Engineers Gate Manager LP Buys Shares of 24,138 WESCO International, Inc. $WCC

Engineers Gate Manager LP purchased a new position in shares of WESCO International, Inc. (NYSE:WCC) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,138 shares of the technology company’s stock, valued at approximately $8,338,000.

Other hedge funds have also made changes to their positions in the company. Cidel Asset Management Inc. bought a new position in shares of WESCO International in the 2nd quarter valued at approximately $200,000. Integrated Wealth Concepts LLC boosted its position in WESCO International by 16.6% during the second quarter. Integrated Wealth Concepts LLC now owns 1,327 shares of the technology company’s stock worth $458,000 after purchasing an additional 189 shares during the period. Community Bank N.A. grew its holdings in WESCO International by 90.6% during the second quarter. Community Bank N.A. now owns 303 shares of the technology company’s stock valued at $105,000 after purchasing an additional 144 shares during the last quarter. NewEdge Advisors LLC grew its holdings in WESCO International by 14.4% during the second quarter. NewEdge Advisors LLC now owns 10,672 shares of the technology company’s stock valued at $3,686,000 after purchasing an additional 1,342 shares during the last quarter. Finally, Arizona State Retirement System raised its position in shares of WESCO International by 0.5% in the second quarter. Arizona State Retirement System now owns 13,427 shares of the technology company’s stock valued at $4,638,000 after purchasing an additional 65 shares during the period. Institutional investors and hedge funds own 93.75% of the company’s stock.

Insider Transactions at WESCO International

In other news, Director Laura Thompson sold 270 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $368.45, for a total transaction of $99,481.50. Following the completion of the transaction, the director owned 10,720 shares of the company’s stock, valued at approximately $3,949,784. This represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Akash Khurana sold 3,400 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $366.78, for a total transaction of $1,247,052.00. Following the completion of the sale, the executive vice president owned 27,404 shares of the company’s stock, valued at approximately $10,051,239.12. The trade was a 11.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Weiss Ratings downgraded shares of WESCO International from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, September 1st. Stephens upgraded shares of WESCO International from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $350.00 to $400.00 in a report on Tuesday, July 14th. DA Davidson assumed coverage on shares of WESCO International in a research report on Tuesday, June 16th. They set a “buy” rating and a $440.00 target price for the company. Royal Bank Of Canada upped their price target on shares of WESCO International from $421.00 to $430.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Finally, Wall Street Zen downgraded WESCO International from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $394.17.

WESCO International Stock Down 3.2%

WCC opened at $344.13 on Friday. The business has a 50 day moving average of $342.28 and a 200-day moving average of $327.01. The stock has a market capitalization of $16.77 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 2.11 and a beta of 1.53. The company has a current ratio of 2.09, a quick ratio of 1.23 and a debt-to-equity ratio of 1.13. WESCO International, Inc. has a 1-year low of $203.40 and a 1-year high of $385.37.

WESCO International (NYSE:WCC) last announced its earnings results on Thursday, July 30th. The technology company reported $4.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.98 by $0.59. The business had revenue of $6.67 billion for the quarter, compared to analyst estimates of $6.44 billion. WESCO International had a net margin of 2.84% and a return on equity of 14.95%. WESCO International’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.83 earnings per share. WESCO International has set its FY 2026 guidance at 16.000-17.500 EPS. As a group, sell-side analysts anticipate that WESCO International, Inc. will post 16.89 earnings per share for the current 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 payout ratio is presently 13.82%.

WESCO International Company Profile

WESCO International, Inc is a business-to-business distributor and supply chain solutions provider serving the electrical, communications, security, utility and broadband industries. The company supplies products such as electrical and electronic components, wire and cable, lighting, automation equipment, network infrastructure, security systems, safety products and utility equipment.

Through its distribution operations and supply chain services, WESCO helps commercial, industrial, institutional, utility and government customers manage procurement, inventory, logistics and other aspects of their operations.