Edgepoint Investment Group Lowers stake in WESCO International (WCC)

WESCO International (WCC) : Edgepoint Investment Group reduced its stake in WESCO International by 1.41% during the most recent quarter end. The investment management company now holds a total of 6,843,948 shares of WESCO International which is valued at $390,515,673 after selling 98,047 shares in WESCO International , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.WESCO International makes up approximately 6.42% of Edgepoint Investment Group’s portfolio.

Other Hedge Funds, Including , Blackrock Institutional Trust Company N.a. reduced its stake in WCC by selling 16,888 shares or 1.58% in the most recent quarter. The Hedge Fund company now holds 1,050,579 shares of WCC which is valued at $59,946,038. WESCO International makes up approx 0.01% of Blackrock Institutional Trust Company N.a.’s portfolio.Systematic Financial Management Lp boosted its stake in WCC in the latest quarter, The investment management firm added 105,876 additional shares and now holds a total of 144,071 shares of WESCO International which is valued at $8,125,604. WESCO International makes up approx 0.11% of Systematic Financial Management Lp’s portfolio.Timber Hill reduced its stake in WCC by selling 9,185 shares or 41.16% in the most recent quarter. The Hedge Fund company now holds 13,133 shares of WCC which is valued at $738,206. WESCO International makes up approx 0.06% of Timber Hill’s portfolio. Cribstone Capital Management added WCC to its portfolio by purchasing 180 company shares during the most recent quarter which is valued at $9,610. WESCO International makes up approx 0.01% of Cribstone Capital Management’s portfolio.

WESCO International closed down -0.07 points or -0.12% at $59.06 with 7,13,840 shares getting traded on Friday. Post opening the session at $58.21, the shares hit an intraday low of $58.05 and an intraday high of $59.33 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, WESCO International reported $1.02 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.97. The company had revenue of $1911.60 million for the quarter, compared to analysts expectations of $1874.11 million. The company’s revenue was down -.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.

Many Wall Street Analysts have commented on WESCO International. WESCO International was Resumed by Credit Suisse to “Outperform” on Jun 17, 2016.

WESCO International Inc. (WESCO International) is a distributor of products and provider of supply chain management and logistics services used in industrial construction utility and commercial institutional and government (CIG) markets. The Company is a provider of electrical industrial and communications maintenance repair and operating (MRO) and original equipment manufacturers (OEM) products construction materials and advanced supply chain management and logistics services. The Company’s 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. It offers a portfolio of value-added 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.

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