Putnam Investments LLC Sells 2,119 Shares of WESCO International, Inc. (NYSE:WCC)

Putnam Investments LLC lowered its position in WESCO International, Inc. (NYSE:WCC) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 138,798 shares of the technology company’s stock after selling 2,119 shares during the period. Putnam Investments LLC owned 0.33% of WESCO International worth $7,030,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in WCC. Carroll Financial Associates Inc. raised its position in shares of WESCO International by 317.4% in the 2nd quarter. Carroll Financial Associates Inc. now owns 697 shares of the technology company’s stock worth $35,000 after acquiring an additional 530 shares in the last quarter. Machina Capital S.A.S. increased its position in WESCO International by 283.4% during the 2nd quarter. Machina Capital S.A.S. now owns 1,986 shares of the technology company’s stock valued at $101,000 after buying an additional 1,468 shares in the last quarter. SG Americas Securities LLC bought a new position in WESCO International during the 1st quarter valued at approximately $273,000. HGK Asset Management Inc. increased its position in WESCO International by 19.3% during the 2nd quarter. HGK Asset Management Inc. now owns 7,179 shares of the technology company’s stock valued at $364,000 after buying an additional 1,160 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its position in WESCO International by 3.0% during the 2nd quarter. Wedge Capital Management L L P NC now owns 14,851 shares of the technology company’s stock valued at $752,000 after buying an additional 435 shares in the last quarter.

WCC traded down $0.33 during trading on Friday, hitting $46.50. 411,408 shares of the company’s stock traded hands, compared to its average volume of 350,514. The company’s 50 day simple moving average is $45.30 and its two-hundred day simple moving average is $50.21. The company has a current ratio of 2.30, a quick ratio of 1.41 and a debt-to-equity ratio of 0.74. WESCO International, Inc. has a 12-month low of $42.03 and a 12-month high of $63.20. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.91 and a beta of 1.74.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, August 1st. The technology company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.44 by $0.01. WESCO International had a return on equity of 10.63% and a net margin of 2.82%. The business had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the business posted $1.22 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts expect that WESCO International, Inc. will post 5.18 EPS for the current year.

A number of research analysts recently weighed in on the company. TheStreet lowered WESCO International from a “b-” rating to a “c+” rating in a research report on Friday, May 24th. Royal Bank of Canada reduced their price objective on WESCO International to $54.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Oppenheimer reaffirmed a “hold” rating on shares of WESCO International in a research report on Friday, September 6th. ValuEngine lowered WESCO International from a “sell” rating to a “strong sell” rating in a research report on Friday, July 12th. Finally, Buckingham Research lowered WESCO International from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. WESCO International presently has a consensus rating of “Hold” and a consensus target price of $58.33.

About WESCO International

WESCO International, Inc distributes electrical, industrial, and communications maintenance, repair and operating (MRO) and original equipment manufacturers products and construction materials in North America and internationally. The company sells general supplies, such as wiring devices, fuses, terminals, connectors, boxes, enclosures, fittings, lugs, terminations, wraps, splicing and marking equipment, tools and testers, safety, personal protection, sealants, cutting tools, adhesives, consumables, fasteners, janitorial, and other MRO supplies.

See Also: Hedge Funds – Risk or Reward?

Institutional Ownership by Quarter for WESCO International (NYSE:WCC)

Receive News & Ratings for WESCO International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WESCO International and related companies with MarketBeat.com's FREE daily email newsletter.