River Road Asset Management LLC Acquires 217,417 Shares of WESCO International, Inc. $WCC

by · The Markets Daily

River Road Asset Management LLC boosted its holdings in WESCO International, Inc. (NYSE:WCC – Free Report) by 56.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 605,918 shares of the technology company’s stock after acquiring an additional 217,417 shares during the period. WESCO International accounts for 1.4% of River Road Asset Management LLC’s holdings, making the stock its 18th biggest position. River Road Asset Management LLC owned about 1.25% of WESCO International worth $112,216,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Davis Selected Advisers increased its holdings in shares of WESCO International by 0.6% in the first quarter. Davis Selected Advisers now owns 258,503 shares of the technology company’s stock valued at $40,146,000 after purchasing an additional 1,516 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of WESCO International during the 1st quarter worth about $1,328,000. Third Avenue Management LLC boosted its holdings in shares of WESCO International by 0.6% during the 1st quarter. Third Avenue Management LLC now owns 14,822 shares of the technology company’s stock worth $2,302,000 after buying an additional 83 shares during the period. Ameriprise Financial Inc. grew its stake in WESCO International by 21.2% in the 1st quarter. Ameriprise Financial Inc. now owns 309,081 shares of the technology company’s stock valued at $48,001,000 after buying an additional 54,046 shares during the last quarter. Finally, Gabelli Funds LLC raised its holdings in WESCO International by 210.0% in the 1st quarter. Gabelli Funds LLC now owns 10,850 shares of the technology company’s stock valued at $1,685,000 after acquiring an additional 7,350 shares during the period. Institutional investors and hedge funds own 93.75% of the company’s stock.

Insiders Place Their Bets

In other WESCO International news, EVP Nelson John Squires III sold 13,780 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $219.59, for a total value of $3,025,950.20. Following the transaction, the executive vice president directly owned 48,625 shares of the company’s stock, valued at approximately $10,677,563.75. The trade was a 22.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Matthew S. Kulasa sold 790 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $253.18, for a total transaction of $200,012.20. Following the sale, the chief accounting officer directly owned 3,320 shares of the company’s stock, valued at approximately $840,557.60. This trade represents a 19.22% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 30,816 shares of company stock valued at $7,411,204. Company insiders own 3.30% of the company’s stock.

WESCO International Stock Up 1.1%

Shares of NYSE WCC opened at $267.41 on Monday. WESCO International, Inc. has a 52-week low of $125.21 and a 52-week high of $268.48. 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 company’s 50 day moving average price is $234.34 and its 200-day moving average price is $210.25. The company has a market capitalization of $13.01 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 1.77 and a beta of 1.79.

WESCO International (NYSE:WCC – Get Free Report) last released 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 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%. WESCO International’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.58 earnings per share. WESCO International has set its FY 2025 guidance at 13.100-13.600 EPS. Equities analysts forecast that WESCO International, Inc. will post 13.3 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WCC. Loop Capital boosted their price objective on WESCO International from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Tuesday, August 5th. Barclays lifted their price target on WESCO International from $258.00 to $274.00 and gave the stock an “overweight” rating in a report on Thursday, November 13th. Wall Street Zen lowered WESCO International from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of WESCO International in a report on Wednesday, October 8th. Finally, Oppenheimer boosted their target price on shares of WESCO International from $225.00 to $255.00 and gave the company an “outperform” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, WESCO International has a consensus rating of “Moderate Buy” and a consensus target price of $255.11.

Get Our Latest Research Report on WCC

About WESCO International

(Free Report)

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).

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