Diamond Hill Capital Management Inc. Lowers Stake in WESCO International, Inc. (NYSE:WCC)

Diamond Hill Capital Management Inc. reduced its holdings in shares of WESCO International, Inc. (NYSE:WCC) by 16.5% in the fourth quarter, HoldingsChannel reports. The fund owned 1,069,718 shares of the technology company’s stock after selling 210,823 shares during the period. Diamond Hill Capital Management Inc.’s holdings in WESCO International were worth $193,576,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of WCC. V Square Quantitative Management LLC lifted its position in WESCO International by 39.9% during the 4th quarter. V Square Quantitative Management LLC now owns 235 shares of the technology company’s stock valued at $43,000 after acquiring an additional 67 shares during the period. GAMMA Investing LLC lifted its position in 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. Dorsey & Whitney Trust CO LLC purchased a new position in WESCO International during the 4th quarter valued at about $204,000. Integrated Investment Consultants LLC purchased a new position in WESCO International during the 4th quarter valued at about $278,000. Finally, Burns Matteson Capital Management LLC purchased a new position in WESCO International during the 4th quarter valued at about $390,000. 93.76% of the stock is owned by hedge funds and other institutional investors.

WESCO International Stock Down 3.2 %

WCC opened at $158.46 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 firm has a 50 day moving average price of $183.77 and a 200-day moving average price of $182.38. WESCO International, Inc. has a twelve month low of $143.06 and a twelve month high of $216.17. The stock has a market capitalization of $7.73 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.45 and a beta of 2.00.

WESCO International (NYSE:WCC) last released its quarterly earnings data on Tuesday, February 11th. The technology company reported $3.16 earnings per share for the quarter, missing the consensus estimate of $3.23 by ($0.07). WESCO International had a net margin of 3.29% and a return on equity of 13.63%. Equities research analysts forecast that WESCO International, Inc. will post 13.3 earnings per share for the current 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 1.15%. This is a positive change from WESCO International’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, March 14th. WESCO International’s payout ratio is 13.85%.

Analyst Ratings Changes

Several research analysts have issued reports on WCC shares. Stephens lifted their target price on shares of WESCO International from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, February 18th. KeyCorp lifted their target price on shares of WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Royal Bank of Canada lifted their target price on shares of WESCO International from $212.00 to $213.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 12th. 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 report on Friday, December 6th. Finally, StockNews.com cut shares of WESCO International from a “buy” rating to a “hold” rating in a report on Wednesday, February 12th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.88.

About WESCO International

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).