Ownership Action To Observe: Wesco Distribution Inc (NYSE:WCC) Institutional Investors Sentiment Index Flat in 2016 Q2

December 1, 2016 - By Peter Erickson   ·   0 Comments

Ownership Action To Observe: Wesco Distribution Inc (NYSE:WCC) Institutional Investors Sentiment Index Flat in  2016 Q2

Sentiment for Wesco Distribution Inc (NYSE:WCC)

Wesco Distribution Inc (NYSE:WCC) institutional sentiment decreased to 1 in 2016 Q2. Its down -0.36, from 1.36 in 2016Q1. The ratio fall, as 113 hedge funds increased and started new equity positions, while 83 reduced and sold holdings in Wesco Distribution Inc. The hedge funds in our partner’s database reported: 51.25 million shares, down from 52.33 million shares in 2016Q1. Also, the number of hedge funds holding Wesco Distribution Inc in their top 10 equity positions decreased from 5 to 4 for a decrease of 1. Sold All: 19 Reduced: 64 Increased: 73 New Position: 40.

WESCO International, Inc. is a distributor of products and well-known provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government markets. The company has a market cap of $3.56 billion. The Firm is a well-known provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services. It has a 34.23 P/E ratio. The Company’s primary product categories include general electrical and industrial supplies, wire, cable and conduit, data and broadband communications, power distribution equipment, lighting and lighting control systems, control and automation, motors, and safety.

About 157,434 shares traded hands. WESCO International, Inc. (NYSE:WCC) has risen 19.73% since April 28, 2016 and is uptrending. It has outperformed by 13.81% the S&P500.

Analysts await WESCO International, Inc. (NYSE:WCC) to report earnings on January, 26. They expect $0.94 earnings per share, down 8.74% or $0.09 from last year’s $1.03 per share. WCC’s profit will be $46.97 million for 18.95 P/E if the $0.94 EPS becomes a reality. After $1.05 actual earnings per share reported by WESCO International, Inc. for the previous quarter, Wall Street now forecasts -10.48% negative EPS growth.

According to Zacks Investment Research, “Wesco International, Inc. is a leading provider of electrical products and other industrial MRO supplies and services in North America. The company is also a provider of Integrated Supply services. Their Integrated Supply solutions and outsourcing services fulfill all of a customer’s industrial MRO procurement needs through a highly automated, proprietary electronic procurement and inventory replenishment system.”

Edgepoint Investment Group Inc. holds 6.16% of its portfolio in WESCO International, Inc. for 6.84 million shares. Peconic Partners Llc owns 423,363 shares or 2.71% of their US portfolio. Moreover, Polaris Capital Management Llc has 2.13% invested in the company for 476,600 shares. The Hong Kong-based Parametrica Management Ltd has invested 1.56% in the stock. Olstein Capital Management L.P., a New York-based fund reported 216,290 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 2 insider sales for $492,017 net activity.

WESCO International, Inc. (NYSE:WCC) Ratings Coverage

Ratings analysis reveals 31% of Wesco International Inc.’s analysts are positive. Out of 13 Wall Street analysts rating Wesco International Inc., 4 give it “Buy”, 0 “Sell” rating, while 9 recommend “Hold”. The lowest target is $4 while the high is $76. The stock’s average target of $56.42 is -20.81% below today’s ($71.25) share price. WCC was included in 34 notes of analysts from July 24, 2015. The company was downgraded on Saturday, August 8 by TheStreet. The rating was initiated by Sterne Agee CRT on Tuesday, March 22 with “Neutral”. The firm has “Equal-Weight” rating given on Monday, October 5 by Barclays Capital. The rating was maintained by RBC Capital Markets on Wednesday, December 16 with “Outperform”. Oppenheimer maintained it with “Outperform” rating and $49 target price in Friday, January 29 report. The stock has “Outperform” rating given by Credit Suisse on Friday, June 17. UBS maintained WESCO International, Inc. (NYSE:WCC) on Thursday, May 12 with “Neutral” rating. RBC Capital Markets maintained WESCO International, Inc. (NYSE:WCC) rating on Friday, January 29. RBC Capital Markets has “Sector Perform” rating and $47 price target. The stock of WESCO International, Inc. (NYSE:WCC) has “Equal Weight” rating given on Friday, July 24 by Stephens. The company was upgraded on Monday, August 24 by Standpoint Research.

WCC Company Profile

WESCO International, Inc., incorporated on September 17, 1993, is a distributor of products and well-known provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Firm is a well-known provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services. The Company’s primary product categories include general electrical and industrial supplies, wire, cable and conduit, data and broadband communications, power distribution equipment, lighting and lighting control systems, control and automation, motors, and safety. The Firm serves over 80,000 clients across the globe through approximately 500 service branches located in North America, with activities in over 10 additional countries and approximately nine distribution centers located in the United States and Canada. It distributes over 1,000,000 products, grouped into six categories, from approximately 25,000 suppliers utilizing an automated, electronic procurement and inventory replenishment system. In addition, it offers a portfolio of capabilities, which includes supply chain management, logistics and transportation, procurement, warehousing and inventory management, as well as kitting, limited assembly of products and system installation.

More notable recent WESCO International, Inc. (NYSE:WCC) news were published by: Prnewswire.com which released: “WESCO International, Inc. Names New Chief Financial Officer” on October 17, 2016, also Prnewswire.com with their article: “WESCO International, Inc. Announces Its Fourth Quarter 2016 Investor …” published on November 02, 2016, Fool.com published: “How WESCO International Surprised the Stock Market” on October 28, 2016. More interesting news about WESCO International, Inc. (NYSE:WCC) were released by: Prnewswire.com and their article: “WESCO International, Inc. Announces Redemption of 6.0% Convertible Senior …” published on August 11, 2016 as well as Prnewswire.com‘s news article titled: “WESCO International, Inc. Announces Hibbard Retirement” with publication date: October 21, 2016.

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By Peter Erickson


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