarter. Russell Investments Group Ltd. now owns 215,002 shares of the technology company’s stock worth $38,906,000 after acquiring an additional 83,031 shares in the last quarter. Geode Capital Management LLC boosted its holdings in WESCO International by 3.0% in the third 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 last quarter. MassMutual Private Wealth & Trust FSB grew its stake in WESCO International by 12,056.3% during 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 purchasing an additional 11,574 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in WESCO International during the 4th quarter worth approximately $2,060,000. Hedge funds and other institutional investors own 93.76% of the company’s stock.

WESCO International Price Performance

WCC opened at $135.97 on Friday. 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 company’s 50-day moving average price is $174.02 and its 200 day moving average price is $182.45. WESCO International, Inc. has a fifty-two week low of $129.26 and a fifty-two week high of $216.17. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 10.40, a price-to-earnings-growth ratio of 1.45 and a beta of 1.83.

WESCO International (NYSE:WCC) last announced its quarterly 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%. As a group, sell-side analysts expect that WESCO International, Inc. will post 13.3 earnings per share for the current year.

WESCO International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.4538 dividend. This represents a $1.82 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, March 14th. This is a boost from WESCO International’s previous quarterly dividend of $0.41. WESCO International’s dividend payout ratio (DPR) is 13.85%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Stephens raised their price target on shares of WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 18th. StockNews.com lowered shares of WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. KeyCorp cut their target price on shares of WESCO International from $245.00 to $205.00 and set an “overweight” rating on the stock in a research note on Monday, March 17th. Finally, Royal Bank of Canada lifted their price target on WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 12th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $219.43.

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).