WESCO International, Inc. $WCC Holdings Increased by Davis Selected Advisers

Davis Selected Advisers increased its stake in WESCO International, Inc. (NYSE:WCC) by 12.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 290,746 shares of the technology company’s stock after acquiring an additional 32,243 shares during the period. Davis Selected Advisers’ holdings in WESCO International were worth $53,846,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Whittier Trust Co. lifted its position in WESCO International by 46.8% in the first quarter. Whittier Trust Co. now owns 279 shares of the technology company’s stock worth $43,000 after purchasing an additional 89 shares during the period. First Horizon Advisors Inc. raised its stake in shares of WESCO International by 129.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 232 shares of the technology company’s stock worth $43,000 after buying an additional 131 shares in the last quarter. Parallel Advisors LLC lifted its holdings in shares of WESCO International by 13.4% in the second quarter. Parallel Advisors LLC now owns 507 shares of the technology company’s stock valued at $94,000 after buying an additional 60 shares during the period. Applied Finance Capital Management LLC bought a new position in WESCO International during the second quarter valued at about $227,000. Finally, Burns Matteson Capital Management LLC grew its holdings in WESCO International by 7.1% during the first quarter. Burns Matteson Capital Management LLC now owns 2,307 shares of the technology company’s stock worth $358,000 after acquiring an additional 153 shares during the period. Institutional investors and hedge funds own 93.75% of the company’s stock.

WESCO International Trading Down 3.4%

WESCO International stock opened at $258.00 on Friday. WESCO International, Inc. has a 52 week low of $125.21 and a 52 week high of $268.27. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.19 and a current ratio of 2.09. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of 20.20, a P/E/G ratio of 1.77 and a beta of 1.79. The company has a 50 day moving average price of $225.40 and a 200 day moving average price of $202.54.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, October 30th. The technology company reported $3.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.75 by $0.17. The company had revenue of $6.20 billion for the quarter, compared to the consensus estimate of $5.91 billion. WESCO International had a net margin of 2.98% and a return on equity of 12.96%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.58 EPS. 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 Announces Dividend

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

Insider Buying and Selling

In other WESCO International news, EVP James Cameron sold 10,325 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $226.45, for a total value of $2,338,096.25. Following the completion of the sale, the executive vice president owned 45,706 shares in the company, valued at $10,350,123.70. This represents a 18.43% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Diane Lazzaris sold 7,522 shares of WESCO International stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $256.00, for a total transaction of $1,925,632.00. Following the sale, the executive vice president directly owned 45,401 shares of the company’s stock, valued at $11,622,656. This trade represents a 14.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 142,074 shares of company stock worth $32,430,050 over the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

WCC has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Barclays increased their target price on shares of WESCO International from $258.00 to $274.00 and gave the company an “overweight” rating in a research note on Thursday. Oppenheimer lifted their price target on shares of WESCO International from $225.00 to $255.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Raymond James Financial reiterated a “strong-buy” rating and set a $240.00 price objective (up previously from $230.00) on shares of WESCO International in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. raised their price objective on WESCO International from $225.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $250.67.

About WESCO International

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).