Bessemer Group Inc. Purchases 818 Shares of WESCO International, Inc. $WCC

Bessemer Group Inc. increased its position in WESCO International, Inc. (NYSE:WCC) by 60.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,163 shares of the technology company’s stock after buying an additional 818 shares during the quarter. Bessemer Group Inc.’s holdings in WESCO International were worth $400,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. ARGA Investment Management LP boosted its holdings in shares of WESCO International by 125.5% during the 2nd quarter. ARGA Investment Management LP now owns 25,140 shares of the technology company’s stock valued at $4,656,000 after purchasing an additional 13,989 shares during the last quarter. Foster & Motley Inc. bought a new position in shares of WESCO International during the 2nd quarter valued at about $375,000. Applied Finance Capital Management LLC bought a new position in shares of WESCO International during the 2nd quarter valued at about $227,000. New York State Teachers Retirement System boosted its holdings in shares of WESCO International by 2.1% during the 2nd quarter. New York State Teachers Retirement System now owns 26,295 shares of the technology company’s stock valued at $4,870,000 after purchasing an additional 539 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in shares of WESCO International during the 2nd quarter valued at about $75,136,000. Institutional investors own 93.75% of the company’s stock.

Insider Activity at WESCO International

In related news, EVP Akash Khurana sold 7,000 shares of WESCO International stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $208.12, for a total transaction of $1,456,840.00. Following the transaction, the executive vice president directly owned 34,062 shares of the company’s stock, valued at $7,088,983.44. This trade represents a 17.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP James Cameron sold 10,325 shares of WESCO International stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $226.45, for a total transaction of $2,338,096.25. Following the transaction, the executive vice president directly owned 45,706 shares in the company, valued at approximately $10,350,123.70. The trade was a 18.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 136,131 shares of company stock valued at $30,384,421 over the last quarter. 3.30% of the stock is owned by insiders.

WESCO International Stock Performance

WESCO International stock opened at $259.70 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.09 and a quick ratio of 1.19. WESCO International, Inc. has a 1-year low of $125.21 and a 1-year high of $263.37. The firm has a market capitalization of $12.64 billion, a P/E ratio of 20.34, a price-to-earnings-growth ratio of 1.77 and a beta of 1.79. The company’s 50-day moving average is $218.86 and its 200 day moving average is $196.57.

WESCO International (NYSE:WCC) last issued its earnings results on Thursday, October 30th. The technology company reported $3.92 EPS for the quarter, topping analysts’ consensus estimates of $3.75 by $0.17. The business had revenue of $6.20 billion for the quarter, compared to analyst estimates of $5.91 billion. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company posted $3.58 earnings per share. WESCO International has set its FY 2025 guidance at 13.100-13.600 EPS. Research analysts forecast that WESCO International, Inc. will post 13.3 EPS for the current year.

WESCO International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th were given a dividend of $0.4538 per share. The ex-dividend date of this dividend was Friday, September 12th. This represents a $1.82 dividend on an annualized basis and a dividend yield of 0.7%. WESCO International’s dividend payout ratio (DPR) is 14.20%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Raymond James Financial reissued a “strong-buy” rating and set a $240.00 price objective (up previously from $230.00) on shares of WESCO International in a report on Friday, August 1st. Royal Bank Of Canada increased their price target on shares of WESCO International from $222.00 to $262.00 and gave the company a “sector perform” rating in a report on Friday. Wall Street Zen raised shares of WESCO International from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Oppenheimer increased their price target on shares of WESCO International from $225.00 to $255.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of WESCO International from $225.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 15th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, WESCO International has a consensus rating of “Moderate Buy” and an average target price of $248.89.

WESCO International Profile

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).