Formula Growth Ltd. acquired a new position in WESCO International, Inc. (NYSE:WCC – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 2,300 shares of the technology company’s stock, valued at approximately $794,000.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in WESCO International during the 2nd quarter valued at $3,094,634,000. Bank of New York Mellon Corp increased its stake in shares of WESCO International by 10.3% during the first quarter. Bank of New York Mellon Corp now owns 907,473 shares of the technology company’s stock valued at $248,303,000 after buying an additional 84,905 shares during the period. Geode Capital Management LLC raised its holdings in shares of WESCO International by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 864,237 shares of the technology company’s stock valued at $211,473,000 after acquiring an additional 14,739 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of WESCO International in the second quarter valued at about $296,304,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in WESCO International in the second quarter worth about $175,189,000. 93.75% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on WCC. Zacks Research upgraded shares of WESCO International from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. DA Davidson initiated coverage on shares of WESCO International in a research report on Tuesday, June 16th. They issued a “buy” rating and a $440.00 price target for the company. Weiss Ratings upgraded shares of WESCO International from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, August 17th. Stephens raised shares of WESCO International from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $350.00 to $400.00 in a report on Tuesday, July 14th. Finally, Wall Street Zen downgraded shares of WESCO International from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat.com, WESCO International presently has a consensus rating of “Buy” and an average price target of $374.29.
WESCO International Price Performance
Shares of WCC opened at $351.00 on Friday. The company has a 50 day moving average of $342.60 and a two-hundred day moving average of $323.90. The company has a quick ratio of 1.23, a current ratio of 2.09 and a debt-to-equity ratio of 1.13. WESCO International, Inc. has a twelve month low of $203.40 and a twelve month high of $385.37. The company has a market cap of $17.10 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 2.07 and a beta of 1.54.
WESCO International (NYSE:WCC – Get Free Report) last announced its earnings results on Thursday, July 30th. The technology company reported $4.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.98 by $0.59. WESCO International had a return on equity of 14.95% and a net margin of 2.84%.The company had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period in the prior year, the company posted $3.83 EPS. The firm’s quarterly revenue was up 13.0% compared to the same quarter last year. WESCO International has set its FY 2026 guidance at 16.000-17.500 EPS. As a group, analysts predict that WESCO International, Inc. will post 16.77 earnings per share for the current fiscal year.
WESCO International Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, September 11th. This represents a $2.00 annualized dividend and a dividend yield of 0.6%. WESCO International’s dividend payout ratio is 13.82%.
Insider Activity at WESCO International
In other WESCO International news, Director Laura K. Thompson sold 270 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $368.45, for a total transaction of $99,481.50. Following the sale, the director owned 10,720 shares of the company’s stock, valued at approximately $3,949,784. The trade was a 2.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Daniel J. Castillo purchased 960 shares of the business’s stock in a transaction on Tuesday, August 4th. The shares were bought at an average price of $365.89 per share, for a total transaction of $351,254.40. Following the purchase, the executive vice president directly owned 16,305 shares in the company, valued at $5,965,836.45. This represents a 6.26% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.60% of the stock is currently owned by insiders.
WESCO International Profile
WESCO International, Inc is a leading global distributor of electrical, industrial, communications and utility products, serving a diverse customer base across maintenance, repair and operations (MRO), original equipment manufacturing (OEM) and construction markets. The company offers a comprehensive portfolio of products ranging from power distribution and automation solutions to data communications, security systems and lighting controls. Through an extensive branch network, WESCO provides critical components and value‐added services that help organizations streamline operations and improve reliability in their facilities and infrastructure.
In addition to its broad product offering, WESCO delivers advanced supply chain management and logistics solutions designed to optimize inventory levels, reduce downtime and lower overall procurement costs.
Featured Articles
- Five stocks we like better than WESCO International
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Want to see what other hedge funds are holding WCC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for WESCO International, Inc. (NYSE:WCC – Free Report).
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.
