GAMMA Investing LLC recently made headlines in the investment world as it sold 171 shares of WESCO International, Inc. (NYSE:WCC), marking a significant 52.8% reduction in its position during the 1st quarter. This move was disclosed in the company’s latest filing with the Securities & Exchange Commission. At the end of the quarter, GAMMA Investing LLC held 153 shares of the technology company, valued at $26,000.
Notably, other institutional investors have also been active in adjusting their positions in WESCO International. KB Financial Partners LLC, for instance, increased its holdings by 76.8% in the 3rd quarter, now owning 198 shares valued at $28,000. Anchor Investment Management LLC entered the scene in the 4th quarter by acquiring a new position worth approximately $48,000. Richelieu Gestion SA and iA Global Asset Management Inc. also made new investments in the company during the same period, with positions valued at $122,000 and $164,000, respectively. Lazard Asset Management LLC saw a 51.8% rise in its stake during the third quarter, now owning 2,500 shares valued at $359,000.
On the market front, WESCO International’s stock experienced a slight decline of 1.7%, with shares on the NYSE opening at $157.61 on Thursday. The company currently boasts a market capitalization of $8.01 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.14, and a beta of 2.06. Its 50-day moving average price stands at $171.84, while the 200-day moving average price is $168.60. The company’s financial health is reflected in its debt-to-equity ratio of 1.04, quick ratio of 1.33, and current ratio of 2.21. WESCO International has seen a trading range between $122.30 and $195.43 over the past 52 weeks.
Regarding its recent financial performance, WESCO International reported its quarterly earnings data on Thursday, May 2nd. The company posted earnings per share (EPS) of $2.30 for the quarter, falling short of analysts’ consensus estimates by $0.13. Despite this, the firm generated revenue of $5.35 billion, slightly surpassing analyst projections of $5.30 billion. WESCO International reported a net margin of 3.08% and a return on equity of 15.10%. The company’s revenue for the quarter saw a 3.1% decrease compared to the same period last year.
